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voluntary surrender 

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I have a toy hauler that I can no longer afford. I owe more than it is worth. I want to give it to the lender voluntarily. I know they will want me to pay the difference on the loan. What are my options? 

Asked in Credit Repair - 538 days ago

Tags: voluntary surrender 

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Craig
Craig
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You can try selling the hauler for an amount equivalent to what you owe your creditor. You can also call your creditor and see if you can work something out with them. Otherwise you may be legally liable for the difference in the value. I recommend you contact an attorney who may be able to better advise you of all your legal options.

Answered by LQ at Nov 29, 2010 08:37 PM

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LQ
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