Legal Question in Consumer Law in Texas
Voluntary Vehicle Reposession
My husband & I were laid off because of the market crash. We had an '05 F350 that we were unable to make payments on so we turned it in. Ford was able to auction the truck off but now they are saying we have to pay the balance owed. Can they do this? We still don't have jobs and the unemployment check is miniscule.
Asked on 1/28/09, 12:02 pm
1 Answer from Attorneys
TC Langford
Langford Law Office
Re: Voluntary Vehicle Reposession
Yes, despite your cooperation in returning the vehicle, it is still a repo, and you are liable for the balance remaining after the sale.
Answered on 1/28/09, 12:06 pm
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