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Is it fraud if someone continues to make car payments when the borrower is deceased and the loan company is not aware of his death?

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2015-07-16 18:11:58
2015-07-16 18:11:58

Prolly is BUT it depends on the lenders attitude as to what will happen. Best thing to do is contact the lender about getting the loan in your name. lot of variables here.

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Of course. That's what co-signers are agreeing to when they co-sign.

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Ususually in BK a house is either voluntarily surrendered, because it is not possible for the borrower(s) to keep up payments.. Or the buyer reaffirms the loan with the lender and works out a plan to repay missed payments. If your mortgage payments are current, I see no reason why the lender would seek foreclosure.

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It depends on the policies of that company. The terms and conditions on which the borrower agreed when taking loan.

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In most cases the co-signer is in fact the borrower. I would think as long as you make the payments on time the lender will be o.k. with it, they usually want the money not the collateral back. I would read the finance contract(yes all the small print) there should be something stipulating the conditions for "due on demand". Hope thishelps.

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The person/company that sold the car wants their money. They don't care who pays it, as long as it gets paid. Condolences for the loss of your husband, but you get to keep the car as long as you keep making payments.


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