Amy Horn

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What Is Debt Cancellation Agreement California

The borrower must send the lender a debt relief agreement for signature if the lender accepts the new agreement. (i) The difference between the actual present value of the buyer`s or lessee`s vehicle at the time of an unredacted theft or total loss and the amount due to the vehicle under a conditional lease or purchase agreement used to purchase or lease the vehicle. Debt relief is not insurance, it is a modification of the instalment retail contract where the customer pays a fee to the dealer or financial company and in return, the dealer or finance company waives the customer`s debts minus a small deductible (according to state law) if the vehicle is totally lost or stolen and not confiscated. .

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