Legal Question in Credit and Debt Law in Georgia

Reposed car

My son had a car reposed. They autioned the car off for a fraction of what he owed. They now want the balance of what he owed them. Is this legal? They got the car back, so how can they still ask for the money he ows them?


Asked on 10/18/06, 5:59 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Reposed car

Of course it is legal. He owes the outstanding balance of the loan. That does not go away because they had to repossess the car and sell it at auction. It is spelled out in the loan documents, which should be read and understood prior to signing.

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Answered on 10/18/06, 6:02 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Reposed car

He's liable for the deficiency. His loan papers will say that.

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Answered on 10/18/06, 8:01 pm


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