Legal Question in Credit and Debt Law in California

Can the bank come to me after I surrender my Trailor back to the bank in lieu of reposession for the balance owed. We purchased an RV/Trailor and turned it in. they are still showing it on my credit report as a late payment for the last year and say I still owe the balance. they have had it in their posession for over a year.


Asked on 10/26/09, 4:53 pm

1 Answer from Attorneys
Melvin C. Belli The Belli Law Firm

Unfortunately they can go after you for the balance of what you owe less what they were able to sell the RV for. Try to call them and settle the debt. The quicker you can pay the less they will generally take. You might ask them how they calculated the balance owed and how much they sold the RV or.

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Answered on 11/02/09, 12:25 am


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