IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE TO BEING BEHIND
IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY LEVERAGE WITH THE
LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR JUST RETURN IT
AND TAKE THE HIT?
THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN RETURNED AND THE DEBT
BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER.
Robert Stumpf
08-12-2003, 01:10 PM
You could try to negotiate with the lender, if you are a few payments behind
they will likely listen to what you have to say...their business is
collecting interest, not owning cars. It doesn't hurt to ask. How much
"leverage" you have, if any, depends on a lot of things. Have you tried
finding someone to take over the payments?
It's hard to give you very specific advice, of course, without knowing more
specific facts...
--
*****
Rob Stumpf, Esq.
Stumpf and Ginter, Attorneys at Law
Practicing Bankruptcy in NY and NJ
visit us at www.online-law-firm.com
or email rob@online-law-firm.com
Disclaimer: No email or newsgroup communication is to be construed to
establish any sort of an attorney-client relationship, is not legal advice,
and is not a replacement for the advice of a competent attorney in your
jurisdiction.
"Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in message
news:PT9_a.186660$xg5.156544@twister.austin.rr.com ... IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE TO BEING
BEHIND IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY LEVERAGE WITH
THE LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR JUST RETURN IT AND TAKE THE HIT? THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN RETURNED AND THE DEBT BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER.
Harold Fontemier
08-12-2003, 10:35 PM
Wouldn't I still be liable if someone took over the payments?
"Robert Stumpf" <rob@online-law-firm.com> wrote in message
news:bhbhlt$vp1qu$1@ID-200874.news.uni-berlin.de... You could try to negotiate with the lender, if you are a few payments
behind they will likely listen to what you have to say...their business is collecting interest, not owning cars. It doesn't hurt to ask. How much "leverage" you have, if any, depends on a lot of things. Have you tried finding someone to take over the payments? It's hard to give you very specific advice, of course, without knowing
more specific facts... -- ***** Rob Stumpf, Esq. Stumpf and Ginter, Attorneys at Law Practicing Bankruptcy in NY and NJ visit us at www.online-law-firm.com or email rob@online-law-firm.com Disclaimer: No email or newsgroup communication is to be construed to establish any sort of an attorney-client relationship, is not legal
advice, and is not a replacement for the advice of a competent attorney in your jurisdiction. "Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in message news:PT9_a.186660$xg5.156544@twister.austin.rr.com ... IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE TO BEING BEHIND IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY LEVERAGE WITH THE LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR JUST RETURN
IT AND TAKE THE HIT? THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN RETURNED AND THE
DEBT BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER.
Brett Weiss
08-13-2003, 05:52 AM
Yes.
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************
The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************
"Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in
message news:G6k_a.187804$xg5.147669@twister.austin.rr.com ... Wouldn't I still be liable if someone took over the payments? "Robert Stumpf" <rob@online-law-firm.com> wrote in message news:bhbhlt$vp1qu$1@ID-200874.news.uni-berlin.de... You could try to negotiate with the lender, if you are a few
payments behind they will likely listen to what you have to say...their
business is collecting interest, not owning cars. It doesn't hurt to
ask. How much "leverage" you have, if any, depends on a lot of things.
Have you tried finding someone to take over the payments? It's hard to give you very specific advice, of course,
without knowing more specific facts... -- ***** Rob Stumpf, Esq. Stumpf and Ginter, Attorneys at Law Practicing Bankruptcy in NY and NJ visit us at www.online-law-firm.com or email rob@online-law-firm.com Disclaimer: No email or newsgroup communication is to be
construed to establish any sort of an attorney-client relationship, is not
legal advice, and is not a replacement for the advice of a competent
attorney in your jurisdiction. "Harold Fontemier" <spaminator-fontemier@houston.rr.com>
wrote in message news:PT9_a.186660$xg5.156544@twister.austin.rr.com ... IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE
TO BEING BEHIND IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY
LEVERAGE WITH THE LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR
JUST RETURN IT AND TAKE THE HIT? THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN
RETURNED AND THE DEBT BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER.
Robert Stumpf
08-13-2003, 10:44 AM
Yes, but it would probably be a better situation for you if you just gave it
back to the lender.
--
*****
Rob Stumpf, Esq.
Stumpf and Ginter, Attorneys at Law
Practicing Bankruptcy in NY and NJ
visit us at www.online-law-firm.com
or email rob@online-law-firm.com
Disclaimer: No email or newsgroup communication is to be construed to
establish any sort of an attorney-client relationship, is not legal advice,
and is not a replacement for the advice of a competent attorney in your
jurisdiction.
"Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in message
news:G6k_a.187804$xg5.147669@twister.austin.rr.com ... Wouldn't I still be liable if someone took over the payments? "Robert Stumpf" <rob@online-law-firm.com> wrote in message news:bhbhlt$vp1qu$1@ID-200874.news.uni-berlin.de... You could try to negotiate with the lender, if you are a few payments behind they will likely listen to what you have to say...their business is collecting interest, not owning cars. It doesn't hurt to ask. How much "leverage" you have, if any, depends on a lot of things. Have you tried finding someone to take over the payments? It's hard to give you very specific advice, of course, without knowing more specific facts... -- ***** Rob Stumpf, Esq. Stumpf and Ginter, Attorneys at Law Practicing Bankruptcy in NY and NJ visit us at www.online-law-firm.com or email rob@online-law-firm.com Disclaimer: No email or newsgroup communication is to be construed to establish any sort of an attorney-client relationship, is not legal advice, and is not a replacement for the advice of a competent attorney in your jurisdiction. "Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in
message news:PT9_a.186660$xg5.156544@twister.austin.rr.com ... IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE TO BEING BEHIND IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY LEVERAGE
WITH THE LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR JUST RETURN IT AND TAKE THE HIT? THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN RETURNED AND THE DEBT BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER.
Robert Stumpf
08-13-2003, 10:46 AM
I should have said "than if you gave it back to the lender".
--
*****
Rob Stumpf, Esq.
Stumpf and Ginter, Attorneys at Law
Practicing Bankruptcy in NY and NJ
visit us at www.online-law-firm.com
or email rob@online-law-firm.com
Disclaimer: No email or newsgroup communication is to be construed to
establish any sort of an attorney-client relationship, is not legal advice,
and is not a replacement for the advice of a competent attorney in your
jurisdiction.
"Robert Stumpf" <rob@online-law-firm.com> wrote in message
news:bhdter$10k265$1@ID-200874.news.uni-berlin.de... Yes, but it would probably be a better situation for you if you just gave
it back to the lender. -- ***** Rob Stumpf, Esq. Stumpf and Ginter, Attorneys at Law Practicing Bankruptcy in NY and NJ visit us at www.online-law-firm.com or email rob@online-law-firm.com Disclaimer: No email or newsgroup communication is to be construed to establish any sort of an attorney-client relationship, is not legal
advice, and is not a replacement for the advice of a competent attorney in your jurisdiction. "Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in message news:G6k_a.187804$xg5.147669@twister.austin.rr.com ... Wouldn't I still be liable if someone took over the payments? "Robert Stumpf" <rob@online-law-firm.com> wrote in message news:bhbhlt$vp1qu$1@ID-200874.news.uni-berlin.de... You could try to negotiate with the lender, if you are a few payments behind they will likely listen to what you have to say...their business is collecting interest, not owning cars. It doesn't hurt to ask. How
much "leverage" you have, if any, depends on a lot of things. Have you
tried finding someone to take over the payments? It's hard to give you very specific advice, of course, without knowing more specific facts... -- ***** Rob Stumpf, Esq. Stumpf and Ginter, Attorneys at Law Practicing Bankruptcy in NY and NJ visit us at www.online-law-firm.com or email rob@online-law-firm.com Disclaimer: No email or newsgroup communication is to be construed to establish any sort of an attorney-client relationship, is not legal advice, and is not a replacement for the advice of a competent attorney in
your jurisdiction. "Harold Fontemier" <spaminator-fontemier@houston.rr.com> wrote in message news:PT9_a.186660$xg5.156544@twister.austin.rr.com ... > IF A PERSON IS READY TO RETURN THE VEHICLE VOLUNTARILY, DUE TO BEING BEHIND > IN PAYMENTS AND AN EXORBINENT INTEREST RATE, IS THERE ANY LEVERAGE WITH THE > LENDER TO REDUCE THE INTEREST RATE, REFINANCE THE LOAN, OR JUST
RETURN IT > AND TAKE THE HIT? > > THE OTHER THOUGHT IS THAT ONCE THE VEHICLE HAS BEEN RETURNED AND THE DEBT > BECOMES UNSECURED, TO TRY AND NEGOTIATE THE DEBT LATER. > >
