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If someone lets a vehicle go back..?
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If someone lets a vehicle go back..?

to the bank in VA, what all can they do about it?? To a resident in WV...
Can they take their driver's licence?


    




Uncle Jed
No they cant take your drivers license but this is what they can do......


Yes you are still responsible for the loan. They will dispose of the car and send you a bill for the balance plus repo and auction fees.

They will send you a demand letter fo the loan and you will have 30 or 60 days (time varies) to pay in full.

If you don't they will sue and win.

Then they will garnish wages or attach assets until paid for.

Giving the car back doesn't relieve you of the debt .....................md


chris
if u let it go back they will take the car to the auction say you owe $20000 on the car and they sell it for $12000 u still owe them $8000 plus other charges they put on it


mbrcatz
Rating
Eventually.

More likely, what happens is they sell the vehicle at auction. They subtract the repo fees, from what the car sells for, and apply the rest to the loan. Then, they come after the car owner for that loan balance.

Eventually, they garnish their wages, plus interest & fees, until they are paid.





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