Legal Question in Criminal Law in Texas
What is the penalty for abandoning a vehicle im still making payments on?
Asked on 8/09/12, 3:29 pm
1 Answer from Attorneys
Mark Dunn
Mark D. Dunn
The "penalty" will be that the lender will repossess the vehicle, sell it, apply the proceeds to the loan, and come after you for the deficiency (the difference between the proceeds and the balance of the loan. And there will be a deficiency). These things will show up on your credit report. Eventually, the lender may sue you.
Answered on 8/10/12, 8:49 am
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