Legal Question in Credit and Debt Law in Georgia

I had a title loan and defaulted over two years ago. At the time I defaulted on the loan I advised the title pawn place exactly where the car was located so that it could be reposed. I was informed by the lady in the office at the time they would not repo the car because it was not worth it to them. I still thought after a few months that someone would come for the car. I know it was not the most financially responsible thing to do but at the time it was my only option on a car that was not running and I paid the monthly payment for as long as I could. Now two years later I still have the car sitting out front. I want to junk the car simply to get rid of it but I know the title is not clear and the title loan place seems to have no interest in getting it. While I an doing a little better financially I still do not have a lot of spare cash and can not afford to pay the title loan place off. Are there any other options? I am not looking to make any money off the car I just need it to be gone.


Asked on 12/15/15, 11:34 am

1 Answer from Attorneys
Rachel Hunter

The car lender or pawn title does not have to repossess the car. If the car is just junk, then you do not have many options. If you want to get the title then you are going to have to resolve this. How much do you owe? How much do you have?

How much is the value of the car if sold to a junkyard?

Whenever you have about 50% of what you owe, I would contact the pawn title office and tell them if they release the title you will pay 50% of the balance (confirm what the balance is - just in case they have added fees) in a lump sum by a given date IF they release the title to you. If they agree, get the deal in writing BEFORE you pay.

If they want a little more, find out how much more . Depending on the value of the car, maybe you can get the junkyard involved as well such that you pay $xxx, the junkyard pays $$ and the car title releases the title to the junkyard (you are there and sign off on it).

If the lender wants more you have to keep saving until you have the amount. Try again when you have 60% of the balance, then 70%, At some point in time, they are going to accept less than 100%. You already know the lender does not want your car. So keep asking them and do not take no for answer. The longer this goes on the more desperate they will get. I know you want to get rid of the car, but that is the only way. Other than, be your own junk man and start selling parts that are useable - tires, steering wheel, engine. You never know - maybe you can even advertise the car for sale yourself. Sometimes someone is looking for a car like yours - for example, my transmission went on my car. It was not worth much but a kid had a car just like mine that he wrecked so the body was no good but the transmission was. He bought my car and was going to pop in the transmission from his car. Maybe someone will want your car and again, with what you have saved and what the car is worth will be enough to satisy the lender. Again, you can do a three-way transaction where you and the buyer go to the car lender, you pay, get the title and sign it over to the buyer so he/she can record.

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Answered on 12/15/15, 10:48 pm


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