Tow truck drivers say LOTS of things, but this does not "sound" right to me.
I can't say FOR SURE (it's been awhile since I practiced in NYC), but tow companies usually only have recourse to the vehicle (i.e., they can sell the car, but that's the limit of their income).
HOWEVER, I stongly encourage you to meet with a local, competent attorney before you walk away from the vehicle. I would hate to find out some obscure rule allows them to come after the registered owner for a shortfall.
If you need further clarity, please email me at MICHAEL@MIRELAND.US Answers to questions are for general information purposes only and do not establish an attorney-client relationship. This is not legal advice, simply information. You SHOULD NOT act on this information without consulting a competent bankruptcy attorney in your area and providing ALL relevant information.
I've never heard that before. I doubt it's true.
I am a former federal and State prosecutor and now handle criminal defense and personal injury/civil rights cases. Feel free to check out my web site and contact me at (212) 577-9797 or via email at Eric@RothsteinLawNY.com. I was named to the Super Lawyers list as one of the top attorneys in New York for 2012. No more than 5 percent of the lawyers in the state are selected by Super Lawyers. The above answer is for informational purposes only and not meant as legal advice.
There are a number of things that can result in the termination of your drivers license but I think the only remedy the towing company has is to auction off the vehicle. However, these laws change all the time and you should be very careful.
Disclaimer: This answer does not constitute legal advice. I am admitted in the States of New York, New Jersey and Massachusetts only and make no attempt to opine on matters of law that are not relevant to those three States. This advice is based on general principles of law that may or may not relate to your specific situation. Facts and laws change and these possible changes will affect the advice provided here. Consult an attorney in your locale before you act on any of this advice. You should not rely on this advice alone and nothing in these communications creates an attorney client relationship.