Legal Question in Credit and Debt Law in Texas
auto loan
i voluntarily returned my car i could no longer afford payments the bank accepted it i was told that in this state since i returned it before it was in default i no longer owe them, is that true?
Asked on 10/06/08, 3:18 pm
1 Answer from Attorneys
TC Langford
Langford Law Office
Re: auto loan
No. The car will be sold, and if there is a deficiency (which there almost always is), you will owe that remaining balance (and their expenses in the sale).
Answered on 10/09/08, 6:52 pm
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