Legal Question in Credit and Debt Law in New Hampshire

am i responsible

because of illnes, i had to return a van that i still owed on. i was never late with payments. according to the contract i signed, i was told that if i didn't pay the van would be repoed. there is a balance that the bank is owed from the action of the van. am i still liable for the balance? i thought that the van was collateral.


Asked on 11/19/03, 10:11 am

1 Answer from Attorneys
Roy Weddleton Granite Law

Re: am i responsible

Under a normal purchase you would be liable for the balance if a sale of the vehicle does not produce enough to pay it off.

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Answered on 11/19/03, 10:28 am


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