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Returning the car to the lender will not relieve the borrower of the legal responsibility to pay the debt. The balance of the loan and any additional fees is still owed on the vehicle and is valid and collectible.

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18y ago

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What should you do if your car note is behind 3 months?

Make up the payments ... like right now. If one is unable to do so, then they need to contact the lender (should have done this 2 months ago) and explain the circumstances of why they are breaching a written contract (punishable by law). Sometimes things can be worked out - you may have to return the car to the lender, as they ARE the owner of that vehicle, not you!


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You need to contact your lender to see if they will work with you on getting caught up on your back payments. Some state laws allow the lender to require you to pay the vehicle off in full and some state laws require the lender to return the vehicle to you if you can catch up on the amount you are behind. You need to check your state law and contact your lender.


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After you pay off a vehicle when it was repossessed can a lender refuse to return it unless you pay off other unpaid debts that you have with the same lender?

I think that you need to pay what you owe. You should call them and see what their policy is. I wish you luck:)


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Lender's return refers to the profit or interest income that a lender earns from providing a loan to a borrower. It typically includes the interest rate charged on the loan, which compensates the lender for the risk of default and the opportunity cost of using that capital elsewhere. This return may also encompass fees associated with the loan, such as origination fees or prepayment penalties. Overall, lender's return is a key metric in assessing the profitability of lending activities.


After a vehicle is repossessed and you pay it off in full when does the lender have to return the vehicle to you is it as soon as its paid off or can they take a few days to return it?

If the vehicle is paid it is yours you should not have to wait any amount of time.


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Yes, you can deduct state tax payments on your federal tax return if you itemize your deductions.


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You can deduct mortgage interest and property tax on your taxes by itemizing your deductions on Schedule A of your tax return. You will need to have a mortgage interest statement from your lender and records of your property tax payments to claim these deductions.


If the lender says they will re-assign your account if you pay back payments and fees can they take your money and not return the truck in Texas?

NOT if you dont give it to them. The usual procedure on the 1st repo is pay all the back notes,fees,ect. and get the car/truck back.