Q: hello i need to know when my duties with a financed card debt ends if the car is towed and sold in auction.
the car dealer is suing the towing company because they sold the car. I don't have any car have to return the tag but they said that i have to continue paying the car payments remaining 6000.oo dollars.
A: Your obligation to pay the loan is complete when the loan is paid off.
If the car is sold at auction because it broke down and the sale is to cover storage or repair costs you did not pay, the amount realized from the sale will pay the bill for the storage or repairs and any excess will go to the payment of the lien on the car. But if there is a balance remaining, it remains your obligation to pay it.
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