Legal Question in Credit and Debt Law in California

I have read that in the UK if you have paid over half of the original loan of a vehicle you can call and have the finance company take the vehicle without having to pay the rest of the loan, I believe it is called the half rule. Is there such a thing here in the US or is the only option voluntarily giving up the vehicle and paying the difference after they auction the vehicle?

Asked on 9/01/09, 1:16 pm

1 Answer from Attorneys

Larry L. Doan Law Office of Larry L. Doan

No such thing here!

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Answered on 9/01/09, 7:18 pm

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