2006-12-05 03:14:25 · 6 answers · asked by wondering 1 in Cars & Transportation ➔ Insurance & Registration
Big misconception on some of the answers that needs to be corrected. Texas is a debtors State, this means that wages and so on can not be garnished for secured or unsecured debt. However garnishments can be done on items like past due federal taxes, child support and so on. If you are sued a lien can be put against you or any real property IE a home you may own unless you make an arraignment to pay or pay off the debt. But your wages can not be garnished for this in the State of Texas. If a collector tells you that your wages will be garnished unless you pay the past due amount and they know that you live and work in the State of Texas they can get in big trouble for it. Remember not being able to garnish wages only applies in the State of Texas and a few others because it’s a debtor State, be careful if you move out of Texas.
To answer your question the finance company can sue you for any amount you owe less the difference of what they sold the car for and so forth but most wont. Most just report you to the credit bureaus as either a voluntary repossession or involuntary and report on your credit the total amount due. They will continue to try and collect that amount till they hit a dead end. Even if you pay the full amount it will still remain on your credit as a repo for 7 years.
2006-12-05 04:08:49 · answer #1 · answered by deanspurrier 3 · 0⤊ 0⤋
I dont think its really considered suing, but you can get your wages garnished from your employer. They have to have a court order to do so, and they will get one. This happened to me when I had a new Mazda Protege like 4 years ago. They wouldnt except the payment work-out that we were supposed to be able to do, so they came and took my car. They then garnished my wages from my employer and charged twice as much as I actually was supposed to pay for the vehicle. So be careful and pay your debt to them as soon as possible, because it really sucks when you car is repoed
2006-12-05 03:20:45 · answer #2 · answered by Anonymous · 0⤊ 1⤋
The finance company will sell your repossessed car. If they cannot recover at least what you owe them on the balance of your loan they will sue you for the balance.
Example: You owe $10,000. They sell the car for $8,000. You will owe $2,000 plus any expenses they had for reposessing, listing, and selling your car.
2006-12-05 03:17:54 · answer #3 · answered by Emily B 4 · 2⤊ 0⤋
The decide has rewarded the vehicle in want of her, and for her each and each day undemanding use and reachable. If it truly is a divorce settlement than you should pay. although if she commerce-in and get herself a sparkling vehicle, then she has to pay herself for the version.
2016-11-30 04:13:41 · answer #4 · answered by boshell 4 · 0⤊ 0⤋
YES, THEY CAN MAKE YOU PAY FOR THE MEALS THE REPO GUY ATE WHILST REPOING YOUR CAR AS WELL AS ALL COSTS INCURED, TOWING FEES AND IF THE FINANCE SELLS THE CAR TO AN EMPLOYEE FOR 10 DOLLARS THEN YOU ARE STILL, UNDER TEXAS LAW, RESPONSIBLE FOR THE DIFFERENCE...IT IS RIDICULOUS SO IT'S BEST IF'N YOU GIVE THEM THE CAR INSTEAD OF THEM COMING AFTER IT.THEY CAN THEN TAKE YOUR INCOME TAX REFUND AND WHTEVER ELSE THEY CAN FIND TILL IT IS PAID...
2006-12-05 03:17:46 · answer #5 · answered by Anonymous · 0⤊ 2⤋
yes - they can garnish your wages, take money out of your bank accounts, and take your tax returns
2006-12-05 03:16:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋