Ok we did a voluntary surrender on our car last week, per our attorney's instructions. We are filing 7 on 8/6(switched from 7/15 due because of finaces). The car had a little dent we could not afford to fix do you think they are going to make us pay for that repair?
We were under the impression that since we surrendered it we would be responisble for the balance of our loan after they auction it "as is", but that that balance would eventually be considered IIB. However one of the 5000 forms we filled out for the lawyer said something about damage to a vehicle being our responsibility so we needed to maintain full coverage until it is repo'd(we did have full coverage we just couldn't swing the deductable).
BTW The guy was so nice and even agreed to meet us else where so no one would see the recovery truck and offered to come a different day if we needed it for a few more days or had plans. I'm sure business is really good for them right now putting them in a great mood.
Lauren
We were under the impression that since we surrendered it we would be responisble for the balance of our loan after they auction it "as is", but that that balance would eventually be considered IIB. However one of the 5000 forms we filled out for the lawyer said something about damage to a vehicle being our responsibility so we needed to maintain full coverage until it is repo'd(we did have full coverage we just couldn't swing the deductable).
BTW The guy was so nice and even agreed to meet us else where so no one would see the recovery truck and offered to come a different day if we needed it for a few more days or had plans. I'm sure business is really good for them right now putting them in a great mood.
Lauren
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