owed Lender Monies after Repo

[aaronsyde]

What is the name of your state (only U.S. law)? Massachusetts
i know the lender has the right to collect the remaining balance of the loan after the sale of my repo'd car, but with no assets, credit pretty much as low as it gets, and the car taken, what would happen if i just didn't pay the deficiency?

 

[racer72]

You will be sued and after a judgment is granted, wages can be garnished, property seized and bank accounts levied. The judgment will be in effect for 20 years and interest can be charged at 10% a year.