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Paid in full car repossessed for deficiency of other car note.

This is a discussion on Paid in full car repossessed for deficiency of other car note. within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I had a voluntary repo on a car last year. I guess when they sold it, they didn't make enough ...

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Old Nov 8th, 2007, 05:29 PM   #1
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Confused Paid in full car repossessed for deficiency of other car note.

I had a voluntary repo on a car last year. I guess when they sold it, they didn't make enough to cover what I owed. I have another car I own free and clear. Two days ago they repossessed this car to cover the deficiency on the other one. Can they do that? How can they repo collateral not attached to their debt? Please help.
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Old Nov 9th, 2007, 07:40 AM   #2
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Confused Re: Paid in full car repossessed for deficiency of other car note.

this is a loan and it became a debt since you never really paid it in full. personally you are still in debt and they can sue you and get a judgement, that means any property under your name is in risk, like that other car that was paid in full, i think.. next time buy it under someones elses name!!

al blanco
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