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Parents facing dilemma

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robert ashlund

We are from North Carolina and my parents went to a new car dealership and purchased a used car.The car wasn't in good mechanical condition so they returned and traded up for a newer used car,paying more for it than a comparable new car same make, model.Now after having the car a few months they realise they cannot really afford it.They are both in their 70's with their only income being social security and naval retirement.My question is if they voluntarily turn the car in for repossessment does the deficiency judgement apply ?
I believe I read somewhere that retirement or pensions were exempt but I very well may be wrong.Thank you very much if you take the time to reply

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