Law & Legal Issues
Auto Loans and Financing

What should your daughter do if she entered into an agreement to purchase a vehicle and signed a promissory note including the details of the transaction and she was late on a couple of payments?


Top Answer
User Avatar
Wiki User
2005-11-20 14:36:55
2005-11-20 14:36:55

The only option she may have is to contact the lender and attempt to reaffirm the contract, which would include making up all missed payments and penalties in a specified time limit. Action concerning such an issue depends upon what the lender decides is in their best interest not the borrower's.


Related Questions

get her married to a US based man..................... Apply for a legal Visa and do it right , not marry like a business transaction.

They may not if there is a clause in the insurance agreement that the insurance will not be paid out in the event that an unlicensed driver is in control

It is possible for your daughter to assume responsibility for your car loan, but only with the agreement of the bank that issued the loan; you can discuss this with the bank.

That depends on your state laws and your separation agreement, if any.That depends on your state laws and your separation agreement, if any.That depends on your state laws and your separation agreement, if any.That depends on your state laws and your separation agreement, if any.

Your daughter would have no legal obligation to pay the lease, unless her name is on the lease and she was over eighteen when she signed it. Otherwise the lease you signed is not enforceable against your daughter.

If the daughter is no longer living with her mother, and is independent, then you could petition to end child support. If she is still in highschool, you might continue to pay with the agreement that the money transfers from mother to daughter.

“I am the sole signer on a rental agreement for my daughter and 3 of her friends. I need an addendum or letter for the other parents to sign holding them responsible for their share of the rent. Do you have any ideas?”

An arm's length transaction is a transaction that occurs between two unrelated parties, each of whom is acting in their own self interest and therefore trying to get the best deal for themselves, when a transaction is arm's length, the amount exchanged for it is considered to be fair market price.With that said, a NON arm's length transaction is one that occurs between related parties (when one entity has the ability to influence the decision making of another such as friends, family, sister corporations, etc). When a transaction takes place between related party it cannot be assumed that the transaction amount is the fair market value because both parties are not working in their own interest.For example, your mother may be being generous when selling you her car by giving you a large discount, or you might be doing her a favour and paying her more than it is worth.Arm's length is the legal description of an agreement made freely, for fair market consideration and when there is no special relationship between the parties. It can becomes an important consideration when other issues are present.For example, a sale of a property for fair consideration to a third party would be an arm's length transaction. A sale of the land for a minimal price from a father to his daughter would not. In some circumstances such as a transfer to avoid creditors the second transaction could be nullified by a court.

that depends on if the mother has custody over her daughter or not. It also depends on how old the daughter is. If she is under the legal age limit, then the mother is still responsible and makes all decisions for her. If the mother does not have full custody over the daughter, then the mother and the father of that child must come to an agreement on the living whereabouts of the daughter. If the mother has legal custody over the daughter and the daughter is not of legal age yet, then yes, the mother can bring the daughter over too.

There are a number of reasons your daughter won't clean her room including her lack of motivation. She may also be lazy or hiding something.

Yes. Demi Lovato is including her new song, "For The Love Of a Daughter" on her new album

To fill an emptiness inside her, and so her daughter could be baptized. She wanted her daughter to have a better life than she did, including God in her life.

No, a possessive noun functions in a sentence as an adjective describing a noun. The subject of a sentence that determines the verb is the noun that the possessive noun describes. Example: Jack's daughter is five. (the subject of the sentence is 'daughter') The Browns' daughter is five. (the possessive noun Browns' is plural, the subject of the sentence 'daughter' is singular, taking a verb for singular)

Probably not, but it depends on the laws in your area and what the support agreement actually says. Contact a lawyer to find out.

No. Only a court order can override an existing court order. A verbal agreement will be considered by the court in rendering its decision but the verbal agreement in and of itself does not override the original court order. There are some hurdles you have to overcome with a verbal agreement. How can you prove there was ever a verbal agreement in place. I had a verbal agreement with my ex regarding custody of our daughter. She the resided to back out of our agreement and denied ever agreeing to anything. Fortunately I had a call recording application that complied with Federal and Texas State Laws (it announces that its recording the conversation at the beginning of the conversation). Since I was able to prove that we had a verbal agreement, the court honored the verbal agreement. So, a verbal agreement may lead to a decision in your favor if you can prove that an actual "valid" verbal contract has been made

Actually, a few sources, including his very daughter, apparently say that he was schizophrenic. Yes

Yes. Of course. There have even been professional boxers, including Mohammad Ali's daughter.


Of course they do. Mitosis is asexual cell division in which the daughter cells are identical to mother cell in all aspects including DNA.

In the KJV it is 505 times including both singular and plural.

Yes she did. Her half sister Feodore had several children including three daughter

I would not think they would be able to. I believe it has to be someone that is non-biased to one side or the other.

Everybody's daughter (including mine) is the prettiest female in the world and so too is everybody's mother. .

Yes. She has five, including a pregnant seventeen year old daughter and an infant with down's syndrome.

Her welfare, including shelter, clothing, food and medical care.

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.