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

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

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