If I return a car back to a dealership because it cost more to repair it than what the car is worth, will it show as a negative on my credit report. The car was/is in Houston, Tx.
State/Country relating to Question: Texas
Thanks for your question.Yes lender here will turn this to collections and sue for deficiency.They will seek judgment here for shortage including lawyer fees and costs.The judgment here will then be collectible by the lender.They may levy bank accounts and other collection matters.
29 years in civil, probate, real estate, elder law
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