Question:
My son is leaving for active duty on 22JAN. He recently purchased a car (about 4 months ago). Does he have any legal ability to get out of the contract without any repercussions? Civil Rights Act coverage, etc? I'm a 12 year veteran myself trying to see what his options are.
Jim's Reply:
I'm not exactly sure what you're asking? It almost sounds as if you're suggesting that there's some way he can walk away from the contract he signed in good faith and leaving the lender holding the bag? His #1 option should be to quickly sell the vehicle and pay off his obligation. Next on the list is to keep the vehicle, timely pay the debt and he'll have a car when he needs one. The bottom line is that he signed a contract and he promised to repay a debt. If he doesn't pay the debt and he's active military, there are ways to garnish military pay and ruin a credit history for years. It's not a great way to begin a stint in service to our country.