Legal Question in Credit and Debt Law in Pennsylvania
auto repo.
If your auto is reposed and re-sold are you still responsible for the original cost of the vehicle?
Asked on 6/30/09, 3:07 pm
1 Answer from Attorneys
Greg Artim
Morrow & Artim, P.C.
Re: auto repo.
If your car is repossessed, they will sell the vehicle at auction, likely for a fraction of what it is worth. You will be responsible for the difference between what it is sold for and what your loan amount was.
Answered on 6/30/09, 8:23 pm
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