Saturday, 28 February 2015

What happens if a car is given back to a creditor volunteerly by the client? Does a judgement go on that client? Does this happen if there i...

Question

What happens if a car is given back to a creditor volunteerly by the client? Does a judgement go on that client? Does this happen if there is only one car in the clients name? I need help! Thank you!



Answer

The person is generally liable for the deficiency. A voluntary repossession has the same effect as an involuntary repossession.

Thanks

Greg

www.dallas-forworth-bankruptcy.com



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