I am moving to Germany because I am in the Army....I am letting someone take over my payments for my car what kind of paper work should I have and what should be in it.
2007-10-17 07:48:37 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
wizjp has it right. If the person doesn't make payments, it is your credit at risk. I would highly suggest that you have the person get their own loan and get your loan paid off in full prior to leaving. Trust me, the lender will not care that you have a doc stating that this person will be taking over payments.
Best of luck. Thank you for your service in the army.
2007-10-17 07:53:13 · answer #1 · answered by halestrm 6 · 1⤊ 0⤋
You don't write anything. This is required to be approved by the lender. If not, you are responsible for non-payments.
2007-10-17 15:07:05 · answer #2 · answered by sensible_man 7 · 0⤊ 0⤋
Start with the lender. If they don't approve, you have nothing if he defaults.
2007-10-17 14:51:06 · answer #3 · answered by wizjp 7 · 0⤊ 0⤋