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The vehicle can be repossessed by the creditor. After the vehicle is repossessed the creditor can sell the vehicle to satisfy the lien and reduce the balance owed to a deficiency judgment. The deficiency judgment can be used to attach assets or wages
Although the dealership has gone bankrupt, the lien itself may have been sold to a third party who may institute the above actions.
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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE