repossessed vehicle balance due

03-02-2005, 11:46 PM

opuncsun

Junior Member

Join Date: Mar 2005

Location: Utah

Posts: 1

repossessed vehicle balance due

What is the name of your state? Utah

Had a vehicle reposessed in 2002. Lender sold vehicle for a loss and is holding us responsible for the difference between what we owed and what they sold vehicle for. Do we have any option other than paying the difference?

I lost my job in post 9/11 events and couldn't continue payments. It took 2 years to get permanent fulltime work and we are just getting back on our feet. The amount we own on the vehicle is over $10,000.

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