Legal Question in Credit and Debt Law in Iowa

I am surrendering my car to the loan institution. I can't afford it. Do I still have to pay the balance of the loan?


Asked on 11/17/09, 9:36 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

They'll auction it and you'll be responsible for the deficiency, which is the balance left after your payments and what they get at the sale is deducted from it.

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Answered on 11/22/09, 11:15 pm


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