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How can a bank charge you for a full amount on car loan and they resold the car?

Samantha Barber

in Student Loans

1 answer

1 answer

Whitney Matthews on January 5, 2019

The rules in most places are the following: . A repossessed car will be resold . There will be retrieval fees, cleaning, repair, transfer of title and resale . Any overage between the price of sale, fees from the amount of the loan, etc. will be paid to the person financing the car. . If the car does not sell enough to cover all Loan fees and then they are responsible for the rest, We can and will make you pay for the entire amount of the loan and any other costs they can legally apply. If you are very lucky that only you can pursue to pay back the loan amount in place of sue for the additional fees that are outstanding.

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