Legal Question in Bankruptcy in Georgia
When I filed for bankruptcy (Apr. 09), one of the debts that I submitted was a title loan for $300. When all was said and done, the Title loan was showing $0 balance. We assumed that they didn't respond to the bankruptcy. I called them today to find out how to get my title, since they didn't show up for the hearing. They said that it must have gotten missed, and that if I wanted to get the title, I would have to pay the remaining balance. Is this legal for them to hold my title?
Asked on 5/24/10, 11:51 am
1 Answer from Attorneys
Jennifer Jakob-Barnes
Jakob-Barnes Law Firm, LLC
A title loan is a secured debt. For you to keep property that is secured, you have to pay for it. The title belongs to the creditor. The creditor can keep the title until the balance is paid off.
Answered on 5/25/10, 12:28 pm
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