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Jack R.
Jack R., Attorney
Category: Legal
Satisfied Customers: 6147
Experience:  OH/TX Practicing Attorney focusing on Family Law, Foreclosure, Landlord-Tenant Issues.
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I have an auto loan and owe $18k more on the vehicle than its

Customer Question

I have an auto loan and owe $18k more on the vehicle than its worth. I can no longer afford the payment and am considering a voluntary turn in. The loan is in my name only. Can the creditor obtain a deficiency judgement in FL for an auto loan and if so, can they take joint possessions or possessions in my wife's name only?
Submitted: 6 years ago.
Category: Legal
Expert:  Jack R. replied 6 years ago.

A creditor can get a deficiency judgment for the difference in sale of your car and loan balance. With a judgment they can go after joint assets or your sole assets.


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