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  1. #11
    Join Date
    May 2019
    Posts
    12

    Default Re: Bank Refusing to P/U Vehicle

    Now that we have paid and the settlement letter has been sent, they HAVE to release the lien, correct?

  2. #12
    Join Date
    Jan 2006
    Posts
    38,718

    Default Re: Bank Refusing to P/U Vehicle

    Quote Quoting dgreco49
    View Post
    We wound up settling @ $650. Title is being sent out.
    Good to hear it worked out for you.

  3. #13
    Join Date
    Oct 2006
    Posts
    15,502

    Default Re: Bank Refusing to P/U Vehicle

    Quote Quoting dgreco49
    View Post
    Now that we have paid and the settlement letter has been sent, they HAVE to release the lien, correct?
    Yes, otherwise they wouldn't be sending you the title.

  4. #14
    Join Date
    Jan 2006
    Posts
    38,718

    Default Re: Bank Refusing to P/U Vehicle

    Quote Quoting llworking
    View Post
    Yes, otherwise they wouldn't be sending you the title.
    Actually they still wouldn’t have to release the lien. While both states are states where the dmv sends the title to the lien holder, there would be nothing preventing the lender from sending the title to the owner with a lien still registered against the title. I suspect that isn’t what is happening though.

    Even if they did fail to releasee rhe lien, op would have actions available to have a court release the lien since the deal is to pay $650 as payment in full of the outstanding debt. At least that is what it appears to be anyway. Once the debt is paid in full, the lien holder has no right to continue the lien.

    All op can do is wait and see. Personally I wouldn’t have sent the money until I had the deal in writing. It isn’t beyond some lenders to renege on such deals claiming they made no such deal.

  5. #15
    Join Date
    Oct 2006
    Posts
    15,502

    Default Re: Bank Refusing to P/U Vehicle

    Quote Quoting jk
    View Post
    Actually they still wouldn’t have to release the lien. While both states are states where the dmv sends the title to the lien holder, there would be nothing preventing the lender from sending the title to the owner with a lien still registered against the title. I suspect that isn’t what is happening though.

    Even if they did fail to releasee rhe lien, op would have actions available to have a court release the lien since the deal is to pay $650 as payment in full of the outstanding debt. At least that is what it appears to be anyway. Once the debt is paid in full, the lien holder has no right to continue the lien.

    All op can do is wait and see. Personally I wouldn’t have sent the money until I had the deal in writing. It isn’t beyond some lenders to renege on such deals claiming they made no such deal.
    He got a written settlement offer and accepted it. I think that's "in writing".

  6. #16
    Join Date
    Jan 2006
    Posts
    38,718

    Default Re: Bank Refusing to P/U Vehicle

    Quote Quoting llworking
    View Post
    He got a written settlement offer and accepted it. I think that's "in writing".
    I apparently missed he had it in writing. If he has, then that along with proof of payment would allow him to have the lien released by a court if necessary.

    Lets just hope there are some honest people left in the world and it will turn out as agreed upon.

  7. #17
    Join Date
    May 2019
    Posts
    12

    Default Re: Bank Refusing to P/U Vehicle

    Still waiting on Title in the mail. They insist they sent it USPS First Class 10 days go so..

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