Call the bank. Explain the situation.
Try to get the loan transferred into his name.
If he doesn't co-opperate, call the cops and report it as stolen.
No. I recently took a car loan for my son because his credit is bad. The loan is in my name, the title is in his name only. He is listed on the loan as the 'holder of colateral'.
A parent cannot transfer a Parent PLUS loan into their student's name. The loan is the responsibility of the parent who took it out, and the student cannot take over the loan.
My sympathies to you and your family. If you, your husband or anyone else in the family didn't cosign for a loan for the car then the debt ends. If there was a cosigner then the cosigner is responsible for the debt. If your son was not a minor and took the loan out himself and he has left a Will or has anything of value this debt will be paid off or written off.
Your wife and anyone who signed as comaker on that loan.
The question doesn't make sense. If your family member gave you a loan, what "banking institution" was involved? Why did the person you took a loan out from have to pay off anything?If you took out a loan, yes you're responsible for paying it back.
No.
No. I recently took a car loan for my son because his credit is bad. The loan is in my name, the title is in his name only. He is listed on the loan as the 'holder of colateral'.
A parent cannot transfer a Parent PLUS loan into their student's name. The loan is the responsibility of the parent who took it out, and the student cannot take over the loan.
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
You need to report identity theft.
I took a loan from my bank to buy my first car.
It is insurance fraud if anyone but your husband signed the application.
Yes. It's known as piggy back riding.
Was a man that married her and had to children with her and was a very good man that took care of her but I will not tell you his name
'Fidelio' is the name Leonore took in her successful attempt to rescue her husband in Beethoven's opera 'Fidelio'.
My sympathies to you and your family. If you, your husband or anyone else in the family didn't cosign for a loan for the car then the debt ends. If there was a cosigner then the cosigner is responsible for the debt. If your son was not a minor and took the loan out himself and he has left a Will or has anything of value this debt will be paid off or written off.
Your wife and anyone who signed as comaker on that loan.