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It is also important make certain that before selling your used cars in Lebanon you have hired legal counsel to make the transaction reputable. The lawyer creates a contract form which you and the customer should idea. The three parties the lawyer included keeps a copy for future use in case on any false impression.
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Nope. Or, at least, the answer is “nope” assuming you bought the car the unique way everyone else does – with a “secured equity loan.” A secured loan is a debt in which money is owed and collateral has been pledged as security for the loan. Each and every person turns into a loan consumer a car, the car typically is collateral. Same goes to your mortgage – you get a loan acquire a house, the home is the fairness. Sometimes furniture or appliances are used as collateral on the cloths line of credit used buy them. These are all secured debts.
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Chapter 7 – This chapter additionally be known as ‘liquidation of debts’. Alternative of bankruptcy allows most people to give up all his non-exempt assets to a court-appointed trustee. This trustee is in command of liquidating all of the assets and reasonably distributing them on the list of creditors needed. This is the most common preference when discussing filing for bankruptcy.
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