Legal Question in Credit and Debt Law in North Carolina
paying a car debit
my truck was totaled out in dec of 04, can the company put a lean and garinish my wages for the balance the insurance didn't pay?
Asked on 1/20/07, 11:59 am
1 Answer from Attorneys
Anthony DeWitt
Bartimus, Frickleton Robertson & Gorny, PC
Re: paying a car debit
Yes. Insurance only pays the depreciated value of the truck. If you owed more than insurance paid, then the amount is considered the deficiency amount, and you can be held liable for it. A loan company will first have to secure a judgment against you, but assuming they do that, you'll owe the money and you'll be subject to garnishment.
Answered on 1/22/07, 11:06 am
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