Legal Question in Credit and Debt Law in Ohio

if i had a car repoed and was sold and say i owe a balance but says it was charged off to my credit report, can they try to make me pay?


Asked on 3/27/13, 8:32 am

1 Answer from Attorneys
John Sauter Cloppert, Latanick, Sauter & Washburn

Yes. In most cases when a car is repo'd and then sold, a deficiency exists. The deficiency is the amount of the original purchase of the vehicle plus any late fees, expenses, storage fees, etc. minus the amount the car was sold for followed the repo.

You are legally liable for the deficiency. While a credit report would note the reposession, it would not contain information on the deficiency.

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Answered on 3/27/13, 1:12 pm


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