Sam’s car was a total loss after his motor vehicle accident. Sam still owed about $10,000.00 to the bank but only received $5,000.00 for his car. Sam sent the $5,000.00 to the bank and then stopped making payments on the difference thinking that the bank would forgive the remaining part of the loan. The bank filed a lawsuit against Sam to recover $5,000.00.
What are Sam’s options?
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Attorney Abogado
Guzman Legal, P.A.
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