Answered on Jan 16th, 2011 at 10:58 AM
I could provide more thorough information if you would call me directly. Yes, you could eventually be taken to Court, but it would take a while for the situation to get to that point, even after the vehicle was repossessed. In the short term, ceasing your payments would result in collections activity and the eventual repossession of the R.V. It would be better to sell it, rather than to start that long, unpleasant process. Do you have any equity in the vehicle? If there is no equity in the vehicle, and you need the money to survive, then perhaps a lawsuit against you would not be a financial boon to the creditor. Also, never participate with them or agree to anything. It is not uncommon for a vehicle creditor to repossess a car or vehicle and still try to enforce payment of the entire contractual amount! Obviously, you will not cooperate with any attempt at that type underhanded fraud. You could attempt to negotiate with the bank, but do not agree to pay more money if you are also losing the vehicle. I am often very disturbed by predatory financial practices upon the elderly. As I said, call an Attorney (e.g., me).