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I still owe some money to a certain creditor, but I don’t have that
car (or furniture, appliance, etc.) any more. What happens now?

This can get complicated, but assuming that the property was lost, stolen or destroyed, and that whatever happened was beyond your control, that debt changes from a secured debt to a general unsecured debt. (See FAQ on the Difference between Secured and Unsecured Debt.) If you sold it or pawned it without the creditor’s permission, you could be forced to pay them back as if you still had it.