Legal Question in Credit and Debt Law in Texas

if a vehicle repossessed what am I liable for or what can happen. i need free advice


Asked on 4/29/10, 9:23 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

The folks who repossessed the vehicle will sell it, apply the money to the unpaid balance of the car loan, and then hit you up for the rest (the "repossession deficiency"). Eventually, they may sue you for the deficiency.

And the repossession will show up on your credit report.

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Answered on 5/05/10, 11:58 am


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