Legal Question in Credit and Debt Law in Indiana
automobile repossed
i had a auotmobile repossed and they sold it at a public auction and but it didnt sell for the payoff amount and so the company charged off the rest but now they still want me to paty the amount that they charged off Is this legal?
Asked on 9/22/08, 7:28 pm
2 Answers from Attorneys
Martin Hancock
MARTIN HANCOCK
Re: automobile repossed
Yes, you are liable for the deficiency. They can sue you for a deficiency judgment. You might consider filing bankruptcy to get rid of it.
Answered on 9/22/08, 7:46 pm
Martin Hancock
MARTIN HANCOCK
Re: automobile repossed
Yes, you are liable for the deficiency. They can sue you for a deficiency judgment. You might consider filing bankruptcy to get rid of it.
Answered on 9/22/08, 7:46 pm
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