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If your car is repossessed you are responsible for the difference in what it brought when sold by the loan company and what you owed, plus the repossession charges. That is more than likely where the $9,000 comes from. Rarely does the car bring even close to retail, and most often is sold at wholesale price. This leaves you in the hole for the balance which you will have to pay. This is repossession is such a bad idea. You need to seek legal advice from a lawyer.

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โˆ™ 2010-12-06 01:44:33
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Q: Can a finance company garnish your pay for a car that was repossessed in 2004 and tack on 9000 dollar more then what you owed they started the garnishment in 2009?
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