bank in france question

[monta299]

What is the name of your state (only U.S. law)? Florida
I had a lien on a vehicle from a bank in France while I was station overseas. I was obligated to pay the lien before returning back to the U.S. and to bring the vehicle with me. I have the certificate of title already for the vehicle but I received an email from the bank, which I confirmed by call that I owe $7000 on the vehicle, which is not true. Could the bank still issue a reposition for my car even if I have all the paperwork stating I own the vehicle and paid the balance off before departing?

 

[Mark Maroon]

What is the name of your state (only U.S. law)? Florida
I had a lien on a vehicle from a bank in France while I was station overseas. I was obligated to pay the lien before returning back to the U.S. and to bring the vehicle with me. I have the certificate of title already for the vehicle but I received an email from the bank, which I confirmed by call that I owe $7000 on the vehicle, which is not true. Could the bank still issue a reposition for my car even if I have all the paperwork stating I own the vehicle and paid the balance off before departing?

Did you pay the lien/loan off completely before you returned to the US with the vehicle? Do you have the paperwork to prove it? If so, then why don't you simply send that information to the bank so that they can confirm your position and admit that they are wrong about you still owning them $7000? In other words, why do they think that you still owe them $7000, and why do you think that it's not true?

You say that you have the title to the vehicle. Who is listed on the title as the vehicle owner? Is it ONLY you, or is the bank that loaned you the money to purchase the vehicle also listed on the title as an owner of, or lien holder of, the vehicle?

I don't know for sure, but I think that if you are the only owner listed on the title to the vehicle, then you own the vehicle free and clear of any bank/lender. I could be wrong, but if you own the vehicle free and clear, then I don't think the bank/lender can "repossess" the vehicle (I think if they did, then they would be in essence stealing your vehicle, not "repossessing" their vehicle).

But even if you own the vehicle free and clear, and the bank/lender can't "repossess" the vehicle, that doesn't mean that the bank/lender can't sue you for failure to pay what they believe you own them on the loan. If they did that, and they got a judgment against you, then they could collect the judgment from any of your assets (for instance directly from your bank account, not just by "repossessing" the vehicle).

 

[monta299]

Mr. Maroon, thanks for responding back to my post. I did send the back the information showing that I had paid the balance off with the loan department signature and stamp. I am the only one listed on the title as the owner and no lien is listed at all. the bank does not have a stateside bank at all.

Did you pay the lien/loan off completely before you returned to the US with the vehicle? Do you have the paperwork to prove it? If so, then why don't you simply send that information to the bank so that they can confirm your position and admit that they are wrong about you still owning them $7000? In other words, why do they think that you still owe them $7000, and why do you think that it's not true?

You say that you have the title to the vehicle. Who is listed on the title as the vehicle owner? Is it ONLY you, or is the bank that loaned you the money to purchase the vehicle also listed on the title as an owner of, or lien holder of, the vehicle?

I don't know for sure, but I think that if you are the only owner listed on the title to the vehicle, then you own the vehicle free and clear of any bank/lender. I could be wrong, but if you own the vehicle free and clear, then I don't think the bank/lender can "repossess" the vehicle (I think if they did, then they would be in essence stealing your vehicle, not "repossessing" their vehicle).

But even if you own the vehicle free and clear, and the bank/lender can't "repossess" the vehicle, that doesn't mean that the bank/lender can't sue you for failure to pay what they believe you own them on the loan. If they did that, and they got a judgment against you, then they could collect the judgment from any of your assets (for instance directly from your bank account, not just by "repossessing" the vehicle).