What can they do to collect if not paid for a voluntary repossession? 9 Answers as of April 23, 2014

I was laid off from work. They said I would be responsible for the difference from what’s owed and what it sells for.

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
That is correct. You can file a chapter 7 bankruptcy so that you don't have to pay that money.
Answer Applies to: New York
Replied: 4/23/2014
HARVEY S. MORRISON, ATTONEY AT LAW
HARVEY S. MORRISON, ATTONEY AT LAW | HARVEY S. MORRISON
They can sue you for any deficiency, obtain a judgment and then enforce the judgment by garnishment, attachment or other remedies. If you aren't working, they can't garnishee you, and unemployment compensation is exempt from attachment, if not co-mingled with other money.
Answer Applies to: Ohio
Replied: 4/21/2014
Cameron Totten | Cameron Totten
If it was a car, they can sue you and obtain a judgment for the difference. The judgment can then be used to garnish wages, attach bank accounts, etc. However, the debt can be discharged in bankruptcy.
Answer Applies to: California
Replied: 4/21/2014
Patrick W. Currin, Attorney at Law | Patrick Currin
What they are telling you is correct.
Answer Applies to: California
Replied: 4/21/2014
Law Office of Stuart M. Nachbar, P.C.
Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
File for bankruptcy and avoid deficiency.
Answer Applies to: New Jersey
Replied: 4/21/2014
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