Posted on: 08th Dec, 2009 08:25 am
:cry: Hello,my husband have a truck (his property) he work as owner operator,we have all together a debt(more or less in 45,000.00)we have a house,still paying,(now we get the new help about facing forclosure,but i think we will get the help,now this is my question can i traspass my husban truck to a friend ,so the court will not take us the only thing we have( the Truck) to work and feed our 2 children,please,help
how long take for the answer,sorry I'm new here
marla, i don't believe that you can transfer the truck to someone else without raising questions about fraud - you don't need that.
as for someone repossessing the truck - is there a loan that you pay in connection with that truck? that is key. any lender to whom you make truck payments can certainly take the vehicle if you fail to pay. other lenders wouldn't be likely to get permission to do so since it's the source of your income.
i hope this is helpful.
as for someone repossessing the truck - is there a loan that you pay in connection with that truck? that is key. any lender to whom you make truck payments can certainly take the vehicle if you fail to pay. other lenders wouldn't be likely to get permission to do so since it's the source of your income.
i hope this is helpful.
Yes ,you right ,I already ask my husband he said the same thing,I just want to help, I think I did not know how to focus in the question , but that it not the case the truck is already paid we don't owe anything, I just focus the question wrong,,thanks anyway
Good luck Marla - the debt on your home is not huge by home loan standards, chances are that if you could find a way to raise a little extra cash you can keep the payments up and not have to worry about foreclosure.