Legal Question in Credit and Debt Law in Florida
Voluntary Surrender of Auto
I own a car. I am recently unemployed. I cannot make payments, am moving to another state, and cannot afford to transport car. Want to do voluntary
surrender. Knw it will effect credit.
Do I need to worry about seizing bank accts, etc?
Asked on 12/31/07, 6:21 pm
1 Answer from Attorneys
Stuart M. Address
Law Offices of Stuart M. Address, P.A.
Re: Voluntary Surrender of Auto
Yes, unless done with a lawyer who negotiates for you the voluntary surrender does not remove you from liability for any deficiency balance on your loan after the car is sold. You might also be liable for attorney fees, costs, etc. If you want to surrender your car, you should talk to a lawyer.
Answered on 1/02/08, 11:08 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
