Legal Question in Credit and Debt Law in Georgia

car loan

Traded a car in for another car. The traded car still had a balance. The dealer did not pay off the balance and filed bankruptcy. Am I still responsible for the balance of the loan on the car that was traded in?


Asked on 6/17/09, 8:00 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: car loan

Since you say nothing about the lender letting you off the hook, in all likelihood, yes. Your loan and contract were with the lender and not the dealer.

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Answered on 6/17/09, 8:06 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: car loan

yes

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Answered on 6/17/09, 8:06 pm


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