Legal Question in Banking Law in Alaska

I work with Arizona Federal Credit Union (AZFCU), which I have three seperate car loan and a line of credit. I have had one vehicle repossed, paid another off and owe $ 3200.00 on the final car loan. The credit line I owe $500.00. The final vehicle loan is current & the line of credit is current. AZFCU is refusing to lift the lien on the paid off vehicle. They indicate that since they are a credit union, they have the right to do this. Is that true? Do I have any recourse to secure a clear title on the paid off vehicle?


Asked on 5/27/11, 6:19 pm

1 Answer from Attorneys
Terrence Thorgaard Thorgaard Law Firm

Is the vehicle titled in Arizona? If so, the validity of their lien would be determined by Arizona law, not Alaska law.

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Answered on 5/28/11, 11:27 am


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