Can the bank garnish my wages after a car repo?
Auto finance is what I do for a living and if they take you to court and get a judgment and your State allows it they can garnish wages, attach bank accounts and file liens on any real property you may own like cars, boats, land and homes. All of this 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. And as far as your credit goes you can look for a lose of between 100-150 points as soon as the repossession hits. You would be much better off to sell the vehicle and take out a loan for the difference your payments would go down and you would save your credit.
