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.
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Related Questions
What can you do if your mortgage payment is 2 months late?
call the mortgage holder and make payment arrangements
What to do if you mortgage holder sends your payment back and because they did it puts you in foreclosure?
get an attorney.
What is an on demand payment bond?
This is a type of credit enhancement that guarantees payment of an obligation and must be paid by the enhancer on the demand of the note or bond holder.
How do you Pay the deficiency but not interest?
CONTACT YOUR LIEN HOLDER AND MAKE THE PAYMENT ARANGMENTS / CONDITIONS AND TERMS. DEPENDING THE LIEN HOLDER YOU MAY BE SUPRISED ON HOW EASY THEY CAN BE TO WORK WITH.
In Ohio can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
No, it does not make the non account holder legally obligated to continue payment nor assume the debt.
What is a Primary Account Holder?
Primary account holder is the person on whose name the bank account is created in the first place. Ex: Assuming you have a bank account and then once you get married you would include your spouse as a joint account holder. you will be the primary account holder and your spouse would be the secondary holder.
How do you copy a picture that is copyrighted?
Unless it would qualify as "fair use" you will need to ask permission of the copyright holder.
What is requirement for South Africa visit visa?
You have to be a valid passport holder for you to qualify for a South Africa visit visa.
What is the procedure to legally take a car due to non payment as the lien holder?
The answer varies by state.
1963 quarter proof?
Assuming it's in its original holder, as of 06/2008 retail is about $3.75
What do you do when a lien holder refuses payment and you now live in another state?
What do you do if you over payed on a law suit
What are the power of check holder?
You can issue a cheque for payment, cancel a cheque, get the cheque deposited through the bank.
What happens when a card holder makes a late payment?
It depends on the circumstances. Often, card companies will forgive a 'one-off' late payment. Subsequent lapses will result in a late payment fee - usually an expensive 'mistake' !
What is the difference between stock appreciation rights and phantom stock?
A holder of SAR's is not entitled to dividends/distributions, whereas...a holder of phantom stock will be entielted to an equivalent dividend/distribution payment.
How can you legally repo a vehicle you sold to a friend who has not made a payment but you signed the title over so they could get tags?
You really cant sinced you signed the title...Its now there car you can take them to court and try to fight it. Next time you need to fill out the lien holder section on the back of the title listing you as the lien holder and then you have the legal right to repo.
What is standing order in banking?
Regular payment made out of a current account which is of a set amount and is originated by the account holder
How do you sell a car before its paid ff to the bank?
You can't. The lien holder is the owner. The buyer would have to qualify to take over the loan.
How can a lien holder refuse to return property back to buyer?
Generally, if there is a debt involved the lien holder can hold the property until the debt is resolved. It is a security interest over property to guarantee payment.
What does Etui mean in German?
Etui is a small needle holder- my friend Sophia is from Germany.
When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
What is standing order regarding banking?
Regular payment made out of a current account which is of a set amount and is originated by the account holder
Why people prefer only DA Payment terms?
Isn't it the bank is fully aware of the order is under certain # days of D/A so you will have the first priority to collect the payment before the account holder. This is how the payment term document against acceptance stands.
What should be do if a stop-payment instruction is received on telephone?
Stop-payment instructions are binding for 14 days. If its on telephone, the account holder must be asked to confirm his identity first and then it should be accepted.
Can a lien holder repo a vehicle for no reason?
Not normally ... there must be some reason for this action on the part of the lien holder. If just one payment is missed, or just one day late, the lien holder could claim 'breach of contract' and demand return of the vehicle. I would be asking a high ranking official of this lien holder this very question ...
Who may Repossess on another persons property?
Whomever the lien holder has hired for that purpose. Providing you have defaulted on the payment terms of your contract.
