Legal Question in Credit and Debt Law in Florida
a friend of mine wants to take over the payments of my truck. what legal protection if any should i get?
Asked on 5/25/12, 9:58 am
1 Answer from Attorneys
Lucreita Becude
Lucreita D. Becude, P.A.
Sell the truck to him, go to the lender explain that the new guy wants the truck, have the loan put in the friends name. They will work with you because they want the loan paid - the lender does not want the truck. Otherwise, you stand the risk of the truck being wrecked and a debt in your name to be paid. Your insurance will cancel on you and may not pay if the truck is wrecked and discovered that this person has had possession and not you. So..... do the right thing now and get your name off the truck.
Answered on 5/26/12, 6:27 am