Legal Question in Credit and Debt Law in Texas

reposseions

I have a car I might have to let go back. They told me even voluteer repos go against you now. I was just wondering if this was true? thank you J.B.


Asked on 1/05/08, 5:15 pm

2 Answers from Attorneys
TC Langford Langford Law Office

Re: reposseions

After you return the car, and they resell the car, you remain liable for any deficiency on the loan balance, as well as their costs incurred.

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Answered on 1/07/08, 5:58 am
Jeffrey Brashear The Brashear Law Firm, PLLC

Re: reposseions

Generally, repos (whether voluntary or not) always go against you. Also generally, the bank will sell the vehicle at an auto auction (normally at an extremely discounted rate) and hold you liable for any deficiencies and fess. If my law firm can assist you with this legal issue or any other legal matter, please contact my legal assistant Jennfier ([email protected]).

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Answered on 1/07/08, 11:33 am


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