2006-10-11 14:06:59 · 5 answers · asked by missabbaleigh 1 in Business & Finance ➔ Personal Finance
Yes, I'm afraid so. The borrower is still responsible for the amount owed on the note....especially if the vehicle failed to fetch the amount owed at auction or through the bank sale.
If you're already at the point where your wages are being garnished, then it's best to let it go and learn. If, however, the account is still in the proposed trustee process...talk to the bank RIGHT NOW!! See if you can work something out -- a smaller payoff, a more suitable repayment plan...something. Most lenders will work with you if don't dodge their calls and disguise your voice when answering the phone. You'd be surprised sometimes as just how willing to work something out they are...and you might even sleep better. Good luck.
2006-10-11 14:18:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes, because you still owe them money. If you take the time to read your loan contract, you will see where it's in the contract.
2006-10-11 21:15:17 · answer #2 · answered by Steve 6 · 0⤊ 0⤋
Yes, If they win a judgement..
2006-10-11 21:15:48 · answer #3 · answered by D L 2 · 0⤊ 0⤋
yes they can, because your still under contract with them.
2006-10-11 21:11:23 · answer #4 · answered by webwriter 4 · 0⤊ 0⤋
Yes, they can.
2006-10-11 21:12:16 · answer #5 · answered by maxinebootie 6 · 0⤊ 0⤋