Legal Question in Credit and Debt Law in Iowa

I live in Iowa and my husband got fired from his job, we just purchased a new car which we can not make the payments on now. If it is repossessed are we still financially liable for the payments? Please let me know what happens next.

Asked on 6/30/13, 2:08 pm

1 Answer from Attorneys

Robert Luedeman solo practitioner
0 users found helpful
0 attorneys agreed

If the care is repoed and then auctioned as usually happens you are responsible for the deficiency, if any.

Read more
Answered on 6/30/13, 8:43 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Iowa

Looking for something else?

Get Free Legal Advice

88423 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Michelle ScopelliteGoldstein & Scopellite, PCTucson, AZ
Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now