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  1. #1
    Join Date
    Mar 2012
    Posts
    2

    Default Liability After Default on a Title Loan

    My question involves an auto loan or repossession in the State of: Texas

    I recently got a loan thru Cash America pawn who was representing i believe NPC finance limited. Loan paid thru willshire credit. Any how the loan was for 2500, and i have made a few payments and have decided that the end game on this is going to far exceed the value of the vehicle and the means to pay the loan itself (seemed due able at 1st ). I guess my 1 and only question is if i decide that i just want to default and give them the vehicle can they come after me for more money. My vehicle is listed on the contract as the motor vehicle collateral. I just dont want to see them trying to garnish my wages down the road.
    any info would be great

  2. #2
    Join Date
    Sep 2005
    Location
    California
    Posts
    65,646

    Default Re: Liability After Default on a Title Loan

    Although the details will be in your contract, to which we have no access, I expect that if you owe more money than your vehicle is worth, you will continue to owe the balance after your vehicle is repossessed along with any repossession fees, late fees, interest, penalties and the like that weren't satisfied from the sale of the car.

  3. #3
    Join Date
    Mar 2012
    Posts
    2

    Default Re: Liability After Default on a Title Loan

    Ok last question i have is, would that be the interest to date or for the length of the contract, i guess what i mean is if i borrowed 2500 with a 800 fee for the loan, with 24 payments, the total paid to them would be 5600 after 2 years, can they come after me for the entire amount of just the loan amount and loan fee.

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