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Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans.

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Old 06-06-2005, 04:46 PM
movistar movistar is offline
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Join Date: Jun 2005
Location: virginia
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Default Making A Car Loan
I want to buy a car for my ex-girlfriend so that she can get a job and I'm going to allow her to pay me later, Its not going to be very expensive probably around $1000 dollars, i want her to pay me back $500. we just had a child together and she is threatening child support I want to do all I can for her but I don't want to get into major debt over it.
1. How can I protect myself from not being repayed this loan for $500?
2. If I take her to court can she be excused from paying me back??
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Old 06-07-2005, 12:43 AM
aaron aaron is offline
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Default Secured Creditor On Car
You would protect yourself by registering as a secured creditor for the motor vehicle, just as a bank does. If you're lucky, your state's DMV can provide you with a form to complete which would give you that status.
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