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Roger, Attorney
Category: Legal
Satisfied Customers: 31660
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Can you tell me how to do a voluntary surrender on a piece

Customer Question

Customer: Can you tell me how to do a voluntary surrender on a piece of jewelry?
JA: Thanks. Can you give me any more details about your issue?
Customer: I'm trying to help my son. He is in a bad situation. He got engaged and the relationship didn't work out. He subsequently lost his job and cannot make the payments. its is past the return date.
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Submitted: 1 year ago.
Category: Legal
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

Your son can try to return the jewelry to the creditor, and it should accept it back......but if the value has decreased, he may be liable to pay the difference back to the creditor (called a deficiency judgment).

Customer: replied 1 year ago.
Im not satisfied with your answer. I want to know how to do a voluntary surrender
Expert:  Roger replied 1 year ago.

That is how you'd voluntarily surrender any personal property -- you take the collateral to the creditor and turn it over to them.