Legal Question in Credit and Debt Law in Pennsylvania

Voluntary repossession

We need to do a voluntary repo due to our current finances. Can the creditor come back on us to pay the remaining balance for what is owed on the vehicle after they sell it for?


Asked on 11/27/04, 12:21 pm

1 Answer from Attorneys
Mark Johns Mark Johns, Esquire

Re: Voluntary repossession

The creditor can come back for the balance owed. You probably are better off selling the vehicle yourself, rather than having them sell it because they can sell it at auction for a fraction of the retail value and they tack on reposession fees and storage charges. I offer free consultations.

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Answered on 11/27/04, 12:38 pm


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