If I have fallen 4 months behind on my car payment, can the dealership threaten to issue a warrant for grand theft auto and have me arrested?

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If I have fallen 4 months behind on my car payment, can the dealership threaten to issue a warrant for grand theft auto and have me arrested?

Asked on December 28, 2011 under Bankruptcy Law, Virginia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you are behind on your car payments concerning a loan that you took out for a vehicle, the lender can threaten a criminal action against you to gain an advantage in a possible civil dispute (breach of contract). However, that would amount to an improper act possibly warranting a civil action by you in turn.

Most likely the lender will try to repossess your vehicle under the loan agreement that you have. If that happens and the car is then sold at auction, you could be responsible to the lender for a deficiency judgment on the loan that you have. This would essentially be the difference between the amount remaining on the loan and what the car is sold for plus accrued interest, storage fees, towing fees and auction fees.

 


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