Chapter 7 - Title loans
Where on the form are title loans entered, and will the title loans take the vehicle if it is in need of an engine. and can those parts of the forms be amended, and what is that process? HELP
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Title loans are Secured loans, so you would list them on your schedule of secured creditors.
Yes, you can add these or amend your schedules as needed... -
title loans
if the vehicle need a lot of work would the title loan co take the truck, it is a 96 exployerComment
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It doesn't matter if the vehicle needs a lot of work or not. I'm sure they didn't give you full KBB value for the vehicle as if it were in excellent condition. You put it up as collateral for a loan. Now you're defaulting on the loan. Yes, they can certainly take the title.Comment
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Your asking us to comment on the internal policy of a title loan co.
They have the absolute legal right to repo the vehicle when you default on the title loan.
As to whether they actually will, who knows. The interesting question is, what was the vehicle's condition when you took out hte title loan. If it needed a lot of work at the time you took out the loan, I imagine on the title loan application is has you check off some sort of box concerning the condition of the vehicle, if you lied, then you probably committed fraud.Comment
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