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Due to financial difficulty, I had to break my auto lease. The Ally Financial sold my vehicle, and sent me a bill for deficiency in the amount of $5,200. I have received 2 bills from their Asset Recover Center. The debt is still with Ally. I have not hired an attorney yet, What is the best course of action here? I am willing to settle this debt. I have settled multiple credit card debts before for 20-30% of the balance myself, but they were all charged off and with collection agencies. Should I call them directly and offer a lump sum payment or wait until they move the account to the collection agency and deal with them then? I also have an option of hiring a BK attorney and have him/her negotiate a settlement. I live in NC. Wages CAN NOT be garnished here for such debts, i have no equity in home and I can exempt up to 5K in a bank account funds in case they obtain a judgment. I am basically judgment proof. However, i do not intend to neglect this. Any thoughts, comments? thanks in advance.