Legal Question in Credit and Debt Law in Florida

Promissary note/Truck title.

In Dec.2005 I borrowed mony from my employer for the purchase of a vehicle. We signed a promisarry note stating I would pay them back and hand over the title as collateral*. I paid on it for almost 1 year. I then asked for a balance due and they sent me the title. Now I recently recieved a letter from a lawyer stating that they would like the payment in full or for me to sign over the title. {Note} I would think that someone would hold the title until balancer was paid, so as far as I am concerned the note has been satisfied. Please let me know if I am in the wrong or if I need a lawyer to get involed.


Asked on 11/21/08, 7:54 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Promissary note/Truck title.

if an error was made and a balance is due, pay it.

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Answered on 11/21/08, 11:25 am


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