Can a creditor repossess a vehicle and sue you for the deficiency then resale the vehicle?
in most cases they will sell the vehicle at dealer auction, then bill you for the rest.
example: you owed $13,000 at time of repossion. and the bank got $5000 for the car at auction, you would legally still owe the bank $8,000 . at this point you may be able to work out a payment plan with the lender, but failure to pay will result in a lawsuit.
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