Legal Question in Credit and Debt Law in Michigan
my wife and i were stationed overseas. she was 18 years old at the time with no history of credit and put in a request for a vehicle loan for 23,000$ the loan was accepted and she purchased the vehicle unknown to us the vehicle was a 2009 jeep wrangler in european specs. when the bank ran the vin everything checked out, obvioulsy the approved the loan. shje got orders back to the states due to pregnancy and was told the vehicle could not be shipped and therefor the vehicle got left in bahrain. for 2 years now we have continued to pay 500$ a month for a vehicle the we can no longer find because the person the vehicle with has since left the island as well. we obviously cant drive the vehicle, and the banks only response is essentially "not our problem"
2 Answers from Attorneys
You will need to pay off the loan, go bankrupt or find the car and sell it to recoup your losses. The bank will not forgive the debt.
The bank's response is unfortunate, but correct.
Perhaps, if you haven't already, you should contact the agency that she was stationed with overseas. They might be able to assist you in locating and selling the vehicle OR providing legal services to mitigate the loss.
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