Legal Question in Credit and Debt Law in Texas

Re: Repo of car

If my car get reposessed Do I still pay of the loan of the veichle or Am I no longer obligated to make payment for the item I dont have anymore


Asked on 8/29/06, 4:03 pm

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

Re: Re: Repo of car

Sorry, it doesn't work that way. You signed a contract to make the payments plus interest, late fees, collections costs and attorneys fees in the event of default. Nothing in the contract says anything about you maintaining possession of the vehicle. Now you owe more than the balance of the payments on the vehicle. If you want you could talk to them to see if they would work out something for you without obtaining a judgment.

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Answered on 8/29/06, 4:07 pm


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