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YES, they can/will likely garnishee his pay AND/OR yours too. Especially if he doesnt pay, they will come after you and any assets you may have. Make him take care of this ASAP. When you co-signed, you said in effect, if he doesnt pay, I WILL. Good Luck

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โˆ™ 2015-07-15 21:40:26
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Q: Can the bank attach your pay for the deficiency on a repossession?
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Related questions

Can your wages be garnished for the repossession of a vehicle in Florida?

What happens is this, the vehicle gets repo'd. You still owe the deficiency after the vehicle is remarketed. The bank will take you to court for the deficiency. If you do not pay the deficiency if you are ruled against, they may garnish wages by court order. It takes legal action for wages to be garnished.

What are the repercussions of an automobile repossession?

First off you will be required to pay the repossession fees unless you voluntarily turned the car in. Secondly you will be required to pay the deficiency. The deficiency is the difference in the amount the lender sells the car for and the amount you owe. Let's say you owe $10,000 and they sell the car for $8,000. That leaves you owing the lender $2,000. Thirdly this repossession will be placed on your credit report and will stay there for 7 years. Repossession should be the last resort after you have talked to the lender and done all you can to avoid this. Sell the car to another individual even if you have to sell it for less than it is worth, then pay the lender the deficiency out of your pocket to avoid repossession. Have someone take over the payments. Whatever it takes to avoid this.

Does the car owner have to pay impound and storage fees after repossession?

A car owner has to pay impound and storage fees after repssession because that was their car. The bills are left to the car owner, no one else is going to pay their bills.

How do you get the car back from Car repossession in Delaware?

Pay it off, or, make some sort of deal with the bank to get caught up,

How do you get out of a repossession?

Pay the debt.

Can the repossession company hold your vehicle after it has been paid off to the bank in order to collect their repossession fee in the state of Arizona?

If a repo order goes out. The agent picks up the car and then you go and pay it off. Yes, then can still collect his fee from you or the bank because the agent did preformed their job. If the bank pays the bill they will just add it to the final pay off.

If the creditors repossessed a car and then sold it at an auction can you be made to pay for the rest of the money that they didnt get out of the auction?

Yes, you will have to pay the deficiency plus repossession fees. Your obligation was the balance on the loan no matter what the car actually sold for. If you do not pay they will sue you and you will loose in court.

How can you find out how the repossession guys found your car?

No, you have it wrong. The repossession guys found THE BANK'S car. Once the bank takes the right paperwork to the court, the vehicle is no longer yours and you have no rights to it. The bank may have hired a private investigator to find the vehicle, especially if there is enough value that they want to pay off some of the loan.

How do you stop repossession of vehicle?

pay what you owe

What to do to after a car repossession?

nothing pay your money

Can you get a car back after repossession?

Of course, call your bank and pay them what you owe and they will let you have it back as long as you have not waited so long that they have sold it to someone else.

What happens after a repossession?

After a repossession, you will need to pay a fine usually. For example, if this was a car being repossessed, you would have to pay a certain amount to get it back.

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