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YES, read your contract again to see what you agreed to. Tx is still part of the United States so the laws are still (mostly)uniform across the land.

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โˆ™ 2015-07-15 18:46:23
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Q: Can the finance company or bank take you to court in Texas for a balance remaining on a voluntary repo that has already been resold?
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If you voluntarily return a vehicle to the finance company are you responsible for the balance after the sale of the vehicle?

Yes, a voluntary repossession does not mean the buyer is not responsible for any of the remaining loan debt according to the original contract terms or for any additional fees.


What if the company that repoed your vehicle sells it for less than you owe?

They will look to you for the remaining balance


What happens if you can't pay any remaining balance on a repossessed car and do not have a job?

The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.


Is commission a balance sheet or income statement account?

If commission is received or paid and benefit of which has already taken by company then it is an expense or income of company and will come in income statement but if the benefits are already not taken then it will be asset or liability and will be shown in balance sheet.


What happens to a vehicle if the financial company says they don't want it and they sue the owner for remaining balance after repossession and sale?

If the finance company has sold it, you have you answer. How can you be so stupid?


If I foreclose on my house can the attorney come after me for attorney fees?

What I know about this is that a mortgage company that forecloses your house has no right to get the remaining balance to you.


Where do you find positive and negative numbers in finance?

In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.


What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?

While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.


Why creditors would be interested in the balance sheet of a business?

Creditors are interested in balance sheet to check that how much money company has already taken as a loan from other creditors and how much assets are pledged and will company be able to return credit or not.


How do you use voluntary in sentence?

The company sponsors the charity drive, but participation by employees is voluntary. Some staff meetings are mandatory and others are voluntary.


What happens when your car is repossed?

The company physically takes possession of the car. They sell the car, and apply the sale price to the outstanding loan. You are then responsible for the remaining balance.


If a company has overdrawn its bank balance then what is the answer?

if the company has overdrawn it balance that means the company ow the bank' in other words the company had made an overdraft, it is the liability to the company..


What is the purpose of mortgage loans?

A mortgage loan is obtained when one is purchasing a house. In return for using the value of the house as collateral, a mortgage company will provide a loan for the remaining balance.


Can you close a credit card account if there's a balance on the account or must you pay the balance in full?

Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.


What do you mean by compulsory winding up of a company?

What do you understand by "compulsory" and "voluntary" winding up of a company


Do you call the finance company or just take the car to the dealer if you want to do a voluntary repossession and do you need to inform the finance company you're taking it back or will the dealer?

call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.


You co-sign for a vehicle are you liable to pay the remaining balance of that vehicle if it was auction by the lien holder?

You are jointly liable with your other co-signer. The finace company can, and will, come after both of you.


What are prepaid expenses and prepaid revenues how are they reported on the balance sheet?

Prepaid Expenses:These are expenses for which company has paid in advance but the benefits has not yet received that's why it is an asset of company and shown under current assets in balance sheetPrepaid Revenues or unearned revenues:These are revenues for which company has already received the payment from clients but services or products has not yet supplied so it is a liability of company and shown under current liability section of balance sheet.


What company makes new balance shoes?

New balance!


What is the trial balance of a company?

The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero


What is meant by the term voluntary insolvency?

Voluntary insolvency, also known as voluntary liquidation, is a type o liquidation or bankruptcy that is supported by the members of the Board of the company and is not forced by Chapter 7 bankruptcy.


I got a letter from a collections agency who states that I can still pay the balance due with the company I owe Blockbuster I have already paid the balance Will this appear on my credit report?

Very possibly. Contact Blockbuster immediately to try and resolve.


What will happen when a loan on a motorcycle has been defaulted and the finance company will not reprocess it?

If guess you mean "refinance" when you say "reprocess", the answer is repossession. Loans in DEFAULT are subject to repossession of the collateral and payment of the balance owed by voluntary or legal means.


What is a prepaid expense and where is it reported in the financial statements?

Prepaid expense is the expense for which payment has already made but the actual benefit has not yet taken by company so it is the asset of company and shown as current asset in balance sheet.


Is debentures in balance sheet?

Yes,debenture in the balance sheet because debentures is liability for the company so it comes debit side in balance sheet in the books of the company.