Legal Question in Real Estate Law in North Carolina

repossession of vehicle

i am currently behind on my truck payments, my work has been real slow and i cant get caught up, can i voluntarily surrender myvehicle back to the bank without a lot of problem with my credit rating


Asked on 4/28/09, 1:14 pm

1 Answer from Attorneys
Robert Johnston Law Offices of Robert J. Johnston

Re: repossession of vehicle

Its doubtful that you have any sort of automatic right to do that. If you read the paperwork you signed when you got the loan there might be some language in there about these situations. One thing that you can do is call your bank. With the economy being what it is, there have been a lot of people that have had trouble making loan payments. Some of the banks have set up special programs to help people through these times. Its just a phone call and doesn't hurt to try.

Good luck.

Read more
Answered on 4/28/09, 1:24 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in North Carolina