Car Repossession And Auction
Summary
In Florida, if a car is repossessed, the lender can auction it to recover the remaining loan balance. Your son should continue making payments to avoid a deficiency judgment. He may have the right to redeem the car by paying off the entire loan amount before the auction. If unable to pay, consider negotiating with the lender for a settlement or payment plan. If the car is auctioned for less than the loan amount, he might still owe the difference. Communicate with the lender and track any auction notices.Full Conversation
He is unable to pay the loan off
If your son is unable to pay off the loan, he might consider negotiating with the lender for a settlement or payment plan. Also, check if he qualifies for any legal aid services. Would you like to connect with local lawyers who can assist with his case?
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If your son can't pay off the loan, he should still communicate with the lender to explore possible options like a settlement or revised payment plan. Additionally, keep track of any notices regarding the auction. If the car is auctioned for less than the loan amount, he might still owe the difference. Let me know if you need more information!