answersLogoWhite
Ask
Repossession
Personal Finance
Loans
Money Management

If the bank sells the repossessed car for more than the amount of the outstanding loan are you entitled to the profits in California?

343536
Answer

Top Answer
User Avatar
Wiki User
2015-07-15 19:42:59
2015-07-15 19:42:59

The UCC says the debtor IS entitled to any excess above what is owed on the loan. That will include all fees(repo,auction,attorney,ect)

1
0

Related Questions

User Avatar

In theory but I have never heard of it happening. The bank will always add fees and charges that far outstrips the residual value of your car.

User Avatar

an unincorporated business owned by a single person who is responsible for its liabilities and entitled to its profits

User Avatar

It depends on what you mean. Could you rephrase the question?

User Avatar

check a shares website it could tell you company profits, shares and debts!

User Avatar

The partner does not have a right to receive dividends until it has been determined that there were profits on the capital.


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.