It is a rare instance when there is no further obligation after a car is repossessed. First, whether the repossession is voluntarily or involuntarily makes no difference in whether additional sums are owed. Also, a bank or finance company has the same duties under the law whether the repossession was voluntary or involuntary. If a
Archives for April 2014
Consumer Myth #4 – When your car is repossessed, whether voluntarily or involuntarily, you have no further obligation of payment.
Written by , April 28, 2014 , Uncategorized
Consumer Myth #5 – A divorce decree can remove a spouse’s liability from joint liability such as a mortgage, car payment or credit card account.
Written by , April 8, 2014 , Uncategorized
This is not true unless the mortgage company, car finance company or credit card company is a named party to your divorce case. Before the divorce was filed, you had a contract with the mortgage company, car finance company and credit card company. A divorce decree cannot change either of those contracts without the permission
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