A lender may be willing to settle with you if you give up your car if they are unable to collect the full amount of money that you owe them. This is because the lender can then sell the car and use the proceeds to pay off the debt. However, the lender is not required to settle with you and may instead choose to sue you for the full amount of money that you owe them. If you are considering giving up your car to settle a debt with a lender, it is important to speak with an attorney to discuss your rights and options.
