Legal Question in Credit and Debt Law in Texas
Title on Auto Stamped Released
I received my Promissory Note stamped Paid-in-full and the Auto Title stamped released from my credit union. This was a gross mistake on their part due to the fact that the car note is not paid in full.
Ethically I probably should return the documents but what are my legal options? Since I hold the released title and paid-in-full promissory note, do I need to continue to pay? Should the Credit Union take a losss due to their mistake?
Exactly, what are my legal options?
1 Answer from Attorneys
Re: Title on Auto Stamped Released
The credit union will not take a loss and you could ultimately be responsible for accrued interest until they discovery their mistake. The most economical as well as ethical thing that you can do is to point out to them their mistake. Legally, the debt is unpaid and that could be proven by their accounting system; then they could ask you to prove that you paid the account - which of course you couldn't.
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