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  1. #1
    Join Date
    Jul 2009
    Posts
    4

    Default Lender Sold Loan to Junk Debt Buyer, but Still Holds the Lien

    I Live in AZ...

    Party A= Original Lender

    Party B= Junk debt buyer

    Things got tough blah, blah.

    Bought a car from Party A. I fell behind on the payments. They never came to get the car they expressed they wanted the behind payments.

    4 months later they sold the debt to Party B. Junk debt buyer.

    Party A is the still lienholder on the title. Party B has the title with no lien.

    Party A expresses no concern over the loan when contacted as they have sold it.

    Party A will not release the lien.

    Lawn ornament? I dont want the car. I would like to sell it and settle the debt.

    How do I get the Lien released? Its been 3 years now.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Lender Sold Loan to Junk Debt Buyer, but Still Holds the Lien

    You get the lien released by satisfying the outstanding debt, then getting a release of lien from the lender. It may be possible to negotiate a reduced payoff with the current owner of the debt, as 100% satisfaction of the outstanding debt, then use proof of the 100% satisfaction to get a release of the lien.

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