assume balance problem

**CLAVEL3699** · June 28th, 2007 06:03 PM

may friend ako na umalis papuntang canada may mga car sya yung isang car nya dpa nya tapos bayaran sa bank at wala syang perang bayaran kaagad.

ngayon binenta nya kaso assume balance at may mga documento sila na promissory note to assume balance.

ang siste ngayon hindi binabayaran nang kumuha sa kanya sa bangko puro talbog yung mga check na binigay sa kanila.

Gusto na lang nila kunin at isoli na lang sa bangko.

Ano ang dapat kaya nya gawin kawawa naman kasi yung misis nya yun ang namomoblema.

**lma1911** · June 28th, 2007 06:55 PM

I believe na pag may balance pa nasa banko pa yung original copy ng Certificate of Registration nung car. kung matagal ng di nakakahulog at talbog pa ang mga cheque buti naman at di pa nababatak.

**the_wildthing** · June 29th, 2007 02:11 AM

Let the bank handle it. Give the bank all the details of the new buyer and have their collection agency pull the car out.

**CLAVEL3699** · June 29th, 2007 05:21 PM

Originally Posted by the_wildthing

Let the bank handle it. Give the bank all the details of the new buyer and have their collection agency pull the car out.

mag ka problema kaya frend ko sa bank?

**the_wildthing** · June 30th, 2007 12:42 AM

Originally Posted by CLAVEL3699

mag ka problema kaya frend ko sa bank?

Nope, as long as he is cooperative. Their main concern is getting the car back at this point.

**CLAVEL3699** · June 30th, 2007 03:44 PM

Originally Posted by the_wildthing

Nope, as long as he is cooperative. Their main concern is getting the car back at this point.

cge po sabihin ko sa kanila.

Advise na nila bank na pina assume nila yung kotse at nagtalbugan na yung check na binayad sa kanila.

Then bahala na bank dun?

**hominid** · June 30th, 2007 04:17 PM

Ang concern nya pala eh baka ma bad rep cya dun sa bank.

Meron kaya makakapag bigay ng complete procedure ng ganitong assume balance?

**razor** · June 30th, 2007 05:41 PM

The assume balance transaction was done without the consent and therefore not binding with the Bank. The Bank can still collect from the original borrower despite the assume balance transaction. If the monthly amortization is not paid, the bank may go after the original borrower.

Solution:

1. Go to Bank to report transaction and expressed wilingness in writing to surrender vehicle. Take ote that Banks are trigger happy in filing cases.

2. Convince possessor to surrender vehicle to the Bank; tell him if vehicle is not surrendered he will be sued together with original owner.

3. Coordinate with Bank and provide information where vehicle can be located.

4. You may be asked to Execute dacion en pago in settlement of obligations (banks have this form available).

5. Follow-up with Bank the repossession of vehicle and request clearance/certification after vehicle is recovered.

6. Again, all your communications should be in writing.

7. As much as possible, continue paying the amortization.

What Bank is involved? How many amortizations has been missed?

**hominid** · June 30th, 2007 08:22 PM

Bakit hindi kasi ininform ang bank in the first place. Nadamay pa 2loy un original owner imbes na labas na cya.

Penge naman po ng proper procedure, just in case maisipan kong magbenta ng hinuhulugan pa.

**jakedeguzman** · July 1st, 2007 10:11 AM

hi der! buy and sell po ako ng 2nd hand cars.. may mga experience po kme re: cars with assume balance.. pag medyo loko yund dealer na kausap nyo d nya talaga bayaran ang balance pero bebenta pa din nya yun pero mura, ang tawag dun TALON FINANCING.. dapat pag binenta nyo unit nyo with balance diretso kyo sa bank para pay off balance.. para clear ang name nyo sa bank at walang bad record.. makaka loan ulit kyo..