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Assume Balance

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1 Assume Balance on Mon Feb 03, 2014 7:51 pm

rickytamayo


Arresto Menor
Good day po!
Gusto ko pong humingi ng advice kung anong mabuting gawin sa situation namin.
Bale nung 2011 po, i bought a car with assume balance. Meron po kaming deed of sale and all that etc. Notarized po ang abugado ang agreement.
A year after, ung first owner na mga taga Cavite ay kinontak po ako para i-buy back ulit ang car. Pero wala po silang pera, ang gusto nilang mangyari is , mag pirmahan po ng agreement na babayaran nila ako sa ganitong date. I didn't agree.
So nanatili po sa akin ang car. Anyway, that date na sinabi nila has passed pero di pa din sila nagkaron ng pera, inshort kung pumayag po ako. wala pa din silang maibibigay pala. buti na lang di ako naki pag agreement.

And that goes on and on paulit ulit lang po pero until now wala pa din silang pera and nag threatened sila na ibibigay nila ung name ko sa bank para bank na lang mag repo ng car without them paying me which is absolutely unfair. Sila pa po ang mayayabang at di man lang makisuyo na parang sila pa ang biktima.

Ano po bang magandang gawin dito sa case na ganito? gusto ko lang naman pong mbawi ang pinag hirapan kong pera at ang mga naihulog ko.
I understand naman po na kayang i reposses ng bank /financing company ang kotse ng basta basta lang tama po ba?
And totoo po bang makukulong sila pag di ko naibalik ung car? Ayaw na daw po kasing pumayag ng financing na ituloy nila ung hulog so ang kelangan talaga nila is ung kotse.
Paano po kaya ang gagawin ko?

Maraming salamat po sa advice!


Ricky

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2 Assume Balance on Fri Mar 17, 2017 1:35 pm

Erson17


Arresto Menor
Good day po,ano po ba mangyayari if malaman ni bangko na pinasalo mo ang kotse?and ano pwede gawin since yung sumalo ng kotse ay friend ko kaya walang documents na pirmahan..dhil iniinsist nya na wsla naman daw bisa kung gagawa po ako ng contract to assume balance?Maraming salamat po..

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3 Re: Assume Balance on Fri Mar 17, 2017 6:03 pm

mrs_scofield


Prision Correccional
The contract of course is valid between you and your friend but cannot bind the bank unless it gave consent to the said assignment.  If your friend has the financial capacity to assume the loan, it is most likely that the bank will give consent on the assignment. If this will be the case, the bank, upon your request, will process the transfer of the loan from your name to your friend's.  I advise against the oral agreement for your friend to assume the car loan to avoid any problem in the future and for your own security since oral agreements are hard to prove.

Consult the bank and ask the process on how to transfer/assign the credit to third person. If the process and documentations can easily be complied with, I don't see any reason against not doing it.

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