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The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.

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โˆ™ 2010-04-10 23:10:36
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Q: What happens if you can't pay any remaining balance on a repossessed car and do not have a job?
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