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If you can't pay for your vehicle can you voluntarily turn in your vehicle?
Wiki User
∙ 15y ago
Im pretty sure even if you did voluntarily hand it back you'd still have to pay the remaining balance. They won't just tanke back a car and call it good.
Wiki User
∙ 15y ago
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If you voluntarily turn in your automobile what happens to you in reference to the balance owed on the vehicle?
You are still legally obligated to pay the balance of the car note regardless.
If you cannot pay loan on RV should you voluntarily turn the RV in to the lien holderor let the RV be repossessed?
It would look better on your record (For future loans) if you turned in the RV voluntarily.
If a vehicle was voluntarily surrendered and sold can collection on the difference be stopped with bankruptcy?
With new bankruptcy laws that is no longer possible. If the person files for bankruptcy and includes the vehicle they will have to pay the entire amount of the loan.
Can the owner of a vehicle force someone to pay for damages caused in an accident while driving their car with the owners permission?
Yes, you can file a lawsuit in the proper court and recover your damages if the person is unwilling to pay voluntarily.
In Pennsylvania if you lease a car and voluntarily repo it can they attempt to make you pay balances?
Yes, voluntarily relinquishing a vehicle does not relieve the borrower from the original contract obligations. The lender/leaser can sue the borrower for the amount still owed on the contract and any applicable fees.
If you are the co-signer of a vehicle that was voluntarily repossessed how can you get your good rating back?
PAY THE LOAN OFF. the loan NOT being paid was what damaged your credit so start rebuilding by paying it.
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Do you still have to pay for a car if you do a voluntary repossession in the state of Virginia?
Yes.. anywhere. When a vehicle gets repossessed (voluntarily or involuntarily) and it isn't reclaimed, the vehicle gets auctioned... the person who took the loan on the vehicle is still responsible for the difference between what was received for the vehicle at auction and what is owed on the balance of the vehicle (plus repossession, storage, and auction fees).
How do you obtain a vehicle title in your name if the owner of the vehicle has lost the title?
The owner of the vehicle needs to call the DMV and pay for and order a new copy of the title to turn over to you.
Do you need to renew the registration if you are planning to voluntarily surrender the vehicle?
I would surrender the car before the registration is due. Once you surrender the car, the car will go to auction and sold for the highest bid. You will then need to either pay the deficit to the finance company or file for bankruptcy protection to elimiate the debt. NOT if you turn it in B4 its due.
What might happen if you voluntarily relinquish your car to the lender and cannot afford to pay the difference in the loan balance after the vehicle is sold?
The lender would have the option of filing suit to recover monies that are still owed.
I have a 440 dollar red-light ticket due in California today but you cant pay it what are the consequences?
TRAFFIC WARRANT.... THEY WILL GET YOU AND YOU WON'T BE ABLE TO REGISTER YOUR VEHICLE.
