Killeen, TX asked in Bankruptcy, Contracts and Collections for Texas

Q: Will I still owe my lender money from a reposed car even though they told me I wouldn’t ?

I am in Texas, and bought a car from a Buy Here Pay Here dealership a few months ago. I ended running into financial troubles, and the car was repossessed. Because my financial situation was so bad at the time, I ended up letting the car go. After doing some research I learned they could still collect payment from me for a “deficiency” judgment.

I contacted the dealership and asked what I would still owe and she stated “We don’t report to major credit bureaus. You just wouldn’t be able to purchase a car from our lot again. “ does this mean I’d be relieved from any further payments ? I am just trying to avoid be suddenly hit with any wage garnishments and if possible work out some of payment plan with the dealer if I still owe. But from what she was saying over the phone it seems like I don’t owe anything ? If I did still owe , would they contact me about my remaining debt ?

1 Lawyer Answer
Timothy Denison
Timothy Denison
  • Bankruptcy Lawyer
  • Louisville, KY

A: They can still collect it and will attempt to collect it in the future. Be very careful dealing with the car lot.

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