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  1. #1
    Join Date
    Feb 2009

    Default Title Loan and Repossession

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

    I just lost my job durning December of 2008...It desperation I took out a title loan on my car in the amount of $2,500. I have been paying on it since. The date due was the 6th of February. I got an extension for February the 14th, but the money that I was expecting did not come through...therefor I did not have the payment for February. I called the place where I took out the title loan and they said that they could not give me any more time. I stated that I got a new job but my first pay day is not until the 27th of February. They are not willing to work with me one bit. I need my car to be able to get back and forth to work. Im 21 and living on my own. I have already had two other title loans for the same amount, and have been able to pay the other two off. They continue harassing me. I cannot lose my car...and I promise you...I will never get another title loan after this one. I will be able to pay off the full amount of the title loan by the end of this month. I need to know if they will accept my payment by that time. What should I do? I know there is a 30 day time period from the date due. I need to know what actions to take. Thank you.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Title Loan and Repossession

    If they don't repo before that date, and accept payment of the loan (plus any penalties, etc.) in its entirety at the end of the month, that should resolve the issue.

    If this is indicative of your financial problems in other areas of your life, consider talking to a bankruptcy lawyer.

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