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 ?
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.