Insurance Questions

QWhat happens if I don't pay my title loan back?

I will explain more ... I know it can repossess the car. The thing is I need the intake manifold replaced and that will cost at least $ 400, I have not. Someone offered me a small amount of money for the car (I know that the repairs you need) So what happens if I sell the car ? ¿ I can get in trouble for that somehow ? I called the title loan place ( do not say it was me ) that more or less imposed on the situation they said that everything that will happen is that I will never be able to get a loan through your company again. To me, it seems that people can get too easy these places ... charges can be pressed or anything like that ?
This question still have no answer summary yet.
7 answers.
#1gander_wild gooseAnswered at 2012-03-04 22:18:14
Yes, you can get into trouble. The bank owns the car , provided they are leinholder . If you do not pay you will be taken to court if they can not get the car and control it . The court garnish your wages if you do not or can not pay then. Forget trying to deceive the bank. Since the feds took over the banks, the rules have changed and so has the process in the prosecution of individuals.
#2BentonAnswered at 2012-03-13 21:22:48
Yes, you can not dispose of the collateral with the creditor's consent . That is illegal.
#3NickAnswered at 2012-03-13 22:31:50
1 can not sell it , YOU untitled [ unclean ] If I find some idiot to buy that can not register with the DMV
2 is not only that each company VCO credit , the bank gave birth on loans of 5 to 7 years
#4 â¿´ Shang wrong car -Answered at 2012-03-24 04:00:09
If a loan on the vehicle then when the new owner to register that will come up in the system and they can not legally register the car. Is likely to take the car and waste , if the value they receive is not what it should, then they can come after you get the rest of the loan .. while your credit score will take a hit
#5AldrichAnswered at 2012-03-26 03:46:31
400 sounds like theft ,
you should try a junkyard for old cars ,
you can probably sell you for a fraction of that price.
#6JulietAnswered at 2012-03-30 17:16:01
This is not to sell your car unless and until the loan is paid the title. They take the title, and add your name as legal owner. Your friend who " bought" to be repaired , and try to register to manage , and discover that it can not without paying the loan first title.
#7DesireeAnswered at 2012-12-07 17:58:56
so I think I've never gotten this kind of call before / ? ? they will repo gong and the rest of the loan / the other will go after the money I gave you and maybe the law will also fraud as you lied to the buyer that the car owner / doesntcare the loan company they want money
Anonymous Sign In Sign Up
Add Answer of
What happens if I don't pay my title loan back?

Did this answer your question? If not, ask a new question.

Related Answers