I can no longer make my auto loan payments, can the finance company garnashis my wages?

Not without taking you to court and getting a judgment first.

At that point they can garnish wages (if your State allows it), attach bank accounts and file liens on any other property you may own like cars, boats, land and homes.

All of this activity will show on your credit for the next 7-years making it very hard to get any other type of loan without making massive down payments, paying huge fees and State maximum interest rates.

You do not want this to happen, talk to them get a deferment or even sell the car and take out a small loan for the difference if you have to.

A repossession is one of the worst things that can show on your credit report.

I can no longer make my auto loan payments, can the finance company garnashis my wages?

Only if they get a court order. I would sit down with them and see what they can do for you. Better for you to call them than for them to call you.

Garnishment might give you troubles with your job. Call them now.

I can no longer make my auto loan payments, can the finance company garnashis my wages?

They will repo the vehicle before thet garnish your wages. Read the contract you signed thoroughly and see what the stipulations are. I believe they need to go through the legal system and get a court order before they can garnish your wages.

I can no longer make my auto loan payments, can the finance company garnashis my wages?

Alot of times if you call them and talk with them about this they can work out a payment plan or you may qualify for a defferd payment. Thats where they put a car payment back to the end of your loan. Meaning if your last payment is due on Feb of 2009 you will actually be done in March 2009 because you got a defferd payment. I would ask them about this my car company did this for me when I got into though times.

I can no longer make my auto loan payments, can the finance company garnashis my wages?

simple answer NO, the car was used as collateral, they will repo it , then sent you a bill for the difference between what they sold it at auction and the balance of what you own on it, then if you don't pay that bill they have a choice to proceed with collections or not

I can no longer make my auto loan payments, can the finance company garnashis my wages?

After it goes to court etc...it will take a while before they do that. They can also garnish your bank account. Try to work with them!

I can no longer make my auto loan payments, can the finance company garnashis my wages?

They will first take back your car. They will re-sell it and if the sale price doesn't cover what you owe, you are responsible for the difference. If you do not pay, they can garnish your wages but not without a court order.

I can no longer make my auto loan payments, can the finance company garnashis my wages?

Call them up. Some creditors will work with you in times of need if you have a good history with them and if you are upfront about things.