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Is it legal for a company that sold your loan and received cash for it to try to repo your car without contacting the company who now holds the loan?
Wiki User
∙ 8y ago
Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.
Wiki User
∙ 8y ago
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