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  1. #1
    Join Date
    Jun 2008
    Posts
    11

    Default Repo and Sale Without Title

    My question involves an auto loan or repossession in the State of: MS

    My vehicle was repo'd 2 months ago...It was then sent to auction and sold...I have a clear title to the vehicle...The lein was never recorded...I got a deficiency letter yesterday, stating the amount of sale and def. balance...

    1) How are they able to sale it without title?
    2) I thought the only way to get a title to the vehicle was by either a POA or title receipt?
    3) What can I do to get the def. balance reduced or voided?

    I never signed a POA, and the lein was never perfected...I never signed a security agreement....It as an internet loan through Cap One, and all I did was sign the check....Now I don't dispute the loan, I dispute thier ability to sale the collateral....Am I wrong?

    Thank you in advance.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Repo and Sale Without Title

    You're claiming that because you breached your contract to assist them in perfecting their lien on the vehicle, you should be immune from repossession? Most likely, they proceeded on the basis that they had a PMSI (purchase money security interest) in the vehicle.

  3. #3
    Join Date
    Jun 2008
    Posts
    11

    Default Re: Repo and Sale Without Title

    Quote Quoting aaron
    View Post
    You're claiming that because you breached your contract to assist them in perfecting their lien on the vehicle, you should be immune from repossession? Most likely, they proceeded on the basis that they had a PMSI (purchase money security interest) in the vehicle.
    Interesting response....I am asking a simple question, not seeking a personal lecture...How did you come to the opinion I am thinking I immune from repo....?

    Let me ask it again....How do they get the title?....I have attempted to call them on more than one occasion to let them know I have the title...It would be easier for them to just let me send it to them...And while I was at it, I would hope to be able to use it as a bargaining chip.

    I borrowed the money/I owe it....But EVRYTHING is negotiable....I was seeking a simple opinion....

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