What will happen if I cannot pay the deficency balance after a car repossession?
Question Details:
The creditor or lender would have the option of suing you for the balance. If they win, they could try to attach some of your assets (take part of your bank account or put a lien on other assets) or garnish (take) part of your income--though they would need an actual court order to do this (i.e. they can't simply do it on their own).
