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What happens in Texas if you voluntarily have your car repossessed and money is still owed after the car has been sold at an auction?

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2004-07-08 09:15:32
2004-07-08 09:15:32

Chris, I dont know the answer to the question YET. I will find out today. Email me latyer on and Ill have it for you. What does the lender "say" they will do???

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If i have a vehicle repossessed in the state of texas, is there anything that requires me to pay off balance after vehicle is sold at auction?

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I assume that you owed money on the car, defaulted, and the car was repossessed by the lender. At the time of auction, the title should have been transferred. The title should have been transferred when the car was sold. The auction house didn't handle the paperwork properly and will have a real mess to straighten out. But that does not entitle you to profit from the sale.

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Yes, TVs can be repossessed in Texas. The television that is purchased on a rent-to-own plan or that is in the process of payments for ownership can be repossessed if those payments are not made in a timely manner.

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If your car has been respossessed, you no longer have the right to continue paying it off because they have lost faith in your ability to make payments. The bank has already paid about 500 to a tow truck driver to find and recapture the vehicle. However, you could buy it back at auction. See your bank for the auction date.


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