How to Surrender a Car After a Bankruptcy Discharge
- 1). Contact the lender to ask if you reaffirmed the debt. Ask the lender to send you copies of the reaffirmation agreement if you cannot locate your original copy. Ask the lender about its process for surrendering a car.
- 2). Read the agreement. Study any clauses regarding the lender's rights if you do not make your payments. Normally, you owe any balance remaining after the lender sells the car.
- 3). Arrange with the lender to surrender your car. Negotiate a deal with the lender to cancel any remaining balance after it sells the car. If you did not sign a reaffirmation agreement, the lender cannot hold you responsible for any remaining balance after the sale.
- 4). Take your car to the place specified by the lender. Receive a receipt for the vehicle. Take pictures of the vehicle showing its condition.
- 5). Call your insurance company to cancel the insurance on the car. Do not cancel the insurance until you surrender the vehicle.
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