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If I voluntarily turn my RV back to the bank what are my obligations

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If I voluntarily turn my RV back to the bank what are my obligations and potential repercussions besides ruining my credit? This loan on the RV is with Bank of America which holds the mortage on my car and my home. If they sue me Can BofA try and take those or other assets from me? Thanks
The company can file suit to recover the amount financed and costs associated. The company has no obligation to accept the vehicle in lieu of repossession. The vehicle will be sold at public auction, the proceeds applied to the debt and the remaining balance will be the amount pursued by the lender.

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Customer: replied 7 years ago.
If they file suit can they take other assets away from me? i.e. Can they take my home and other vehichle financed through them?
The lender would need to obtain a judgment and could only do so if succesful in the civil suit. Once the lender does have a judgment, they may attempt to satisfy the debt in a number of ways including a lien against your home or garnishment of wages. You may want to consider speaking with a bankruptcy attorney in detail about your finances. Bankrutcy may be a viable option which will allow you to avoid collection attempts.

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Please click on the ACCEPT button for my answer so that I receive credit for assisting you. You may continue to ask follow-up questions after accepting. If the information is helpful, I would very much appreciate positive feedback. Bonuses are also appreciated. The responses do not create an attorney-client relationship and are informational only.
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