Best Answer

They are not lying to you. A repo is a repo is a repo.

User Avatar

Wiki User

โˆ™ 2005-08-11 02:49:39
This answer is:
User Avatar
Study guides

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

See all cards


30 cards

The existence of an international division of labor among countries enables those countries to have what

What provides a bank with collateral on a car loan

What is one of the disadvantages of getting a government-sponsored mortgage

What does a good credit history do for consumers

See all cards


31 cards

The existence of an international division of labor among countries enables those countries to have what

What provides a bank with collateral on a car loan

What is one of the disadvantages of getting a government-sponsored mortgage

What does a good credit history do for consumers

See all cards

Add your answer:

Earn +20 pts
Q: If you voluntarily relinquished your car due to your unemployment status can you be subpoenaed to pay the remaining balance after they sell the car at auction?
Write your answer...
Related questions

Why isn't full employment the same as zero unemployment?

Full employment doesn't mean that there is zero unemployment. Full employment only means that the economy is operating at full employment because there is only structural unemployment, frictional unemployment, and seasonal unemployment. Remaining unemployment is cyclical. Even when an economy is working properly, it will experience frictional, seasonal, and structural unemployment. (gp)

If you can't pay for your vehicle can you voluntarily turn in your vehicle?

Im pretty sure even if you did voluntarily hand it back you'd still have to pay the remaining balance. They won't just tanke back a car and call it good.

What happens to the balance left at the exhaustion of an unemployment claim?

Because all employment benefits are paid from a state unemployment fund, the balance is reserved for any remaining claims.

How long can a US citizen can stay out of US without losing his citizenship?

A US citizenship can only be voluntarily relinquished. Even if you undergo a 'potentially expatriating act' such as serving as an officer in a foreign military, it is still assumed you intend to retain US citizenship unless you specifically wish otherwise. In any case, simply remaining outside of the US is not counted as a potentially expatriating act, but if you sought naturalisation in that other country, with the express intention to relinquish US citizenship, would you lose it.

If the father of your children passed away and he was receiving unemployment can you still file his claim?

If he passed away, that means he's not unemployed. That also means that the remaining parent shouldn't be filing for unemployment. GET A JOB!

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.

How do you return an unpaid car?

If it is too difficult to maintain payments on a car loan, it is possible to voluntarily give it back to the creditor or dealership. In some states, however, a creditor can sue for the remaining balance owed on the loan.

What do you do if your unemployment benefit year ended and you had a remaining balance in your account?

Each state has their own way of handling these situations. You need to contact your state employment office to find out about yours.

Can you collect unemployment if you quit your part time job that you were collecting partial unemployment with for a full time job and then are fired?

There are too many variables in your question for a definitive answer. Your state, work history for the full time job, benefits remaining for the older part time job, qualifications for receiving benefits, etc.

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.

If I voluntarily break my lease but someone else wants to move in am I required to pay a fee or the remaining time on the lease agreement.?

It is going to depend on the management company. However, they will have to put in the same amount of time cleaning and making the apartment ready for the next person. So, you will pay at least a penalty for leaving early. Again, whether they are going to require payment for the remaining months depends on your lease and on their willingness to work with you.

Can a finance company continue to charge interest on the loan after a vehicle has been voluntarily surrendered?

Yes. The interest is charged on the money owed to them. When you surrender a vehicle, they sell it, and it often goes to a wholesale auction, which means they're going to get less than the remaining balance. You're still liable for that remaining balance, under the same terms and conditions as what was agreed to when the loan was made.

Is a person responsible for the remaining balance of a reaffirmed car loan when it is voluntarily returned to the dealer after a bankruptcy?

Yes. When you reaffirm you agree to continue the debt and it is removed from the bankruptcy estate. Also, the debt in this case is post-peition.. as in it came about after the date of filing.

What happened to the Dutch colony known as New Netherlands?

It's more involved than this explanation, but a quick and dirty answer is. There were a series of wars between the British and the Dutch over this territory. After each one the Dutch came out on the short end. Finally, while the third was going on the Dutch were attacked by several European powers. They were unable to sustain and relinquished the remaining holdings of New Netherlands to the British.

Can the PRIMARY owner of a vehicle sue the COSIGNER for half of the remaining balance if the COSIGNER had the vehicle voluntarily repossed even if the PRIMARY had already been making payments on time?

You can sue anybody for almost anything today. Now, if you can win or not is the question. Talk to a lawyer or at the very least your state attorney general.

In the first century where did Jews live other than in Palestine?

It seems likely that many Jews did not return from the Babylonian Exile, voluntarily remaining behind, near the seat of the Persian government. Others had migrated to Egypt, where there was a large Jewish community in Alexandria. There was also a large Jewish community in Syria, as well as in Rome and Greece.

What is the last remaining and oldest monument remaining of the Seven Wonders of the World?

The Great Pyramid at Giza is the last remaining and oldest remaining of the Seven Wonders of the World

What is a sentence for remaining?

There are only two pieces of pie remaining.

How does Common Sense by Thomas Paine reflect the philosophy of John Locke's social contract theory?

Locke's social contract states that individuals give their country permission, either voluntarily or involuntarily, to assume some of their rights, and the individuals submit to the authority of the government, in exchange for protection of their remaining rights and freedoms. This theory relates directly to what Paine says in Common Sense, in that the colonies have participated in the social contract by forfeiting their righs to the English Crown, but the Crown has not upheld its end of the bargain and has not secured or protected their remaining rights.

What happens if you haven't paid the remaining balance after the repossession?

"remaining balance" as in what you are behind OR the remaining balance due on the loan??

What is the opposite of remaining?

The opposite of remaining is going, or gone.

How many tens are there in 56?

5 with 6 remaining

How many times does 8 go into 66?

8 times with 2 remaining

How many times does 6 go into 49?

6 goes into 49 eight times with 1 remaining

Do you owe Ford Credit If you voluntarily turn the truck in and Ford Credit sells vehicle at auction?

Each state is different, however, in most states the amount that the vehicle (collateral) is sold for is deducted from what you owe. You will still owe the remaining balance. If the collateral is sold for more than you owe, plus repossession/reconditioning expenses, the lien holder (bank) is in turn required to rebate you the difference.