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What is a deficiency payment?

from wilda previl (wprevil@talkcity.com)
My bestfriend's car was repossesed recently. The car cost's about 6,000 dollars. He was behind and he knew the the consequences. What he wants to know is because the car was repossesed, does he have to continue with the payments, if any. I had a cousin that went through the same thing and she didn't have to pay a dime except for the repo's fee. Please email me with this urgent information a.s.a.p! Thankyou very much for you're time and cooperation.
(posted 8539 days ago)

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