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documented sailboat

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phillipsfree Joined: 25 Apr 2011 Posts: 1 1.25 Dollars($)	Posted: Mon Apr 25, 2011 2:12 pm    Post subject: documented sailboat Like 0 Dislike 0 I have a documented sailboat that I owe $40,000 on. I have tried to sell it for several years. Can I just give it to the bank ??
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 25, 2011 7:50 pm    Post subject: Like 0 Dislike 0 Hi phillipsfree! Welcome to forums! You can transfer the property to the bank who can sell it off in order to recover as much dues as possible. This may have a negative affect on your credit report and lower your credit scores as well. Feel free to ask if you've further queries. Sussane

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