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Gerald, Esq
Gerald, Esq, Lawyer
Category: Legal
Satisfied Customers: 3822
Experience:  30 years of experience
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I have a 1997 Mercury that my husband and I financed

Customer Question

I have a 1997 Mercury that my husband and I financed (privately) and I haven't been able to pay on it for over 5 years now (my husband passed away). I spoke w/the lienholder and all they said was PAY UP. They don't want it back and its in poor shape (doesn't run). Is there any way I can get rid of it?
JA: What state are you in? It matters because laws vary by location.
Customer: Michigan
JA: Has anything been filed or reported?
Customer: no, they are very well off and didn't want anyone to know at that time that they were helping people with financing
JA: Anything else you want the lawyer to know before I connect you?
Customer: I asked them to reduce the 12% per year loan amount and they said no
Submitted: 1 month ago.
Category: Legal
Expert:  Gerald, Esq replied 1 month ago.

Hello,
Thank you for using Just Answer. Please bear with me while I review your question. I will respond fully shortly. Thank you for your patience.

Expert:  Gerald, Esq replied 1 month ago.

The statute of limitation on the debt in Michigan is 6 years from the last date you made a payment. After that dtae they can not sue you for the debt. (but they do not have to release the lien).

You can get rid of the car without a clean title one of two ways:

1) Contact a salvage yard and see if they will take the care as salvage without a title. You may have to call a number of scrappers - some will not take the care without a title.

2) Take the care to the lien holder with a letter stating that you are surendering the car in lieu of title.

In either case make sure you remove the tags from th car and notify DMV that you have surrendered the car and that the registration should be cancelled. Return the tags to the DMV.

Good luck.

Kind regards,

Gerald