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Voluntary Repossession in Tennessee

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  • 05-19-2009, 02:32 PM
    akash929
    Voluntary Repossession in Tennessee
    My question involves an auto loan or repossession in the State of: Tennessee

    A friend of mine purchased a car that he can currently no longer afford. He advised the dealership and lending company in Dec 2008 of his loss of job and that they should come pick up the car OR he could drop it off himself.

    To date, he still has the car. Initially they told him not to worry about it they would work it out, but would not pick up the car. Now they are threatening legal action with a possibility of suing, but still will not pick up the car.

    He has advised them on more that one occassion that due to job loss he cannot afford the car, and is at a loss as to why they will not arrange to pick it up or let him return it.

    Obviously, so long as he has the car, he continues to owe them for each passing month.

    Without admitting it, it seems they are forcing him to keep the car so the bill will keep growing. Is this legal? and how can he get them to take the car since he can no longer afford it? If they do finally decide to go to court what can he do to show he's attempted to give the car back other than providing phone bills to show contact?

    Thanks much
  • 05-20-2009, 09:47 PM
    Mr. Knowitall
    Re: Voluntary Repossession in Tennessee
    They don't have to pick up the car.

    Your best bet is to sell the car and cover the difference between the selling price and the balance of your lien.
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