Vehicle Purchase Agreement
Date: Fri, 09/19/2008 - 07:53
My husband and I entered into a vehicle purchase agreement in June of this year with my uncle. My uncle has the vehicle financed through CitiFinancial. Upon reading the contract they signed it says they ARE NOT ALLOWED to sell, transfer or convey any rights to the vehicle without CitiFinancial's Prior Written Consent.
My question is this:
My husband and I have hit a financial hard spot and have filed for bankruptcy. We can no longer afford this vehicle and from my understanding we don't have any right in it anyway. Can we give this vehicle back to my uncle without being sued? Can we include this in on our bankruptcy. We have filed for Chapter 7.
Any help would be greatly appreicated.
My question is this:
My husband and I have hit a financial hard spot and have filed for bankruptcy. We can no longer afford this vehicle and from my understanding we don't have any right in it anyway. Can we give this vehicle back to my uncle without being sued? Can we include this in on our bankruptcy. We have filed for Chapter 7.
Any help would be greatly appreicated.
Cris....when you file BK you have to include all debts so the ca
Cris....when you file BK you have to include all debts so the car has to be listed. However if you fail to reaffirm the debt, they will pursue your uncle for the balance. You should really be talking to your attorney.
Smile Maria....your question had nothing to do with BK and you might get better response posting it in the correct forum.
Have you read your contract? Was it contingent on financing? Was there any cooling off period? From a contract perspective, you may be stuck with it.
