Legal Question in Credit and Debt Law in New York

Re: payments

I am not sure what is meant by voluntary repossesd. You gave it up voluntarily? THey did not take it? My guess is they will sell the car and you will be responsible for the difference between the sale price of the car, plus expenses associated with the repo of the car and the price you agreed to pay. So, if you bough the car for $15,000 and they got $10,000 for it at the sale and it cost them $1,000 to repo the car, you would owe $6000. $5000 being the difference between the price you agreed to pay and the $10000 they got for it at auction, plus the $1000 cost of repo. If I am confused, sorry. If you are unemployed, they will still be able to sue you, get a judgment (which will increase the amount you owe by ALOT) and wait for you to have assets they can seize.