Legal Question in Credit and Debt Law in California

Title

I have a personal loan with a car title being held as collaterol. I was unable to make the payments, a garnishment was awarded against my wages and is behind collected. The finance company now holds the title to the vehicle, the vehicle is totaled and needs to be disposed of. The finance company is not willing to take the vehicle stating it is worthless, but, they will not give me the title in order to dispose of the car. Can I take the vehicle to the finance company and leave it their since they hold title? Do I have any recourse to regain the title in order to dispose of the vehicle? The car needs to be moved off the property ASAP.


Asked on 2/21/06, 1:55 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Title

I like the idea of delivering the totalled vehicle to the finance company, especially if you can leave it in the CEO's parking space. Of course, you would need to fully document what you are doing by writing letters CMRRR (Certified Mail Return Receipt Requested) and keeping copies.

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Answered on 2/22/06, 1:44 pm


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