Auto reposession
I lost my job in the last month and must turn in a new car I Bought 2 years ago. the amount I owe is 15,000. If the car brings 8,000 at auction,must I pay back the other 7,000 or will it be written off as bad debt similar to a bankruptcy. I live in Texas what is the law here?
Asked on 6/15/03, 10:09 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Auto reposession
You remain obligated for the balance of the note.
Answered on 6/16/03, 10:21 am
