Don't put cash into a declining asset ...

[mathjak107]

anything you get a loan for and dont pay back is taxable income you owe the irs technically.

[ikubak]

Quote:

Originally Posted by haha The reason you couldn't get him to understand this is that he wants to sell you some financing. I've never met a dumb salesman who wasn't dumb for a good dollars and cents reason. Ha

Bingo!!

[slepyhed]

Quote:

Originally Posted by Twinkle Toes So, if you give the keys and RV back to the bank...and the bank sells the RV for what the market will bring...don't you still owe the bank the difference between what you owed at default (plus legal costs, sales cost, etc.) and what the bank was able to sell the RV for? And will the bank issue you a 1099 for the "difference" you still owed them if they have to write it off?

I suppose you could then buy another RV and go "on the lam". Besides, you can then start doing drugs for a hobby. Its a recreational vehical after all!

[HFWR]

Quote:

Originally Posted by slepyhed I suppose you could then buy another RV and go "on the lam". Besides, you can then start doing drugs for a hobby. Its a recreational vehical after all!

C'mon get happy...