Hello and thank you for the question.
Reviewing it now
are you asking if your dad is responsible for the debt?
or whether it should be returned?
Pretty much. I don't want my dad to get a repossession on his credit report.
It is best to voluntarily return it
And if he returns it, how should he go about doing it?
whoever has it needs to do so.
if the vehicle was sold to your dad, and by that I mean that he is on contract
failure to return it can lead to a mark on his credit
so as a family you should seek to return it
to get written assurance that dealer wont pursue further claims
most dealers will accomodate that
and proceed to resell
OK, but the dealership says they would file a rep if he doesn't refinance and just returns it. Does that sound right?
if he returns it he should be released from it
for him to refi a car no longer being used is not correct
since then he owes on the debt and has no car
he needs to negotiate to return it and then be completely released
Is that clear?
Right, that's what I was thinking. Finance Company reps still show the loan as active, so I want to be sure they release him from responsibility, right now it's just the Dealer's story. Finance company hasn't contacted him. But it's clear.
Kindly click on an excellent rating for the answer
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