0
This is called a voluntary repossession. What happens is the car will be auctioned in the condition that it is in and say you payoff is $12,000.00 and the auction for the car brings $9,000.00, there will be a judgment issued in the amount of $3,000.00. This will also stick with you on your credit.
What else can I help you with?
Is a private leinholder of a vehicle liable for the actions of the person who has possession of the vehicle?
No.
Can you sue someone if you park in their driveway and someone hits you?
No. The only person who is liable is the person who hit your vehicle.
Who has the right to a vehicle that is stiil being paid for?
The person paying has the right to the vehicle
A vehicle did damage to your fence on your property the insurance company is saying they are not liable because the person driving the vehicle was not supposed to be driving it?
When driving behind another vehicle at night,
If an unlicensed uninsured minor driving a car with the owners permission has a parking lot accident is the owner liable or the minors parent?
The insurance company is not liable for paying damages. The minor was knowingly breaking the law by driving w/o a license. The parent of the child will be held liable for damages. As will the person/owner of the vehicle if they knew the minor was not a legally licensed driver. If you let an un liscensed/uninsured minor driver your vehicle, your asking for it. If you werent the parent of the minor, they could sue you as well for neglect.
If a stolen vehicle hits your car is the owner's insurance company liable?
The thief of the car is responsible, not the owner of the car. How can the owner control his car being stolen? However, if the owner or person in charge of the vehicle left the keys in the ignition, liabilty may attach in some jurisdictions.
Can you hold a person liable if person is excluded on insurance an gets into wreck?
What do you mean hold them liable. If you gave them permission to drive your vehicle and you had excluded them on your policy, the insurance company will not pay any part of the claim. More than likely you, as owner of the vehicle will be the primary target. If the accident involves another car you will be primarily responsible for their damages and injuries as well as the damage to your vehicle. You can try to implicate the driver but it is your vehicle, your insurance and exclusion that you signed, and you gave this person permission to drive your vehicle, knowing what you do about them.
Who would be liable if you were driving a friend's vehicle and got into an accident and they did not have insurance?
The driver's insurance would then be considered "secondary," meaning if the owner of the auto didn't have insurance, then if the person driving the car had insurance, they would be liable.
If warning sign is posted and a person neglects the sign who is held liable?
The person liable is the person who ignored the warning.
If you are a cosigner on a vehicle and the other person gets the vehicle repossessed then files for bancruptcy what happens to the cosigner?
you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.
Who is liable for tree falling on neighbors car while cutting?
If the person cutting the tree dropped on on the car, its their fault. There is no reason for it to fall on a car, unless the person was in a hurry and did it or just didnt know what they were doing in the first place. So if the company cutting it did it they're paying...or if you did it, you're paying...easy as that
Who is not liable for paying tax in UK?
Income tax - everyone is liable but if you work less than about 300 hours a year, you will pay none as that, at minimum wage, is the single person's tax-free allowance. If you mean taxes in general, everyone pays something somewhere.
