Are You Required by Law to Pay Repo Off in Full

[dartyke]

My question involves an auto loan or repossession in the State of: Georgia
my vehicle was repossessed and sold at an auction. I have been notified of the remaining balance, but if I had the balance I would of never gotten it taken in the first place, so with that being stated I want to know if I can make payments (small payments) to pay the balance off. I have another vehicle now and I have to pay for this car so I can't make enormous payments for a car that is already gone. Please help!!!

[cyjeff]

You are responsible for the debt. The car was collateral... when the car was sold, you are still responsible for the remainder of the debt.

It will be up to the lienholder if they wish to allow payments.

this is a civil matter... not a criminal one.

[Betty3]

You can call & ask if they "might" accept less than the balance due and/or a payment plan. However, as the other responder noted, they don't have to - you owe the full balance due at this time.