Wednesday, May 26, 2010

I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what

what can they do if i dont pay them back?



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

repo the car . . .give you a bad credit report . . .send the hell hounds after you.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

repossess the car



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

If you signed a loan agreement, they will take to court and if there is any mentioning to the car, they maybe able to take the car away



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

why did they give you the title? Has it been transfered to your name? If yes, then they would have a hard time proving that you never paid them off and therefore they relenquished the title- sounds like bad buisness on their part. That said, it is unethical and would be theft to simply keep the car and not pay for it. Is that the way you want to live your life, taking things you have not earned or paid for? make some sort of arrangements with him to do this the right way, not nearly as fun, but the right thing to do. He knows you just got laid off, going to have to extend a little flexibility. Good luck.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

Chances are the title has a box with %26quot;First secured Party%26quot;



with your %26quot;works%26quot; name in the box. that means it has a lean on it from your work and you do not out right own it and can not sell it until they sign off. They will not sign off until they have been paid in full and can come and get %26quot;Their%26quot; car when you default on the agreed payments.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

Look your title over carefully. It probably says there is a lien on it.



Sorely you aren't thinking of not paying your debts.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

Revisit the contract you have with your employer pertaining to this Car Loan transaction. I'm sure all the terms and conditions are spelled out in that agreement.



This agreement is still binding regardless of your employment status. It only expires when the car loan has been fully settled.



Your employer acted as your loan financier. If a payment contract exists, (which I am certain it does exist) non-payment for a certain period would constitute a violation of the contract. The Financier reserves the right to call for property repossession equivalent to the value of the loan, interest, and penalty and other legal fees inn case. Plus the fact that your credit reputation in public will be ruined as a result.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

Take the car as payment and mess up your credit if you dont find away to pay for the car.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

not a thing in the end if you have the title to the car and you and only you are on the papers than there is nothing they can do



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

title means noth if they have lien......................



you owe they can repo or else.........



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

They can sue you for it. If they are not listed as leinholder on the title, they'll have to go to court to prove you owe them the money before they can reposess the car.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

Hopefully you have the title, since a lender can't legally hold title until a loan is paid. They can however list themselves as legal owner, which I assume they did?



At any rate, if you have a loan with someone and don't make the payments as promised, you can be sued for the balance, and it they prevail in court, any assets you have (not just limited to the vehicle) can be attached to satisfy the judgment.



I have a car loan with my employer $ 19000 i just got laidoff and i have the title for the car what can thay d

You may have a title or a copy of it,but like the others said, there is probably a first party lien on it.You may be able to work something out with them as far as paying them back.Most likely they would rather have their money more then the car back.If it is a loan of any kind,then there is a contract.Whether it shows the car as collacteral or not, you owe them.So it would be either pay them back,or they can sue you.

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