Repossession isn’t the end: how deficiency suits can create new debts

Hamill told listeners that most vehicle loan contracts include a repossession clause and that repossession plus sale can produce a deficiency balance. "Once they sell that vehicle, they then put that, the balance of the sale towards the debt...and then whatever's left over on that loan after that sale, that...is an unsecured debt that they can then sue you over," he said.