pkisle said:
I live in California
I could not afford ny car payment so I turned the car over to the bank. After they sold it they told me that i still owe $4197.38 I am not able to pay this back. What can the Bank do to me.
Kevin
My response:
Lethal Injection.
No, no, no. They will attempt to take your first-born male child, though.
They can, and will, take you to court on the "Repossession" Deficiency, and obtain a judgment for the auction procedures, court costs, attorney's fees, interest, etc., etc.
By the time you get a judgment against you, which is good for up to 20 years in California, at 10% interest, they will also obtain a Writ of Execution against any bank accounts and non-exempt property you might have, and they will obtain a garnishment of your wages.
By the time all is said and done, expect to wind up paying at least double the amount you've mentioned here.
I won't even get into the "Debtor's Hearing" procedures, and the humiliation in open court that will cause.
Good luck to you.
IAAL
