Legal Question in Banking Law in North Carolina

I have an auto loan with wells Fargo. I have been out of work for some time now and not able to make payments. I just did get work and told them as soon as I get paid I would send a payment in but there telling me the loan will be charged off in 7 days before I get paid. They also said I would not be able to get a title even if I pay what I owe ones the charge off happens. What can I do?


Asked on 3/02/13, 4:18 pm

1 Answer from Attorneys
Kenneth Love Ken Love Law

The last statement provided to you by Wells Fargo is false. If you pay off the loan, you get the title to the vehicle. It is against the law for a creditor to be paid off and not cancell the the lien on the title within 10 days after payment.

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Answered on 3/02/13, 9:55 pm


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