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Matters of the Heart. Has a Commercial Fuck turned into a torrid Love Affair which has turned your life upside down? Fear not. We have experts here who can help you through your roller coaster ride. Tell us your story and we'll do our best to help.

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Old Yesterday, 10:09 AM
oversam oversam is offline
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oversam is under Moderation till he learns how to behave
Need some financial advice

I have a friend (let's say A) who is using his name for a car loan that has 12 months COE left for a friend (let's say B). B is the one using the car and servicing the loan but recently he's been paying late, and not even responding to text/calls. A is a pissed off with B, so he wants to consider his options.

If he takes somehow finds and managed takes back the first car, he has to service the loan. A is also paying for a 2nd car loan he is using as PHV. The first car its not registered for PHV and has a much higher loan. It would be wallet damaging even if he sells off his first car.

If A reports the car stolen/missing, insurance would be not able to cover the loan so that's also wallet damaging.

If A does nothing and hopes B will continue to service the loan (12 months left), what happens if B can't pay? They will repossess the car and can the loan company bankrupt A?

What are your suggestions?
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