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Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans.

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Old 06-02-2006, 07:48 PM
jlynn jlynn is offline
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Default Default title loan
what are my options for getting out of a title loan without having to give back the car? the interest rates are all we have paid on this for months and the loan accrues $9.25 interest daily. can a title loan place take us to court?
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Old 06-02-2006, 08:49 PM
expertlaw expertlaw is offline
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Default Re: Default title loan
A car where the creditor has a lien on the title is a secured debt. If you default on a car loan, the lender can repossess the vehicle. You may wish to look into refinancing the loan, or using a lower interest source of funding (such as a home equity line of credit) to pay off the car loan.
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