Legal Question in Credit and Debt Law in California

I had my boat repossed and the lender sent a bill for 14000.00 balance. They have offered a 3400.00 payoff but it will show paid off for a lesser amount on my credit.

I will be getting a inheritance shortly and do not want to be liable for entire 14000.00. I do not own a home presently, Can they take me to court for 14000.00 and levy bank accounts?

Asked on 8/31/09, 7:16 pm

1 Answer from Attorneys

Larry L. Doan Law Office of Larry L. Doan

Yes, of course they can. It's a deficiency on your loan after repossession.

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Answered on 8/31/09, 7:53 pm

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