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It's been two years that no truck payment has been made and you told the lender to repossess it. They refuse unless you sign a release and you refused to. Why hasn't the truck been repossessed?
Wiki User
∙ 9y ago
The answer is in your question. The lender has asked you to sign a release and you refused. That is likely the least costly way for the lender to take possession of the property that it helped you pay for. You probably agreed to that procedure when you signed the contract for the loan. The lender loaned you money when you asked for it, you failed to pay the money back and you have refused to cooperate in their taking possession of the vehicle. This matter will appear on your credit record.
Wiki User
∙ 9y ago
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