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Car Repossession?

Frisco, TX |

My car is being repossessed let my friend borrow the car and he left the area. The police would not report it stolen. I need to return the car to the bank and I have no idea where it is.

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Filed under: Property repossession
Attorney answers 1

Posted

I can't really offer any suggestions on how to get the car back or how to locate it. If and when it is retrieved and repossessed, however, you will still be on the hook to the bank for the full amount of the debt. If the lender sells the car after repossession and gets less than the full value of the debt, they will then demand you pay the difference and if you don't they will usually sue for the deficiency.

This answer is for informational purposes only and may not be relied upon as legal advice.