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• 1. W

     Repossessing Collateral from defaulted loan

     Adjuster Jack - Thank you for prompt response. Seems like I'm screwed, but just curious, even though car was specifically listed as collateral securing the Note, because the value of car is too low I can't repossess? I know loan companies repossess cars all the time, are you saying they can only...

     • wfa55555`
     • Post #5
     • Oct 2, 2019
     • Forum: Consumer Contracts, Guarantees and Warranties
  2. W

     Repossessing Collateral from defaulted loan

     I downloaded template, filled in all info, and we both signed and initial all pages in blue ink. Car with VIN are listed in listed in collateral section. Unfortunately I could not take off day she was buying car so I trusted her to put my name as lien holder on RMV-1 form which she promised she...

     • wfa55555`
     • Post #3
     • Sep 30, 2019
     • Forum: Consumer Contracts, Guarantees and Warranties
  3. W

     Repossessing Collateral from defaulted loan

     What is the name of your state? Massachusetts I loaned a friend (ex-friend now) money to purchase a car. Actually, she had already owed me money. However, this time I had her sign secure note for total amount she would owe me car + previous amount and note listed the car as collateral securing...

     • wfa55555`
     • Thread
     • Sep 30, 2019
     • Replies: 5
     • Forum: Consumer Contracts, Guarantees and Warranties