§ 6261. Deficiency judgment
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 12 Pa.C.S.A. Commerce and TradeEffective: December 1, 2014
Effective: December 1, 2014
12 Pa.C.S.A. § 6261
§ 6261. Deficiency judgment
(a) General rule.--If the proceeds of a resale under section 6260 (relating to sale of motor vehicle after repossession) are not sufficient to defray the expenses regarding the repossessed motor vehicle, including the costs under section 6256 (relating to buyer's liability for costs), the net balance due on the installment sale contract and the amount of accrued late charges authorized by this chapter, the installment seller or holder may recover the deficiency from the buyer or from any person who has succeeded to the obligations of the buyer.
Credits
2013, Nov. 27, P.L. 1081, No. 98, § 4, effective in one year [Dec. 1, 2014].
12 Pa.C.S.A. § 6261, PA ST 12 Pa.C.S.A. § 6261
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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