Legal Question in Bankruptcy in Maryland
Credit Union refuses to release title to auto.
Dear Sirs;
In Feb. 1998 I filed personal bankrupcy (chapter 7). A 1992 Ford Ranger Truck was exempted. Six months later the truck loan was was payed off. When I asked to have the title released the local Credit Union said that it would not be released it until I satisfied a personal loan (credit card included in the bankrauptcy) .
My attorney has said that they can't do that but has done nothing to obtain the title for me. Despite numerous calls to the credit union requesting the title which have all been fruitless. Is there are easy way to obtain the title without further legal action.
Sincerely,
--name removed-- --name removed--
1 Answer from Attorneys
Re: Credit Union refuses to release title to auto.
Many credit unions cross-collateralize their loans, meaning that your security agreement on the truck says that it also secures other loans. Your lawyer needs to take a close look at these documents and see whether the cross-collateralization is valid in this situation.
Daniel Press
Chung & Press, P.C.
6723 Whittier Ave., Suite 302
Related Questions & Answers
-
Landlord & Tenant in Bankruptcy I am a landlord. My renter is declaring... Asked 1/12/99, 5:42 pm in United States Maryland Bankruptcy Law
-
Loans--are they dischargeable? i would like to know whether subsidized and... Asked 12/19/98, 11:31 am in United States Maryland Bankruptcy Law
-
Attorney Abandonment/Double Cross Attorney who I retained 30 days ago to represent... Asked 11/25/98, 7:12 pm in United States Maryland Bankruptcy Law