[aultmanjohn]

My situation is this; we have a loan on a car that has been repossessed. The car was sold at an auction for less than we owe. The lender is threatening to sue us unless we agree to pay the difference. The lender has told us that us that if we don't pay the difference that they have the right to seize anything that we own or what we have possession of in to convert to cash to pay off their debt. Does the lender have the right to do that?

[ScottGem]

First, its not a good idea to piggy back your question on another thread. This can often cause confusion. So I've moved your question to its own thread.

Generally the lender does not have the right to seize anything you own. Most states have homestead laws that protect personal assets. But the lender does have the right to collect the balance. You do owe it. They can sue you for the difference and use that judgment to garnish your salary or attachment bank accounts.