Creditor won't provide title

[D2SWest]

What is the name of your state? Mississippi

We purchased a truck from one of our suppliers and made monthly payments to that
company. The truck was paid for in full by 12/27/2005. In January, 2006, we
purchased about $11,000.00 worth of supplies from this company but we went out
of business shortly thereafter and could not repay them immediately. We worked
out a payment schedule with them and faithfully make those payments each month.
Our dilemna is that they will not send us the title on the truck and are
using it as collateral for this debt. Can they legally do this and do we have
any recourse?

Thank you,

Debbie

 

[Shay-Pari'e]

Why didn't you get the title in December? More details please.

 

[D2SWest]

We moved shortly thereafter and sent a letter twice requesting the title be forwarded immediately. Thus far, we have received nothing.

 

[JustAPal00]

No they can not hold the title as security for the debt if they are seperate issues.

 

[D2SWest]

Thank you so much for your response. That was my thought but I appreciate the affirmation.

Debbie