Search SEARCH

what will happen after I surrendering my vehicle? Could there be a deficiency?

I have a 2007 e550 mercedes benz and can no longer afford my vehicle and has decided to give up this month payment and just surrender to Chase Auto. I've been trying to sell in the market for 3 month now and still no one is interested. What will happen next? I know that they would auction off the car but am I responsible for the deficiency? if they do come after me, should I file for bankruptcy? thank you.

Asked By: M.g - 2/6/2009
Best Answer - Chosen by Asker
You will be responsible for any deficiency between what the car was sold for at auction and what you owe. If there is any possible way whatsoever, sell the car yourself and pay off the balance. If you haven't been able to sell it you're probably asking for too much. You should have no problem whatsoever selling it... More
Answered By: Howard L - 2/6/2009
Additional Answers (2)
what does your loan or lease say? you did READ and keep the papers, didn't you? *** yes -- you're responsible for the deficiency.
Source(s):
Answered By: Spock (rhp) - 2/6/2009
 
im not sure about that
Answered By: lakita h - 2/6/2009
 
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Jobs.Quick-com
Click. Search. Apply. Free!
www.JobDiagnosis.com
Jobs hiring near your local area. Part-time, Full-time, Work at home.
www.HiringLocally.com
Sobre 287 Trabajos en tu area. $15-87/hora - Aplica Ahora.
JobsToLatinos.com

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-313
eTrustLogo