If I’m currently dealing a deficiency balance from a repossession, do I refer to the laws from the state in which the contract originated or from the state in which I reside?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’m currently dealing a deficiency balance from a repossession, do I refer to the laws from the state in which the contract originated or from the state in which I reside?
Asked on October 26, 2012 under Bankruptcy Law, Tennessee
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Great question you have about whether to deal with the laws in the state in which you reside or the state in which the contract was signed. First, look to the contract that was the subject of the repossession. There usually should be a jurisdiction provision. If it mentions that the contract must be reviewed under a particular state's set of laws, then that set of laws applies. If the contract is absent on that language, you use the state in which you signed the contract.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.