My question involves an auto loan or repossession in the State of: Texas and Pennsylvania
My husband has a truck titled in Texas with a lien holder. The lien holder stated when we moved that as long as we keep up with the payments there would be no problems, seemed cooperative, but now refuses to send the title to PennDOT in order for him to be able to register it (even though they will get the title back, just as a Pennsylvania title instead of Texas) after we were transferred to Pennsylvania due to his work. Pennsylvania says they have to send it, but the bank says otherwise. Pennsylvania says it is ok to keep it registered with Texas because of the problem, but Texas says we can't keep it registered there unless he is a student or in the military. We had just refinanced it with the bank right after we moved here to help with some unforeseen expenses. It is a 2000 and nobody will refinance it here and owe too much on it to be able to pay it right off. We have 2 years left on the note. We can not afford to use it as a trade in due to the fact the payments would more or less double. It is the only vehicle that has enough seating for our family and is my husband's way to work. We can not register it in either state, are paying almost $500 a month for it, can't afford to get anything else and can't afford for it to hit his credit as a repo if we let it go back because we can't drive it for 2 whole years until it is paid for. The loan papers state nothing to the fact that it has to stay titled in Texas, but the bank says that it is against their policy to change the title to any other state and have never had to. What can we do?