We had a vehicle reposessed because of finances and there will be balance after the vehicle is auctioned
2007-12-26 09:42:41 · 5 answers · asked by Lyle S 1 in Cars & Transportation ➔ Insurance & Registration
yes - you signed for the loan and you are responsible for the balance - even after the repossession. Perhaps you could have gone to the lender and re-negotiated the loan - but, it looks like it's too late now.
Good luck and I hope this helps!
2007-12-26 09:53:16 · answer #1 · answered by Insuranceman 6 · 0⤊ 0⤋
Yes they can attempt to collect.
2007-12-26 12:29:12 · answer #2 · answered by mistress_coleen_01 4 · 1⤊ 0⤋
Yes, unless you declare bankruptcy.
2007-12-26 11:07:25 · answer #3 · answered by Chris F 3 · 1⤊ 0⤋
Yes. You agreed to it when you signed your contract.
2007-12-27 03:18:26 · answer #4 · answered by Scott H 7 · 1⤊ 0⤋
Yep - you owe. You took out the loan - you owe for it.
2007-12-26 11:49:51 · answer #5 · answered by Boots 7 · 1⤊ 0⤋