Legal Question in Credit and Debt Law in Florida

voulentary reposession

if a vehicle is leased and a party is unable to pay monthly payment, what happens when said vehicle is voluntarily returned. thank you vicki


Asked on 5/25/01, 8:24 pm

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: voulentary reposession

You will probably be sued for the balance of the lease contract..after the vehicle is sold.

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Answered on 6/23/01, 11:27 am
Anthony Comparetto Comparetto Law Firm

Re: voulentary reposession

If you read your lease document it allows the lender to repo the car and sell it at a auction coming after you for the difference between the value of the lease + the buyout and what it is sold for. It is a very unfair law that can leave you with a huge bill ....be careful

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Answered on 6/23/01, 3:14 pm


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