ksguitarman
Junior Member
What is the name of your state (only U.S. law)? Kansas
I've searched the forums, but haven't found a post specific to my state. My question is this: If I voluntarily let my lender (Mitsubishi Motor Credit,) repossess my car, will I be liable for the defficiency judgement? The finance contract is very grey, stating that they have rights of recovery, barring any state laws that prohibit it. I have yet to be able to verify the actual Kansas state laws.
I'd try to sell the car outright, but I am upside down on it by 5-7k, and could not secure a signature loan for the difference. (Already tried.)
Any input is welcomed.
Thanks.
I've searched the forums, but haven't found a post specific to my state. My question is this: If I voluntarily let my lender (Mitsubishi Motor Credit,) repossess my car, will I be liable for the defficiency judgement? The finance contract is very grey, stating that they have rights of recovery, barring any state laws that prohibit it. I have yet to be able to verify the actual Kansas state laws.
I'd try to sell the car outright, but I am upside down on it by 5-7k, and could not secure a signature loan for the difference. (Already tried.)
Any input is welcomed.
Thanks.