Newark, NJ asked in Contracts and Business Law for New Jersey

Q: 53 FT Dry Van Trailer Leasing Company Threatning Me

I have 53 ft semi dry van trailer i already paid more than $42k including down payment on this trailer because of business down fall i can't keep up with payments any more because of too high payment which is $1650 per month as per signed lease now leasing company is sending me threatning text messages saying i'll have to face consequences didn't specify what kind or type of consequences i try to negotiate with leasing company to lower my trailer payment due to business down fall but they've refused and keep calling me every single day and threatning me so my question is what are my options do i go with bankruptcy or any other better option any help on this matter is greatly appreciated

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1 Lawyer Answer
Leonard R. Boyer
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  • Clifton, NJ
  • Licensed in New Jersey

A: Clearly, this leasing company is in violation of the Federal Fair Debt Collection Practices Act and is engaging in harassment tactics. Personally, I would file a lawsuit against them and seek damages plus attempt to get a restraining order against them. Then I would have the leverage to negotiate a much more reasonable resolution of this matter. Do not file for bankruptcy! Remember a cheap attorney is rarely ever good and a good attorney is worth whatever they charge you. A very good attorney is also fair and reasonable. There are also other ways to make money with your truck.

Good luck.

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