Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Debt Collections

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 03-18-2009, 11:18 AM
Junior Member
 
Join Date: Mar 2009
Posts: 2

Title Loan


North Carolina. I have a title loan in NC. The loan originated in SC because that was the only place that I could find that would do title loans. After I realized how high my interest rate was, I found someone to take it over. This new company FINALLY has my title after fighting with them for a year and now I need to know if title loans are even legal in the state of NC because I am being told they are not and they have to treat them as a personal loan. Does this mean that they can not come and take my car? I really need to know. i am having a hard time with this company and money it very tight and I can not afford for my car to be taken so I need to know if title loans are even legal or if they can send me back my title since I have not signed it over to anyone they just have it. Please let me know as soon as possible. I am paying on it but money is tight and I pay what I can. Help!What is the name of your state (only U.S. law)?
  #2  
Old 03-18-2009, 01:04 PM
Senior Member
 
Join Date: Jan 2001
Posts: 12,066
What your have is a collateral loan. You put your vehicle up for collatoral to borrow money. It is perfectly legal in your state.
__________________
If you feel my answer is rude, mean, snarky or in anyway not to your liking, I did my job. You don't need to tell me.

No private messages, I do not reply to them.
  #3  
Old 03-18-2009, 01:07 PM
Senior Member
 
Join Date: Dec 2007
Location: Thebes
Posts: 6,087
Quote:
Originally Posted by cccflagirl View Post
North Carolina. I have a title loan in NC. The loan originated in SC because that was the only place that I could find that would do title loans. After I realized how high my interest rate was, I found someone to take it over. This new company FINALLY has my title after fighting with them for a year and now I need to know if title loans are even legal in the state of NC because I am being told they are not and they have to treat them as a personal loan. Does this mean that they can not come and take my car? I really need to know. i am having a hard time with this company and money it very tight and I can not afford for my car to be taken so I need to know if title loans are even legal or if they can send me back my title since I have not signed it over to anyone they just have it. Please let me know as soon as possible. I am paying on it but money is tight and I pay what I can. Help!What is the name of your state (only U.S. law)?
If you default, they can come and take the car if you have used it as collateral.
__________________
Dang the Persephone for eating those pomegranate seeds. It is because of her urge to snack that we must suffer through the winter that will soon be upon us.
  #4  
Old 03-18-2009, 01:14 PM
Senior Member
 
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by Wirelessany1 View Post
If you default, they can come and take the car if you have used it as collateral.
**A: Yup, I seen those big tatooed ruffians on tv towing away cars.
  #5  
Old 03-18-2009, 08:57 PM
Senior Member
 
Join Date: Jan 2004
Location: IN
Posts: 1,171
Quote:
Originally Posted by HomeGuru View Post
**A: Yup, I seen those big tatooed ruffians on tv towing away cars.
Hey, Matt and Froy are ruffians!
__________________
Originally Posted by cbg
Quote:
Just because you see it on Law and Order doesn't mean that's the way it works in the real world. They have a script.
Originally posted by Rushia
Quote:
I'm not an attorney either, I just know a whole lotta stuff.
  #6  
Old 03-19-2009, 11:18 AM
Member
 
Join Date: Sep 2007
Posts: 109
Quote:
Originally Posted by Indiana Filer View Post
Hey, Matt and Froy are ruffians!
Matt and Froy are hilarious. The episode where Matt really, really had to go to the bathroom and ended up dumping the repo had my husband and I rolling.

Sonia scares us to death. She is frightening.
  #7  
Old 03-19-2009, 02:14 PM
Junior Member
 
Join Date: Mar 2009
Posts: 2

Title Loan


No what I have is a title loan weather it is collateral or not it is still a title loan and is not leagl in this state. Title loans are not legalized, I was told is is loan sharking and they can not do it. They would have to use my loan as a personal loan not use the car. They just don't call it title loans so they can get away with it? I highly doubt that.
  #8  
Old 03-19-2009, 02:19 PM
Senior Member
 
Join Date: Jan 2005
Posts: 21,693
Quote:
Originally Posted by cccflagirl View Post
No what I have is a title loan weather it is collateral or not it is still a title loan and is not leagl in this state. Title loans are not legalized, I was told is is loan sharking and they can not do it. They would have to use my loan as a personal loan not use the car. They just don't call it title loans so they can get away with it? I highly doubt that.
Ahhh, so you knew the answer already?
Why are you here again?
__________________
*
*
The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision.

Communication is KEY - 10 mins of talking now can save you months of headaches later!

Masterfully stating the obvious to the oblivious! (Thanks SP!)

Tell it like it is! When all else fails, make up a statistic!

Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to)
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 03:32 AM.



IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.

F
reeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.