Legal Question in Consumer Law in Wisconsin

vehicle purchase

My husband purchased a vehicle from a dealership with a suspended liscense. It has been 60 days since the purchase and they said that if he did not give them a copy of a updated liscense that the bank was going to take the van back. We have not made any payments yet and we have had some other issues with there service, so my husband told them they could have it back. They told him to bring it back.When he got there someone else said that he couldn't bring it back and that their lawyers would contact him.What can we do?


Asked on 4/13/07, 8:23 pm

1 Answer from Attorneys
JAY Nixon nixon law offices

Avoiding Deficiency Debt on a Surrendered Vehicle

For most folks of modest means, a chapter 7 bankruptcy will resolve any remaining debt on a vehicle which is surrendered back to the lender, regardless of the circumstances. This assumes that one has not damaged the vehicle intentionally or engaged in any intentional fraud. If you attempt to surrender it and the lender refuses to accept it back, you might be entitled to continue to use it, provided that you keep it insured and make the payments. You should speak with an experienced bankruptcy attorney as soon as possible.

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Answered on 4/13/07, 8:35 pm


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