Legal Question in Real Estate Law in Virginia

Car loan

I signed a promisory note for a loan on a car. This was one of those pre-approved checks for a certain amount of money to buy a car, but I think it did have a promisory clause on the check. The seller must have deposited the check because they said the check cleared so the car was mine. The bank has taken over a year to send me my first payment. Paperwork might have been lost. I'm not sure of what happened. They were suppose to send the loan paperwork in the mail, but I never received it. I've asked the bank about the loan and they said they know nothing about it until this week when they left me a message about the car loan. What am I responsible for? Is there some sort of time frame that the bank needs to be responsible enough to send appropriate paperwork for me to sign and start the repayment process?


Asked on 8/24/06, 9:11 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Car loan

You are reponsible for paying the loan which has apparently taken a year to process. (And, no, the car would not be yours without first paying off the loan merely because there's been a delay in proceesing the paperwork.)

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Answered on 8/25/06, 3:20 pm


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