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If your car has been repossessed can they issue a deficiency judgment against you in Kentucky if the sale is less than the balance you owe?
Wiki User
∙ 8y ago
http://www.lrc.state.ky.us/KRS/426-00/005.PDF according to this state law, YES.
Wiki User
∙ 8y ago
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If a car is financed in Texas and repossessed in Kentucky can the lender garnish your wages in Kentucky?
If a garnishment has been ruled against you in a judgment it can be collected no matter where you are.
If you filed bankruptcy and are now facing foreclosure can the bank get a personal deficiency against you?
Yes, if the state and loan documents allow for a deficiency judgment, the bank can sue for one after the home has been sold at the sheriff sale and there is a deficiency. If the homeowners are sued after the public auction and the bank gets a deficiency judgment, then bankruptcy can be used to discharge the judgment. However, bankruptcy can not be used in advance before a deficiency judgment or other debt even exists to preclude its possibility.
Does Pennsylvania have an anti deficiency law?
No, you can have a judgment against you for a default.
What deficiency judgment laws in Maryland?
In Maryland, if a home is foreclosed on and the sale price does not cover the full amount owed, the lender can seek a deficiency judgment within three years of the foreclosure sale. However, there are various exemptions and limitations that may apply to protect homeowners from deficiency judgments in certain circumstances.
Can a civil judgment result in the repossession of a car that is co owned?
If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment. If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment. If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.
What is a deficiency judgment?
A deficiency judgment is where the owner of a mortgage or deed of trust is awarded a judgment against the borrower in the amount of: the amount of money owed in the mortgage or deed of trust minus the amount of money the property sold for at foreclosure sale If the above amount is a positive number, some states allow the lender to get a judgment for that amount.
How common are deficiency judgments in Florida?
Deficiency judgments are fairly common everywhere on large houses. The more the amount you owe on a house, the more you are likely to have a judgment filed against you.
Can the private mortgage insurer sue the homeowner for the deficiency it pays to the lender after a foreclosure?
Yes, the private mortgage insurer can sue the homeowner for the deficiency. They can get a judgment against the home owner for the difference.
Is it legal in Texas if you had a car repossessed about 2 years ago and now the law office has put a lien against your home making it unable for you to refinance your home?
The lien is valid if due process of law was followed correctly. Meaning the party involved was sued, the plaintiff won the case, was awarded a judgment and executed the judgment as a lien against the defendant's property. During all these legal 'steps' the defendant should have received notification and time to respond. Undoubtedly the lien represents the deficiency and fees incurred when the repossessed vehicle was sold. There might possibly be an appeal on grounds the suit and/or judgment was faulty and therefore the lien is not valid. This requires research as to the data contained in the lawsuit petition, writ of judgment, and any other contributing factors. To obtain copies of the lawsuit and judgment documents the party involved can contact the clerk or administrator of the court where the writ of judgment was issued.
If your car was repossessed a few months ago and you owe 12K on it can they take any money from an accident settlement you are due to receive?
Only if they know you are getting it and have a judgment against you.
Can a creditor garnish your wages for a vehicle that they have repossessed?
Yes. There's a process they have to follow, which includes getting a court judgment against you. If you don't hold to that judgment (which is usually paying back the money owed), they can ask the court to garnish your wages.
If condo association forecloses on an owner does the lender pursue deficiency judgment against the owner or condo association?
Your attorney can help you answer this question, since it requires a legal answer.
