NOT if you dont give it to them. The usual procedure on the 1st repo is pay all the back notes,fees,ect. and get the car/truck back.
My car was crashed and I lost my job. How do I return the finance car to the lender?
If the lender designates the account as a charge off, the account is still valid and will be referred to inside collections department or an outside collector for further action. If the lender cancels the debt, the debt is no longer valid and the debtor will receive a 1099-C showing the amount that the borrower must claim on his or her tax return as taxable income.
You need to contact your lender to see if they will work with you on getting caught up on your back payments. Some state laws allow the lender to require you to pay the vehicle off in full and some state laws require the lender to return the vehicle to you if you can catch up on the amount you are behind. You need to check your state law and contact your lender.
Returning the car to the lender will not relieve the borrower of the legal responsibility to pay the debt. The balance of the loan and any additional fees is still owed on the vehicle and is valid and collectible.
Can you get a tax return for daycare payments Not head of househols
average return on a checking account is about 0.1
Turbo Dogs - 2008 The Muffled Mess-Up Return to Lender was released on: USA: 1 December 2010
Make up the payments ... like right now. If one is unable to do so, then they need to contact the lender (should have done this 2 months ago) and explain the circumstances of why they are breaching a written contract (punishable by law). Sometimes things can be worked out - you may have to return the car to the lender, as they ARE the owner of that vehicle, not you!
[Debit] Sales Return account [Credit] Cash account
yes it is
Spousal support payments would not be deductible on your income tax return. Only Alimony payments would be deductible on your 1040 income tax return.
debit accounts payablecredit supplies return account