Legal Question in Credit and Debt Law in Iowa

I live in Iowa and my husband got fired from his job, we just purchased a new car which we can not make the payments on now. If it is repossessed are we still financially liable for the payments? Please let me know what happens next.

Asked on 6/30/13, 2:08 pm

1 Answer from Attorneys

Robert Luedeman solo practitioner

If the care is repoed and then auctioned as usually happens you are responsible for the deficiency, if any.

Read more
Answered on 6/30/13, 8:43 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Iowa