Legal Question in Credit and Debt Law in Texas

Leased Auto repossessed

I had a five year lease on a new truck and I had the vehicle repossessed. They sold the truck at auction and say that I still owe $14,000 in debt. Do I have to pay back this debt?? What can they do to me if I don't???


Asked on 6/12/07, 9:21 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Leased Auto repossessed

This is the balance due on the lease, plus late charges and other charges allowed by the lease plus attorneys fees, court costs and interest on the judgment. Yes they can try to collect it from any resources that you might have available.

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Answered on 6/12/07, 12:11 pm


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