I took the loan out in Sept of 2005. I paid ontime all the interest charges but was unable to pay the whole thing off. Then the car broke down and I defaulted on the loan. Now they are threatening to sue me after I have paid over 1000.00 for a 400.00 loan on top of offering them the car which they turned down because it does not run. I want to sell the car for parts but can't until I can get the title back. I don't think it is fair that I have paid so much and now they are trying to sue me for another 1200.00 on top of what I have paid already. What can I do? I just needed a little help on bills and now I am more in debt than I started. How can I get a title now to sell the parts off my car or sell the car totally?
2006-09-27 14:25:21 · 7 answers · asked by nyerwildestdreams 1 in Cars & Transportation ➔ Other - Cars & Transportation
You'll have to read your contract very carefully. Someplace in that contract there is a reason they are holding your title - and I believe it should say that if you fail to make the payments on time they own the car. If they own it, they own it. Let them deal with disposing of it. That said, you may well still have to pay off the original loan. But you may want to talk with a consumer credit counceling service to see what they could do to stop the legal proceedings. And they should have information on what the legal limits of these kinds of transactions are.
2006-09-28 05:45:45 · answer #1 · answered by An Oregon Nut 6 · 0⤊ 0⤋
1
2016-09-26 20:12:38 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Please don't sell the car you just think you have problems. If you sale mortgaged property you can be charged with theft of property if it is worth more that 50 dollars you can be charged with Grand theft. You are looking at some serious jail time. Have the car towed back to the place you bought it from or get a trailer and take it back (it is also against the law to take mortgaged property across state lines without written permission) ask them to sell the car and apply that to the balance that you owe and then make regular payments on balance until it is paid for.
2006-09-27 14:34:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you have one real choice here,,pay the loan off or tell them the car is there,s come and get it and if they don't want it they probably will take you to court on the matter,,my friend just wen t through the same thing he lost in court, its a hard battle to Win because in the fine print of the loan agreement it is stated in there no matter what happens you agree to pay the loaner=them the full amount owed to them..they,ll Simply sue you or take some of your pay if your working,,its a bad deal all way around,,good luck i hope this help,s,
2006-09-27 14:36:21 · answer #4 · answered by dodge man 7 · 0⤊ 0⤋
You can't get the title because you don't own the car. They do! You screwed yourself. Welcome to the real world.
2006-09-27 14:34:21 · answer #5 · answered by GUNNSLINGER 3 · 0⤊ 1⤋
pAY IT OFF
2006-09-27 14:27:20 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Please obtain a lawyer. Its not that hard.
2006-09-27 14:34:00 · answer #7 · answered by Anonymous · 0⤊ 2⤋