My vehicle was repossesed almost a year ago now. After them selling the vehicle in the auction, I have a balance of $3228.20. Am I obligated for this balance? Some lawyer agency keeps calling and threatening suit. What can I do to get out of this, if possible?

I want to volentarily turn my vehicle into the bank. From what I understand, the car will be auctioned off and the bank will send me the bill for the balance. So, say I owe 16k on it and the bank sells it for 10k, then I get a bill for 6k? Right? How relentless are banks in pursuing the balance? I know they probably reserve the right to pursue legal action to get the bill paid, but do they often do this? How likely is the bank to eventually stop collections and just write the balance off as a loss? I dont want the car anymore, I cant afford the monthly payment anymore and I am so upside down it, I cant privately sell it and hope to ever get close to what I owe on it. I know this will ruin my credit, but my credit is already trashed, I don’t really care at this point.

I want to volentarily turn my vehicle into the bank. From what I understand, the car will be auctioned off and the bank will send me the bill for the balance. So, say I owe 16k on it and the bank sells it for 10k, then I get a bill for 6k? Right? How relentless are banks in pursuing the balance? I know they probably reserve the right to pursue legal action to get the bill paid, but do they often do this? How likely is the bank to eventually stop collections and just write the balance off as a loss? I dont want the car anymore, I cant afford the monthly payment anymore and I am so upside down it, I cant privately sell it and hope to ever get close to what I owe on it. I know this will ruin my credit, but my credit is already trashed, I don’t really care at this point.

I have a job and I could probably save up around a thousand dollars for a down payment. The loan is to purchase a vehicle through a government auction and resell it for more money. Is this idea a stupid one?
Eric h, all the vehicles have been wked on and most of them are 2000+. I wouldn’t buy anything older. But to my knowledge from what I’ve read, all the vehicles are in good running condition.
as in the year 2000 sorry about that

I owe capital one money on a repossessed vehicle ( i owe the balance remaining After it was sold at auction) they have a court judgment against me. i was sent paperwork asking for all my bank account info and any vehicles i currently own. I own a vehicle free and clear that i paid cash for. Can they take that vehicle from me?