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What happens to your credit if your car is repossessed and what are your monetary responsibility?

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2004-08-31 18:42:14
2004-08-31 18:42:14

Likely, you will be sued for the amount owed after the car is sold. IF they get a judgement, they will have the option to garnishee your wages and/or attach other property that you own. YOU will have the option to try again to work out a payment schedule that you CAN afford on a car you DONT have. Or do the B/K route. Your credit will NOT be good either way. It is NOT fatal. Hard work will pull you back up.

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