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A friend took out finance in her name for me after paying for 1 year i could not meet payments the machine was taken back there is now a deficit of 9000 pounds who is liable?
Moulies2
Please don't try to wiggle out of your responsibity. She did this as a favor to you and now you want to stick her with the responsibility because the "paperwork" says so?? You have a moral and ethical obligation to take care of this...you gave your word. Man up!
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∙ 14y ago
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If your name is not on the lease agreement and you stop making the payments will anything happen to you?
Depends on what state you are in and what you do with the car AFTER you stop paying the notes. Do you have a grand plan to get a free car?? Either pay the notes or turn the car in. Be a real friend and dont screw over someone. If your friend purchased the car, he probably used you as a reference. Once the payments are no longer being made, the finance company will search through all of the referenced to see if they have the car. It is best to finance your own vehicle and turn this vehicle in. If you continue to pay on this vehicle and eventually pay off the loan, you will never see the title because your friend fled. What's the point on paying for something that you will never have clear title to.
Recovering From Bad Credit?
One of the best ways to recover from bad credit after filing bankruptcy is to get a car loan and make the payments on time. Perhaps it is possible to get an auto finance loan while in Bankruptcy but, there are a couple of issues to note. The interest rate for an auto loan while in Bankruptcy will not be good. Bankruptcy Trustee approval is needed if you do finance a vehicle while re-paying a Bankruptcy. An alternative to traditional auto financing is to borrow money from a family member or friend. This will allow you to get the money needed for your next vehicle without the worry of finance fees or interest rates. It is important to know that this is a business transaction and a signed agreement will protect all parties involved.
Assuming a loan payment from a friend what do you need to tell the lien holder bank do you need to qualify for their loan?
Yes. You need to go in with your friend and assume the loan so that it appears with your name on it rather than your friend. If you just take over payments without making it legal, then she can take the car when you are done paying it off and there would be no legal recourse.
Where do you get a mortgage loan after bankruptcy?
I just talked to a friend of mine today about this. She says that if you do not have any late payments sent your bankruptcy discharge your credit is good. She also said I'd be suprised to see how many lenders are willing to loan to me after the discharge of bankruptcy. This of course depends on wether or not your payments are current or if you have incurred any additional bills. Good Luck!
Can you get your out of cosign debt in three months if your friend makes all the payments?
No, the co-signer is equally responsible until the agreement is honored in full or the debt/loan is refinanced w/o the co-signer being a party to the action.
Can your friend take on your finance?
no but i can
How do you get a finance company to finance your customers?
some are asking for their friend to invest with their company with interest.
A person has a car and cannot afford it anymore and wants his friend to have car and take over the payments. However his friend lives in a different state. What state does the insurance have to bein?
Which ever state the driver lives in. But more important, the friend needs to have the car titled in his name. I sell cars, and have for 15 years. I can't tell you how many times I've seen people's credit ruined by trusting someone else to make their payments. Guess who is responsible for late payments or a repo? Not to mention the friend being in a car accident and someone gets hurt. Get your friend to get his own finance company and sell the vehicle outright.
How much of the payments prior to repossession is allowed to go toward interest?
Get a hold of a lawyer, because I was told by my friend going through this situation, that His lawyer told him that NO debt once it has gone to repossesion (once that car has been resold), or collection beyond the finance company is allowed to still accrue late payments or interest.
If your name is not on the lease agreement and you stop making the payments will anything happen to you?
Depends on what state you are in and what you do with the car AFTER you stop paying the notes. Do you have a grand plan to get a free car?? Either pay the notes or turn the car in. Be a real friend and dont screw over someone. If your friend purchased the car, he probably used you as a reference. Once the payments are no longer being made, the finance company will search through all of the referenced to see if they have the car. It is best to finance your own vehicle and turn this vehicle in. If you continue to pay on this vehicle and eventually pay off the loan, you will never see the title because your friend fled. What's the point on paying for something that you will never have clear title to.
How big is a MRI machine?
an MRI machine is as tall as your tallest friend and as fat as your fattest friend. none of the sites i went on had the actual dimensions.
If a you sign for a car for your friend and they don't make payments on it and its in your name can you sue your friend?
i am not sure and you need to call a lawyer
How should my friend start his essay on machine operator?
Your friend should start his essay on machine operator by saying what he is going to do when he is a machine operator.Or start it off by saying that he was looking for a job and he found one:being a machine operator.
Im storing a motorcylcle for an ex- friend that needs to be repossessed. Will the finance company pay for storage if i return it to them?
No the first thing you need to do is` answer one question- No your not ....maybe....holding it for her tell ....for what ever reason right?what year is the bike and make ,what is left on the payments? where are you to take a look at it??? let me now??
What source of finance did sainsbury's use to start their business?
Sorry friend i don't know
Can you repossess a car that is under your name from a friend who is always late on the payments?
Yes, it is your car.
You got a personal loan in your name and the money was to help a friend out the loan company wanted collateral friend put her car title up but defaulted I paid the loan in full and have her title?
Laws governing property differ from state to state. In general, however, you don't automatically own her car by paying off the loan. You would probably need to have made an agreement with the friend, verbally or better, in writing, at the time of the loan or at the point you began making the payments. If you didn't do that, you are probably out of luck. You can sue the friend for the amount of the payments you made or you can sue your friend for the car; I hope you have documentation of those payments, you will need something to show the payments you made.
