Friends, does this sound like you? You’re a Virginia resident, your car got repossessed by the bank, they sold it for less than you owed, and now Bank is suing you for the deficiency? Most people assume that the situation is hopeless.
NO! Virginia lenders who repossess and re-sell collateral (meaning: your car, but could be your boat, your trailer, your RV, your motorcycle, your airplane, etc.) must do it exactly according to law. Our state has some precise rules about how lenders are to proceed with repo and re-sale. Virginia law gives debtors (borrowers) some substantial and very welcome protections following a lender’s misstep. However, those protections are not automatic, and putting on a courtroom defense is, for most folks, not a do-it-yourself maneuver.
We know some things about using Virginia law against Lender banks who mis-stepped!
If you’d like to explore your situation with us to see if your lender has made a mistake that might be used to protect you, give us a call!
Virginia Beach Law Group is a full service law firm serving clients in Virginia Beach, Norfolk, Chesapeake, Portsmouth, Hampton, Suffolk, Newport News, Poquoson, Yorktown, and surrounding areas. Our blog will serve as an area of guidance and include some conversations on hot topics!
Disclaimer: Information provided on this website is provided for informational purposes only, and it is not intended as legal advice.
Responsible Attorney: David C. Johnson, Esq. | ©2023 DC Johnson, PLLC. All Rights Reserved.