""I bought a truck in my name,""Then its YOUR truck, so go get it.
I wouldn't want anyone driving MY truck in MY name. I am LIABLE for anything that happens.
Smart is relative...LOL That choice did keep you from walking. It would be a wise choice to SELL the truck instead of letting it go back. You might have to borrow 1-5K to complete the payoff, but, you wouldn't have a repo on your CR, and the bank hounding you for payment of the balance due. Think about it...
When you've missed a payment or two or three - they can usually do it legally after one missed payment, but they don't want your silly truck, they want their money. So they hire a repo man to get the truck back and sell it at auction as fast as possible to get SOME cash back...
On any contract purchase, you have 3 days to back out and get your money back.
Yes, that would be common sense.
Highly doubtful
In most cases yes
A back payment is an overdue payment from a debtor to a creditor on money owed.
Depends on who it is, I suppose.
Payment for war damages or damages caused by imprisonment.To pay someone back for a wrongdoing.To make amends.
Can't get your money back
I wouldn't think that you would be but I don't know what the law is. Do you have anything in writing?
Someone defaults on a loan when they fail to pay it back (or pay back a regular instalment). Normally this would either be because they can't afford the payment, or they forgot to make the payment.