Repossesion of a Vehicle
Date: Fri, 11/09/2018 - 07:02
I recently had a vehicle repossessed due to not being able to pay the original amount each month I would like to know what I can do to try and settle with this creditor. Supposively the vehicle has been resold already.
If your car is already sold,
If your car is already sold, ask your lender if you have any deficiency balance.
If you have the deficiency balance. you have the option to pay the deficiency in full, or you can make repayment arrangements over time, or try for settlement. In some cases you don't have to do anything.
You can try to settle the
You can try to settle the auto loan debt with your lender if there is a deficiency balance. Lender can take several steps if you don't pay the deficiency balance. He can sue you and get a judgment against you to garnish your wages or levy your bank account.