Legal Question in Credit and Debt Law in Massachusetts

Voluntary Auto Repossesion

I am having trouble making my auto loan payments and am thinking about turning the car in but do not know the ramifications and orocess,


Asked on 7/19/09, 6:03 am

1 Answer from Attorneys
JOHN TATOIAN LAW OFFICE OF JOHN A. TATOIAN ESQ.*Licensed Only in Massachusetts

Re: Voluntary Auto Repossesion

A debtor on an auto loan always has the ability to negotiate the loan balance with the creditor, including voluntarily transferring the vehicle to the creditor in full satisfaction of the loan. There may, however, be a deficiency balance which the creditor may or may not discharge.;))))))))

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Answered on 7/21/09, 3:09 pm


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