Legal Question in Consumer Law in Missouri

Re: Returning a vehicle

Contact the bank or finance company and tell them you want to make a voluntary return of the security for your loan, and you wish for them to handle disposing of the collateral.

Keep in mind this won't stop the payments on your loan. The bank will take the collateral, sell it, and then you will have a deficiency balance on the difference between what they got and what you owe. They will pursue you for the deficiency and will ask you to pay it. If you do not, they will most likely sue you and collect through garnishment.

A better approach may be to see a bankruptcy lawyer and find out if you can lower your payments through bankruptcy.