Tracy C. asked

⚖️  Law

My husband and I live in Florida and can no longer afford our car payment. We are considering a voluntary repossession and want to know the legal ramifications, including what actions the lender can take under Florida law to collect the money after the auction, especially if we cannot pay the balance owed within 30 days. We own a house and another vehicle but have limited funds. What actions can the lender legally take against us?

July 14th, 2023

Virginia B. answered

Under Florida law, if you voluntarily repossess your car, the lender can sell the vehicle and then p...

July 14th, 2023

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