Tuesday, July 12, 2011

What happens when your car gets repossessed in CA?

I'm not 100% sure about Ca. But in general after they repo it and you forfeit the vehicle it will be sold(probably at an auction) The difference between what you owe and what it sells for is called a deficiency balance.You still owe this money and they can get a judgment against you for it and it can be turned over to a collection agency just like the original debt.

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