Cross Collateralization Agreements

[Kmarfitt]

My question involves an auto loan or repossession in the State of: florida i had 2 auto loans with the same credit union each loan was started months apart
the first loan has been paid off for 9 months now and they will not release title for vehicle until the other is paid off as well. now both loans were secured by the vehicle purchased. is it legal for them to hold the title when each loan was secured by there own property? any help in this will be greatly appreciated as im stuck at this point.

[Mr. Knowitall]

You need to read your loan contracts.

If by virtue of your contracts you agreed that they held a security interest for both loans in both vehicles, and that's what they're doing, then... yes, they can enforce the terms ofyour contracts.