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Does New York allow deficiency judgments in auto repo cases?


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Wiki User
2015-07-15 18:47:35
2015-07-15 18:47:35

YES...imagine if they didnt, who would buy a car anywhere else???


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Many states allow deficiency judgments in one kind of foreclosure, but not another. Often, a deficiency can be pursued in a judicial foreclosure, but not if a power of sale clause is used to auction a home outside of the court process. Homeowners should look up their own state laws and type of foreclosure being used against them.The following list should be taken as a guide and not as legal advice or as particularly relevant to one borrower's case.These states allow deficiency judgments without limits in certain kinds of foreclosure:AlabamaAlaskaConnecticutDelawareDistrict of ColumbiaFloridaHawaiiIllinoisIndianaKentuckyLouisianaMarylandMassachusettsMissouriNew HampshireOhioRhode IslandTennesseeVirginiaWashingtonWyomingThese states allow deficiency judgments with certain limits on the amount that can be granted in a judgment:ArizonaArkansasCaliforniaColoradoIdahoIowaKansasMaineMichiganMinnesotaMississippiNebraskaNevadaNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOklahomaPennsylvaniaSouth CarolinaSouth DakotaTexasUtahVermontWest VirginiaWisconsinDeficiency judgments are not allowed on residential properties in Oregon under judicial foreclosure proceedings, and at all in power of sale foreclosures.

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The Statute of Limitations for judgments in New York is ten years. The maximum interest rate creditors can charge on these judgments is 8%.

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what is the statue of limitation on a bill i never recieved.dated 4/14/2003

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Kenneth H. York has written: 'Cases and materials on remedies' -- subject(s): Cases, Remedies (Law) 'Teachers manual for cases and materials on remedies'

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