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asked 9 months ago
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There may be a difference between an voluntary surrender of a vehicle and a repossession. I had a vehicle repossessed several years ago when I filed for bankruptcy and was billed for the difference between the amount owed on the loan and the sale price that the bank received from the auction of the vehicle. I think every state varies in how this is handled. I am in N.Y.
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I had a car reposessed in Pa. And I was never asked to pay the balance. I turned the car over to the bank and that was the last I heard of it. That was approx 18 years ago.
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