Legal Question in Credit and Debt Law in Pennsylvania
car taken
my car was taken and the bank did not get enough money for it what can they do. they say for me to appear in court or will lose personal property, i was the co signer
Asked on 3/17/08, 6:44 pm
1 Answer from Attorneys
John Gibson
John W. Gibson, Esquire
Re: car taken
They are seeking what is called a deficiency judgment. You may be liable for the difference between the contract price and the sale price if they are determined to have taken commercially reasonable steps to sell the car.
Answered on 4/02/08, 1:04 pm
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