Results 1 to 4 of 4
  1. #1
    Join Date
    Dec 2010
    Posts
    2

    Default Car Title Loan Default

    My question involves vehicle registration or title in the state of: Texas: My question is this. I took out a car title loan on my car at one place, paid it off and took it to another company to get another loan which offered me more money. Now, the problem is, when I got the loan, the title I gave them still had the old lien holders name on the title and was still officially registered as the title owner at the time I took out the new loan. Now I am in default on this loan and though they don't officially have the title to my car in their name, can they still repo my car? I know I owe them and plan to continue to pay the loan off...but I'm afraid they can take my car even though the car is not registered in their company's name. Can they still repo it if it is not in their name yet?

  2. #2
    Join Date
    Sep 2010
    Posts
    19,776

    Default Re: Car Title Loan Default

    It's quite likely that they took documents and your existing title down and got their lien recorded. If they did, they can repossess the car.

  3. #3
    Join Date
    Dec 2010
    Posts
    2

    Default Re: Car Title Loan Default

    They called me and asked me to bring my title that I got from the other company to them and my payoff slip bc they couldn't get it transferred to their name as lienholders. So I still have the title in my possession and it is still in the name of the other loan company and myself as second lienholder.

  4. #4
    Join Date
    Feb 2010
    Location
    CT & IL
    Posts
    5,273

    Default Re: Car Title Loan Default

    Quote Quoting tjpatt8
    View Post
    They called me and asked me to bring my title that I got from the other company to them and my payoff slip bc they couldn't get it transferred to their name as lienholders. So I still have the title in my possession and it is still in the name of the other loan company and myself as second lienholder.
    If you want to comply you can ... sounds like they cannot repo due to this issue though. I might be wrong.

    1. Sponsored Links
       

Similar Threads

  1. Repossession: In Default on Car Title Loan in Texas
    By Ms.Mistake in forum Cars and Dealerships
    Replies: 4
    Last Post: 03-02-2010, 10:55 PM
  2. Repossession: Title Loan in Default in Idaho
    By dougebehrens@comcast.net in forum Cars and Dealerships
    Replies: 1
    Last Post: 03-21-2009, 05:38 PM
  3. Repossession: Default of Car Loan by Ex-Girlfriend, Co-Title Holder
    By atcsam in forum Cars and Dealerships
    Replies: 1
    Last Post: 10-24-2007, 04:35 PM
  4. Repossession: Default title loan
    By jlynn in forum Cars and Dealerships
    Replies: 1
    Last Post: 06-02-2006, 07:49 PM
  5. Repossession: Title Loan Default and Repossession
    By dan in forum Cars and Dealerships
    Replies: 3
    Last Post: 02-22-2005, 08:52 AM
 
 
Sponsored Links

Legal Help, Information and Resources