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Personal Financing >> Bad Credit & Debt Consolidation >> car loan default and worse

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Discussion: car loan default and worse-
#390, posted 12 Feb 2022 1:04 pm141 words
bigproblem (Offline)

Joined 12 Feb 2022 12:47 pm

1 post

I have a huge issue! A family member, who is now in a treatment program for substance abuse, a week or so before entering the program walked into a car dealership in South East Florida and bought a new 2007 car. He did so with no job and no credit, no down payment. Not sure why the loan companies allow this to happen. A few days after purchase this he "sold" the car to another person for $300 and no title etc. He has now been in treatment for 2 1/2 months and is clean, sober and recovering and realizes what a bad decision this whole situation was.

At this point he has no money and worse no car to have repossessed. He doesn't want to get into legal trouble. What are his options? We are all really nervous about this.

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