Owe money on a leased vehicle I turned in
I have a situation that I need free legal advice on. I live in MICHIGAN. Back in May of 2011, I turned in my leased vehicle. I was WAY over mileage which resulted in my owing Ally (Formerly GMAC) $7,800.00 (roughly). I contacted them to see if I could "negotiate" this amount as I am not in a position to pay it, and they were wanting me to give them $1,100.00 down and $200 monthly payments. They claim that is the LEAST amount they can take. If I don't respond by 9/16, they will turn the account over to a collection agency. What can I do to make the payments to where I can afford them monthly? I have rent, car payment, utilities etc. and do not have this amount to give them. Any suggestions would be welcome.