Section 6260 – Sale of motor vehicle after repossession
§ 6260. Sale of motor vehicle after repossession. (a) Forfeiture.–If the repossessed motor vehicle subject to an installment sale contract is not redeemed by the buyer either by termination or reinstatement of the contract within the 15-day notice of redemption period, the buyer shall forfeit all claim to the motor vehicle and collateral security. (b) […]
Section 6261 – Deficiency judgment
§ 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 […]