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What if the lender will not pick up the car?

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2012-09-10 19:54:01
2012-09-10 19:54:01

Call a local towing company to come get it as a towaway.

Right. And face charges for illegally hiding the asset. If the lender will not pick the collateral up, ask where you can deliver it, and do so. If the lender refuses to give you a place to deliver the asset, send the lender a certified letter return receipt requested asking for a place and time to deliver the asset. Send a regular mail copy as well.

Allow a month or two for a response. If there is no response, and they received the regular mail letter even if you get the registered letter back unclaimed, they will have a problem going after you. Be sure to keep copies or originals of all documents.

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The title is only released when the debt or loan is paid in full. If you want the lender to pick up the car, I'm guessing that you can't or don't want to make the payments. The lender can refuse to pick up the car, but, if the debt remains unpaid, they will probably have the car repossessed which will negatively affect your credit rating.

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Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.

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K, you can deliver the car to the lender OR you can look at it. There is a reason WHY they wont pick it up. Does it run? Is it wrecked? Is it worth P/U? I suspect it is NOT. Whatever happens , you WILL pay the balance. Your best option is to make some kind of payment arrangements with the lender. Large or small, send something on a regular basis. Good Luck

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IF and only IF, you are listed on the TITLE as co-owner, you can go get the car. CO-SIGNORS have to let the lender do it their way.


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