surrendering my vechicle back to the bank
Date: Sat, 05/30/2009 - 13:35
If I surrendered my vechicle back to the bank, does the repo laws apply? I am current on my account. I am having a tough time coming up with the money each month. Any help would be appreciated. Thanks.
Not really, because you're giving them the car versus them comin
Not really, because you're giving them the car versus them coming and taking it by force.
Generally they'll make you sign a 21-day waiver so that they don't have to wait 21 days (redemption period) to sell the car. The proceeds from sale of the chattel will be credited against your open balance, and you'll still be responsible for any deficiency balance.
