QUESTION
Can a loan company sue me after repossessing my car?
Asked on Oct 30th, 2012 on Litigation - Georgia
More details to this question:
I’m getting another car from another dealer and I don’t want my current car any more I’m afraid that this loan company will come after me.
20 ANSWERS
Leonard A. Kaanta
Yes.
Answered on May 21st, 2013 at 1:18 AM
Motor Vehicle Accidents Attorney serving Lincoln, NE
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Lapin Law Offices
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It is difficult to give you a definitive answer to your Question, "Can a loan company sue me after repossessing my car?" without more information. Generally, if the amount you owe on the loan exceeds the value of your current vehicle then yes you could be sued for the difference by the loan company. Conversely, if the value of the vehicle exceeds the amount you owe then you should be entitled to money back when the loan company sells the vehicle. You should look at your loan documents as they may indicate whether you can be sued if the vehicle is repossessed. You may want to consult with an attorney to further discuss your rights and options.
Answered on Nov 08th, 2012 at 5:32 PM
Dennis P. Mikko
After the repossession and sale of your car, if there is deficiency on what is owed, the loan company can sue you for the deficiency.
Answered on Nov 02nd, 2012 at 1:53 AM
Criminal Defense Attorney serving Alhambra, CA
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Francis John Cowhig
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It is possible that they can sue you for the difference between the resale value of the car and the amount left on the loan.
Answered on Nov 01st, 2012 at 4:37 PM
Automobile Negligence Attorney serving Orlando, FL
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Kelaher Law Offices, P.A.
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They will sell the car at auction, and then sue you for any sums which constitute the difference between what you owe on the car and what they get for the car at the auction.
Answered on Nov 01st, 2012 at 4:36 PM
YES if there is an outstanding balance still owed.
Answered on Nov 01st, 2012 at 4:36 PM
Michael J. Breczinski
Yes they can sue you for the balance ofthe money owed after they sell the car and deduct that amount.
Answered on Nov 01st, 2012 at 4:35 PM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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If you still owe money on the purchase price you may be sued. Just repo the car does not necessarily erase the debt. The car when sold (usually at small price, sometimes wholesale) may not bring enough to pay your debt. You get sued.
Answered on Nov 01st, 2012 at 5:02 AM
Yes, it can if there is stll an amount owed on the loan.
Answered on Nov 01st, 2012 at 4:55 AM
Plaintiff Animal Bites Attorney serving Missoula, MT
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Bulman Law Associates PLLC
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Yes. They sold it at auction for low price and you owe the costs plus.
Answered on Nov 01st, 2012 at 4:40 AM
Ronald A. Steinberg
Yes. If the amount you owe is more than it is worth, they sue for the difference.
Answered on Nov 01st, 2012 at 4:05 AM
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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Yes. They must sell the car in a commercially reasonable manner. If the sale is for an amount less than what you owe, they can sue you for the deficiency. Sometimes they sue, sometimes they don't.
Answered on Nov 01st, 2012 at 3:33 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Yes, they can sue for the difference between what they got from selling it and what you owed on the contract. It is called a deficiency.
Answered on Nov 01st, 2012 at 3:32 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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Yes they can. If they repo, or you surrender the car, they will sell it for a pittance, then come after you for the shortfall. If it's not too late, sell the car for the amount that you owe. If you can't get that much for it, kick in the difference.
Answered on Nov 01st, 2012 at 3:25 AM
Criminal Defense Attorney serving Bloomfield Hills, MI
Partner at
Law Offices of Marshall S. Tauber
2 Awards
Yes. They can legally pursue you for the loan balance if it is higher than the value of the repossessed vehicle.
Answered on Nov 01st, 2012 at 3:19 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Yes, they will sell your returned car and then come after you for the difference between the net sale price and your note balance.
Answered on Nov 01st, 2012 at 3:10 AM
Michael Paul Vollandt
Yes. If there is a deficiency owing after they sell it at auction. You are on the hook for the balance.
Answered on Nov 01st, 2012 at 3:01 AM
Personal Injury — Plaintiff Attorney serving Taylor, MI
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Downriver Injury & Auto Law
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They will sell the car for nothing and sue you for the difference.
Answered on Nov 01st, 2012 at 2:59 AM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
Yes, they can for any deficiency they incur after they sell the car.
Answered on Nov 01st, 2012 at 2:56 AM
If you owed money on the car they repossessed, yes indeed they can come after you for the balance owing.
Answered on Nov 01st, 2012 at 2:53 AM