Full question:
I bought a used car then lost my job so, I never made a payment except for the down payment. I am behind 8 months in payments. I was told there was a warrant out for me. Can I go to jail for not making the payments? Can I voluntarily take the car back to the car lot? If I take the car back, will I be out of trouble?
- Category: Debts and Credit
- Date:
- State: National
Answer:
Generally, you cannot be jailed just for failing to pay a debt. However, the terms of your contract and the dealer's policies will determine if you can return the car. Inability to pay does not automatically allow you to rescind a contract. If you return the car, it may help resolve some issues, but it does not guarantee you will be free from trouble.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.