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2006-08-21 05:04:36 · 7 answers · asked by liz777 2 in Politics & Government ➔ Law & Ethics
If they were not able to get what you owed out of the resale or auctoin, you owe the diffrence
2006-08-21 05:10:28 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I'm not a lawyer, but If you have "turned in" the vehicle as you are 'unable to pay' for what ever reason, then I would think that the paymetns would indeed stop.
YOu could merely be the victim of a computer problem. Computers kick out reminders, invoices and even collections on a timely basis. Contact a lawyer before you go further.
2006-08-21 12:10:55 · answer #2 · answered by Marvinator 7 · 0⤊ 1⤋
unfortunately the payments might not cease just because it was repossesed. The purchase contract you signed allows them to take the car back to limit thier losses unfortunately you borrowed the banks money to buy the car and signed a contract promissing to do so. so you responsability to pay is there rather the car was repossesed or not. you should call the Bank and disscuss it with them. as I think that them taking back the car should at least bring down the amount that you would have to pay back,
2006-08-21 12:15:35 · answer #3 · answered by Timothy C 3 · 0⤊ 1⤋
I've always thought that was the stupidest thing! If you couldn't pay and it was repossessed in the first place, then obviously you can't pay after wards! I think if your car gets repo'ed, then that should relieve you of the payments.
2006-08-21 12:12:14 · answer #4 · answered by First Lady 7 · 0⤊ 1⤋
It depends on if they are able to sell the vehicle for what it was owed. If they sell it for less than what you owe - then you will owe more money. If they sell it for more than what you owe they will refund money.
2006-08-21 12:51:27 · answer #5 · answered by Anonymous · 0⤊ 1⤋
If they repossessed it, payment should cease.
2006-08-21 12:09:40 · answer #6 · answered by Black Sabbath 6 · 0⤊ 1⤋
Why does this not surpise me?
2006-08-21 12:11:23 · answer #7 · answered by Special Ethel 3 · 0⤊ 1⤋