Legal Question in Credit and Debt Law in Virginia
attachment of another auto
i had an automobile repossed last summer, the company sold the car for way less than the balance owed, which left a remaining balance of 7000.00 or so, the company keeps calling me and telling me that theyre going to attach to my other automobile which i am currently making monthly payments on. I am on a disability check and have a limited income as to what i can pay now, can they do anything as to putting as attachment on my vehicle, or anything else
1 Answer from Attorneys
Re: attachment of another auto
The purchase contract under which you bought the vehicle undoubtedly included a provision which makes you reponsible for any deficiency between what you owed on the contract at the time of the sale and the proceeds which were received from the sale of the vehicle after the repossession.
If the above is true, the creditor could seize your second vehicle to pay for the amount(the deficiency) you would still owe on the first one.
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