If your car was repossessed, can the finance company make you pay the car off to get it back or just the past due notes and fees?
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If your car was repossessed, can the finance company make you pay the car off to get it back or just the past due notes and fees?
Asked on February 22, 2012 under Bankruptcy Law, Maryland
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your car has been repossessed, under the loan agreement, the lender is entitled to auction off the car and sue you for a deficiency judgment under the loan. The lender can ask that you simply pay off the loan or the past due amount for you to get it back should it desire but this does not typically happen.
I suggest that in your circumstances that you contact the lender and see what you can do to get possession of the car that was taken from you due to non-payment.
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