Ask Experts Questions for FREE Help !
Ask
    ntp1984's Avatar
    ntp1984 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 27, 2007, 07:51 AM
    Auto repossesion
    What if you haven't paid on your car loan because you couldn't afford it and you haven't really received calls from the bank and they still haven't repossed your car? Could you go to jail?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Aug 27, 2007, 07:54 AM
    No, there is no debtor's prison. You should be trying to sell the car yourself if you can't afford it. Otherwise they will, eventually, repo the car, sell it at auction (for less than the balnace) and come after you for the balance due.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Collection agency and vehicle repossesion [ 3 Answers ]

Is there any instance when a collection agency can repossess vehicles?

Manufactored Home Repossesion [ 1 Answers ]

Why will lending company not repossess a home that can not be paid for any more? Homeowner does not live in home, home is vacant.

Volunteer Repossesion [ 5 Answers ]

In Feb. I leased a car 45,000.00 ( I tried to get out of it at the last minuted but the dealer said I couldn't I know my fault should have looked into it more) anyway kept it one month couldn't afford it. Called the lease co. told them I couldn't afford it. They told me to try to sell it , etc. I...

Repossesion of a Mobile home [ 3 Answers ]

When can they take the home legally

Manufactured home default law before repossesion [ 7 Answers ]

I just have a question about the law that surrounds manufactured homes (mh). Our mh loan is due on the 1st, we are generally always late, usually paid on 12th or later. We never not pay, we pay. The company that our loan is through has a guy who is completely rude. He considers it 30 days late...

View more questions Search