Best Answer

If you have a receipt for the payment and the release papers from the bank I don't see the problem. Have you gone in to talk to the bank. Is the bank still listed as lien holder on the title?

AnswerTell the bank to prove it. If they can't, forwarn them that you charge $100.00 for a processing fee to provide records that they are unable to maintain. Don't let poorly organized banks cause you any grief for their lack of competence.
User Avatar

Wiki User

โˆ™ 2011-09-13 10:24:14
This answer is:
User Avatar
Study guides

Create a Study Guide

Add your answer:

Earn +20 pts
Q: What do you do if your finance company contacts you to tell you that you still owe money on a car you have paid off and you have the title for?
Write your answer...
Related questions

I am thinking of buying a car from a seller who still has loan payments. How can i be sure i will get the title from him after i pay the finance company?

Go to the bank or finance company and tell them what you are doing. Don't give the seller any money untill you have worked it out with the finance company.

How do you find out if the owner still owe a finance company on the car you are buying?

how do you find out if the owner still owe a finance company on the car you are buying?

Can you cash a check written to you by your insurance company for a car that was totaled but still has remaining payments on it to a finance company?

Sure you can, but you're still responsible for paying off the loan to the finance company. If the check will cover the pay-off, give it to the finance company. If it doesn't, give it to them, anyway. It'll reduce your debt by that much.

Can you be sued if you let your mobile home be repossessed?

You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.

What if the finance company cannot get to the car?

They will....eventually. Regardless, you still owe.

What happens if the car gets stolen and its still on finance?

You will still owe the finance company the balance of your finance note. Hopefully you have full coverage insurance. If you do have full coverage, the Comprehensive portion of your policy will generally pay off the finance company up to the insured limits (usually the remaining market value) of your insured auto.

Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?

no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it

What does the finance company do when a car is totaled and there is no collision insurance?

If the driver was uninsured or only had liability insurance, they would be liable to still pay the finance company back or face a lawsuit.

Can your finance company put a hold on car registration if you still owe money?

No of course not car registration is the state that has nothing to do with your bank or lender one has nothing to do with the other

Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?

You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.

What happens if you have a clean title and loan is secured can finance company still repossess?


What happens if you part out a financed car?

You still owe the finance company the balance owed.

If you Co-sign auto loan and the person defaults on the loan- can the finance company take your house?

No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.

How long will a finance company still try to repo a car. I moved 3 years ago and they coulcn't find it. Will they still try to repo it 3 years later or would it be a judgment against me for money?

The lien is still valid, so yes, they can repo it.

Your car has been written off by your insurance company but you have decided to buy the car back and repair it however you will still owe 2000 pounds to the finance company where will you stand?

Your car has been written off by your insurance company but you have decided to buy the car back and repair it however you will still owe 2000 pounds to the finance company where will you stand?

Can a vehicle finance company repo your grand fathers car if he dies?

yes, if he still owed money on it; then yes, they can take it. It doesn't belong to your grandpa until it's paid off and he has a title.

You have a used car that broke down i month after you got it you want to voluntarily repo the car but the finance company doesnt want it because it doesnt run what can you do you owe 1700 on it?

There is no such thing as a "Voluntary Repo". You borrow money to buy something , you owe the money period. If you turn the item over to the bank or finance company it doesn't take you of the hook. The bank or finance company will auction the car and you will still be responsible for the difference in the amount it sold for and the amount you owed, plus handling and fees. Even then you credit is still shot to He-- . It is not the finance companies problem that the car broke down . Your beef would be with the dealer you purchased it from. I suggest you continue to make your payments and work hard to repair the car so you can get some use out of it.

Can the owner legally abandoned the car in the towing company?

If you no longer owe on the car and own it free and clear then it's your choice. You can pick it from the towing company or not. After a period of time, the towing company will place a lien on the vehicle and take ownership. If you still owe money on the car then you have a contractual responsibility to protect the vehicle from liens and you will still be responsible to pay what you owe to the finance company.

Do you still owe if you finance a car and the finance company goes bankrupt?

Yes, legally you owe them the money which they will still bill you for monthly. However, they will only stop lending they will not forgive your debt. They have that in there bankruptcy which when finalized will be bought by another institution. Ex. When a bank files bankruptcy they sell all of their loan notes for a cash settlement to another institution. Which helps them payoff outstanding debts owed by the company. You will not get out of paying for your car.

How can you sell your car even though you still have to pay it off?

Legally - you can't ! Until you've made the last payment - the car still belongs to the finance company, not you ! When you buy a car on HP, the finance company effectively buys the car on your behalf. They pay the seller, and recover the money from you. The car only becomes your exclusive property on completion of the final payment !Having said that - some garages will buy HP cars. They pay the finance company the remaining debt - the garage takes a percentage - and you get what's left.

Can a company make you pay the balance on a car if insurance do not cover it all?

Yes, You still owe the balance of any note owed to your Finance Company.

Comsumer finance company from 1956 I have a 5000 dollar bond from Consumer finance company dated 1956 Does it still have a cash value?

Sorry Consumer Finance Bonds ended their cash value in 1978 and have a 5 year grace period for redemption. Thus you had until 1983 to "cash in" sorry!

Can I still purchase another vehicle if I voluntarily repo my current car?

It may be alittle tough to find a finance company to finance the vehicle but you should be able to with some cash down.

You still have finance on your car but like a new car how can you do this?

The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.

When you still owe money on a car and it is totaled who does the insurance company pay the money to?

The language changes depending on where you live. If you borrowed directly to buy the car the Bank or Finance company will Be registered with your insurance company and they will be paid. If there is money left over you will get a check from the bank or the insurance company depending on what lender and where you live. If you went to the local title loan place you may be paid direct but if you don't pay the title loan guys they can both sue and charge you with fraud.