answersLogoWhite
Repossession
Loans
Money Management

If a car is repossessed and you are not contacted again should you contact and try to pay the balance?


Top Answer
User Avatar
Wiki User
2015-07-15 19:27:44
2015-07-15 19:27:44

It depends on the contract you signed. Title loan places are not usually allowed to sue for deficiency balances. Everyone else will. so if you dont contact them, they will contact you. Interest is building up, your best option is to contact and try to set up a payment that you can pay. IF THAT APPLIES to the contract you signed. Good Luck

Related Questions

User Avatar

The lender should let you know, you can contact them and they should tell you.

User Avatar

Randy, IF it sells for more than the unpaid balance, you should receive the excess.

User Avatar

Yes, with most banks. You should contact your bank for details.

User Avatar

It is not likely to be dangerous, but a doctor should be contacted for precautions. yea you should contact a doc. and this dose not answer my question, i asked what will happen not what you should do.

User Avatar

Contact your probation officer. If you are off probation with an outstanding balance, simply call the office and ask. Likely as not, should the second scenario be, you will be contacted by a collection agency and they can give you the balance. However, if dealing with a collection agency, and you choose to pay them, keep meticulous records of your payments, and when you send your last payment, write this, "Paid In Full," on the endorsement portion of your check or money order.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.