0
After a car has been repossessed and auctioned off what are the consumer's rights regarding payment of the negative balance owed after the vehicle is auctioned?
Wiki User
∙ 12y ago
Very simple really,you have the right to pay it. If you don't pay it, the lender will likely seek a judgment against you. If successful, they will proceed with any other legal remedies available to collect. Those include garnishemnt of your wages, lien against other property you own, etc. You can make an offer to settle, they can refuse or settle. Last but not least, you can do the bankruptcy deal. Try your best to avoid this. It will haunt you for 7-10 yrs. Good Luck
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
How consumers respond towards negative publicity?
How consumers respond towards negative publicity? Discuss it.
What are the laws of repossessed cars in Canada?
Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at natalsiapatterson34@gmail.com
If there is negative equity on your car when it is repossessed are you responsible for the difference?
It may vary by state, but in most palces you are responsible for the negative equity.
How will consumers react to the incentive of a higher price on a good or services?
The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality
How will consumers to the incentive of a higher price on a good service?
The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality
What is a negative effect of government regulation?
they cut into company profits, they stifle competition, they cause higher prices for consumers.
Regarding use of the media spin can best be defined as?
Spin is casting a positive light on negative facts.
What is the major problem with telemarketing?
Many consumers have a negative perception of it, particularly with outbound telemarketing, because of untimely and annoying calls.
What is consider a negative effect of governments regulation?
they cut into company profits, they stifle competition, they cause higher prices for consumers.
What is wholesome demand?
Wholesome demand is the demand for a product in which there are negative attributes of the product. Some examples would be alcohol and cigarettes, which are in demand among some consumers but also get negative feedback from others.
If you pay your entire balance after your car is repossessed and the car is returned to you why will the lender report negative on your credit report?
Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.
A rhetorical device used primarily to give a statement a positive or negative slant regarding the topic it is addressing?
Slanters
