I secured a loan with a vehicle, however due to an error at the bank I was allowed to keep my title. The title shows me as the owner, with no liens. I have fallen two months behind on my payments, and now the company is trying to get me to add them as a lienholder, or relinquish my title. Can they reposess my car while I am holding the no lienholder title? The car is worth very little money - will they go to the trouble to do so? I don't owe much left on the loan. Thanks.
Secured Auto Loan - No Lienholder On Title?
it's not a matter of how much the car is worth - it's a matter of weather or not you want your credit to go down the toilet because of something dumb.
Secured Auto Loan - No Lienholder On Title?
if they screwed up, it's there problem. they cannot take your car. only thing they can do is take you to court and get a judgement filed against you, and maybe garnish your wages. what ever you do, do not put them on your title as a lienholder. they have no legal right to do that now.
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