Legal Question in Credit and Debt Law in Oklahoma

Lemon Car

My daughter in law bought a car that has turned out to be a real lemon, she wants to let it go back, (repo)if she does this will she have to pay any cost, after the bank resells it? If they dont' get what she owes on it after they re-sell it?


Asked on 8/27/01, 7:46 pm

1 Answer from Attorneys

Lisa Bohannan The Bohannan Law Office, P.C.

Re: Lemon Car

I would have to be provided with more facts to give you a complete answer; however, based upon the limited facts provided, most likely yes, your daughter-in-law would have to pay the costs of re-possession which would be added together with any deficiency resulting from a sale for less than amount owed. However, this answer can change depending upon how much was financed and how much was owed. The UCCC has provisions limiting the creditors recovery in certain instances. But again without knowing all facts, I cannot advise completely in this regard. Also this will obviously negatively affect your daughter-in-law's credit rating.

There may be some other federal and state remedies avaiable to your daugher-in-law. She should contact an attorney in her area to determine her rights with regard to this purchase.

Read more
Answered on 9/17/01, 1:45 pm


Related Questions & Answers

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