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Car Repossessed Loan Balance Left Do I Have To Pay It?

We had a car repossessed when they resold it there was a balance left. Under Ohio law do I have to pay this balance back? I was told if we do not pay anything then after 6 years they can not collect it

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    It depends on the law there. I do not know Ohio Law but when my ex husbands car was repossessed, they made sure to pick it up in Idaho and not Washington because ID law says you still owe the balance left after they sell the car. WA law does not do that.
    If Ohio law says you are liable then the company will probably sell the balance due to a debt collection agency. I do not know how long they can continue to pursue a debt in OH. I had heard most states were 7-10 years. But Ohio may be only 6.
    Good luck.
    1 0

    Celticgirl 

    answered 1 year ago

      I don't know about your state, but generally, if your car is repossessed, then it's out of your hands unless you want to buy the car back. So since they decided to resell it, the loss shouldn't be on your hands.
      1 0

      Lchills 

      answered 1 year ago

        I live in washington dc my car  was reposes and now they sent it to collections and they are taking me to court to get me to pay can they do that.
        0 0
        Guest

        Guest 

        answered 8 months ago

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