Car Re-Possessed...Liable for Full Amount?
Sabrina's future son-in-law had his car repossessed and will be responsible for the deficit balance after selling it.
ANSWER: The deficit balance is the car’s sale price deducted from the loan amount. That difference is all the bank can ask him for. You should probably be asking some other questions in this situation. What were the circumstances of his car being re-possessed. The re-possession is the symptom of a bigger problem. Don’t ignore that.