Turn in motorhome back to bank
Has anyone got some information on what happens and how bad it is to turn your motorhome back over to the bank? I have a 2006 Allegro Bus that I have been trying to sell for a couple of months with n...
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Talk to an attorney. There are many variables that can affect the outcome.
Sometimes giving it to the bank is the good move (my dad was about to do so on advice of an attorney - he wasn't going to live long enough for the credit hit to hurt him and he couldn't afford the monthly payments and insurance - he died the month he stopped making payments on it).
Other times, it can do more harm than good. Sometimes it's better to just file bankruptcy than it is to default on a single item - you usually screw your credit either way.
Sometimes giving it to the bank is the good move (my dad was about to do so on advice of an attorney - he wasn't going to live long enough for the credit hit to hurt him and he couldn't afford the monthly payments and insurance - he died the month he stopped making payments on it).
Other times, it can do more harm than good. Sometimes it's better to just file bankruptcy than it is to default on a single item - you usually screw your credit either way.
