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Roger
Roger, Lawyer
Category: Criminal Law
Satisfied Customers: 31022
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I sold a car 1 1/2 yrs ago the tile was cleared by GMAC to

Customer Question

I sold a car 1 1/2 yrs ago the tile was cleared by GMAC to me where I leased it from. I boughgt out lease thru other finance co. Sold car never paid debt to other finance co. I prepaid a lease out of that money & paid off other debt with the sale of the car. Along with the fact that I'm currently going thru bankruptcy.
Submitted: 7 years ago.
Category: Criminal Law
Expert:  Roger replied 7 years ago.
Even if you sold the vehicle, if you didn't pay the loan off, the money is still due. However, your bankruptcy should discharge the debt.
Customer: replied 7 years ago.

Some people are friends are telling me that it's fraud & I could be arrested T/F?

Expert:  Roger replied 7 years ago.
<p>I don't think it is fraud - you just didn't use the money to pay off the debt to clear the vehicle's title. However, if the debt is discharged and the lender re-takes possession of its collateral (car), you may get sued by the buyer.   </p>