Legal Question in Banking Law in West Virginia
Reposession Law
After a reposession of a vehicle, I understand the creditor will auction the vehicle and then you are responsible for the difference due. What happens if you do not pay for the difference due? What legal actions are the creditors allowed to take?
Asked on 6/03/05, 12:28 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Reposession Law
Usually the contract governs, and I would need to see it before I could advise you. But assuming they can go after the balance after sale (called the "deficiency", they could sue you for the amount due, plus possibly attorneys fees and interest.
If you want me to review the contract, go to my website for FAX & E-mail info.
www.ebizlaw.com
Answered on 6/03/05, 12:53 pm
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