Quote:
Originally Posted by Colmike7
Long story short, I owed like $5000 still on the car, I said I wasn't paying, then I set up a time and place for the repo people to get it and nothing is on my record or anything left owed and I bought another car in my name right after..
Still talk to an attorney first, though, him being taken advantage of as a senior would probably be a better idea.
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the lender didn't pursue it/you is all. they are fully within their rights to do so though. cost/benefit. it's also within their rights to inform the credit agencies.
voluntary repo doesn't excuse the borrower from their responsibility to pay, a repo is a repo.