If I had a vehicle repossed, can they garnish wages after vehicle is taken?

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If I had a vehicle repossed, can they garnish wages after vehicle is taken?

Asked on January 12, 2012 under Bankruptcy Law, Wisconsin

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Yes, if after repossession, you still owe a balance. When a car is repossessed, it will sold (e.g. at auction), and the proceeds of the auction, less the expenses of the repossession and sale, will be applied against what you owe. If that's not enough to pay off the full amount remaining on the loan, the lender may take legal action (e.g. sue) against you, to recover the remaining balance; if they do, one of the possibilities is that they may be able to garnish your wages.


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