Legal Question in Credit and Debt Law in Texas

car repo

what is the law for a car being repo. what is my rights and do they sale the car then we are expected to pay the loan off or do they have to put the money they get for the car on our loan then we pay off the remain bill. Can they granish use for the loan or take use to court over the loan? any information would be helpfull. please get back to me as soon as possable


Asked on 6/10/03, 10:05 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: car repo

When a vehicle is repo'd, if you don't pay the money to get it back, it gets sold at public auction. The money is first used for costs of sale, then costs of repo, then the balance is applied against your note. You are responsible for the unpaid balance on your note.

If you don't pay the balance, the lender can sue you for the balance.

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Answered on 6/10/03, 10:38 am


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