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What to Do if a Title Lender Won't Repossess Your Car

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  • 07-08-2017, 08:35 AM
    Mikel110806
    What to Do if a Title Lender Won't Repossess Your Car
    My question involves collection proceedings in the State of: Texas.

    I have a title loan in Texas and the lender won't pick up the collateral. What are my options?
  • 07-08-2017, 09:06 AM
    flyingron
    Re: Title Loan in Texas and Lender Won't Pick Up Collateral what are my options
    Who are you in this story?
  • 07-08-2017, 03:38 PM
    Mr. Knowitall
    Re: What to Do if a Title Lender Won't Repossess Your Car
    You can pay off your debt and then sell your car.
  • 07-08-2017, 04:20 PM
    Taxing Matters
    Re: What to Do if a Title Lender Won't Repossess Your Car
    Quote:

    Quoting Mr. Knowitall
    View Post
    You can pay off your debt and then sell your car.

    I agree. Another idea would be to contact the lender and see if it will agree to a short sale of the car: it gets all the proceeds from the sale and releases the lien for the buyer. That at least gets you credit towards the loan balance and relieves you of having to pay for the annual registration fees, taxes, and insurance on the car. One thing you can’t do is force the lender to repo the car.
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