then you still owe on it. you (as the debtor) are responsible for any remaining balance. when you don't pay that, you'll end up with a judgement and wage garnishment.
No. They will sell the truck at auction and it will bring what it will bring. You are then responsible for the balance.
The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL
It will most likely go to a wholesale auction where only licensed dealers are allowed to bid.
Usually, they do not have to tell you what they are about to do to your vehicle. But, the procedure is is that they will sell your vehicle in an auction.
they sell the auto at an auction sell it to the highest bidder and you the remainder
If your car is repossessed and you want to get it back, you can contact the finance company and clear any outstanding payments. They may agree to return your vehicle to you if they have not already sold it but be warned that lenders try and sell repossessed vehicles as quickly as possible to try and recoup funds. The finance companies often sell the repossessed vehicles at a car auction. Here they can be sold "as seen" and at a lower price than market value, thus they can be sold quickly. It is often possible to find out which auction your car is being sold at and you can get your repossessed vehicle back yourself by attending the car auction and bidding.
YOU DO, if there's anything left after the sale. Remember, if they sell at auction, it will be wholesale and NOT as much as you would pay for it.
Yes, they also have to send you official letter from auction at the price they sold it to deduct from the amount you own to the bank.
It will be far better for your credit if you pay it off and sell it. When THEY sell it they are more than happy to sell it at auction for a loss then turn to you to make up the difference. It can mess up your credit for a long time.
When your car is repossessed from the bank, the bank will sell it, usually at an auction. You are responsible for the difference of the selling price and what you owe on the car.