== == I know they can't garnish your wages but not sure about liens.
The primary borrower is responsible for this debt, but if they do not make arrangements to pay the remaining balance of this debt (once its auctioned off) then you will be fully responsible for the remaining balance.
The lender will sell the vehicle and you are responsible for the deficency. They will sue you for the balance left on the loan after the sale of the vehicle. The court will order you to pay and they can garnishee your wages.
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.
Is responsible of all voluntary or conscious thought.
Yes, you're responsible for the balance.
Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.
YES, a lender can get a judgment for the balance owing on a loan after repo.
"remaining balance" as in what you are behind OR the remaining balance due on the loan??
You are responsible for the remaining balance of what the vehicle sells for and what you owed when it was repo'd.
Read your contract. In 99% of the repos , YES, you still owe the balance due.
Yes. Additionally, you will be responsible for any late fees, repossession fees, storage fees, transportation fees, and legal fees and court cost incurred during the repossession process.
Yes, you can sue a co debtor for at least half of the remaining balance. You would owe part of it as well.