Auto Loans and Financing

If your car has been repossessed can they issue a deficiency judgment against you in Kentucky if the sale is less than the balance you owe?


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2015-07-15 19:21:19
2015-07-15 19:21:19 according to this state law, YES.


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If a garnishment has been ruled against you in a judgment it can be collected no matter where you are.

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No, you can have a judgment against you for a default.

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If it's the owner of your car loan and you defaulted then the car can be repossessed. If you have a judgment against you for any other debt then yes, if you own a car it may be seized by your creditor to cover the cost of your debt.

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If they have a judgment against you, yes. However, if they DO have a judgment against you, you should have been notified and it should be a matter of public record.

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Yes, if the state and loan documents allow for a deficiency judgment, the bank can sue for one after the home has been sold at the sheriff sale and there is a deficiency. If the homeowners are sued after the public auction and the bank gets a deficiency judgment, then bankruptcy can be used to discharge the judgment. However, bankruptcy can not be used in advance before a deficiency judgment or other debt even exists to preclude its possibility.

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