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  1. #1
    Join Date
    May 2008
    Posts
    1

    Default What Can Creditors Legally Do After Repossession In Texas

    My question involves an auto loan or repossession in the State of: Texas........After the vehicle has sold at auction, what are the legals means of the creditor to collect the difference?

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: What Can Creditors Legally Do After Repossession In Texas

    Your creditors can take you to court to pursue a deficiency judgment.

    Once they get it, they can look to having your wages garnished and your bank account levied.

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: What Can Creditors Legally Do After Repossession In Texas

    Texas does not permit wage garnishment, save in narrow circumstances (e.g., child support).

  4. #4
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: What Can Creditors Legally Do After Repossession In Texas

    I sit corrected. I think I was looking at the wrong tab!

    Thanks, Aaron!

  5. #5
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: What Can Creditors Legally Do After Repossession In Texas

    If they do get a judgment against you, they can seize non-exempt assets that your state allows. (but they can't garnish wages for this type of debt)

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