Cars & Vehicles
Repossession
Loans

Since your car has been reposessed can you be made to pay the balance legally?

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2005-09-18 18:55:51
2005-09-18 18:55:51

As far as I know, in this state if it's repo'd it's sold at auction then your responsible for any balance left remaining between what's owed and what it brought at auction. But that's here and could be different by state. Yes you can, If the car is taken from you, you can be held legally responsible. They will take and sell the car at auction to the highest bidder. You are then responsible for all costs inccured from the sale. The balance remaining.

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