Legal Question in Consumer Law in Georgia

Re: Auto Repossession

If everything is done properly according to Georgia law, the lender will be able to sue you for the difference between the amount that the lender recovered on the resale of the vehicle (after repossession) and the amount still owed. You should know that many times the amount that the lender can get for a repossessed vehicle is less than what one would think is the vehicle�s value. The law must be strictly followed for a lender to collect the deficiency from you. For instance, you should receive one or more notices about the lender�s sale of the vehicle. Other formalities must be met.

This answer, though responsive to the question is general in nature. It is not designed to be and should not be relied on as your sole source of information when analyzing and resolving a specific legal issue. Each fact situation is different; the laws are constantly changing. If you have specific questions regarding a particular fact situation, I urge you to consult with competent legal counsel.