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Registration Loans

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Posts: 1889
Credits: 20252.75
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Any insight into registration loans?
Ace
1 Stop
Speedy
no longer have vehicle




OhioGal1


Debt Samaritan
Posts: 5256
Credits: 83046.746477606

Sub: #1 I saw your PM but I'm going to answer you here. If you don't
Thu, 09/27/2012 - 06:48

I saw your PM but I'm going to answer you here.

If you don't have the vehicle, you're in pretty good shape.

I would simply contact them and tell them you've closed your account and you can't pay them right now. Tell them you're happy to set up a payment arrangement and then set it up on your terms.

The worst they can do right now is send you to collections. These are smaller amounts, right?

I would just pay them when you can.




HelpinAZ

Posts: 1889
Credits: 28808.526946382

Sub: #2 Yes smaller amounts
Thu, 09/27/2012 - 07:23

$1500 each maybe.... They can't attach to another vehicle right only the one on the paperwork?




OhioGal1


Debt Samaritan
Posts: 5256
Credits: 83046.746477606

Sub: #3 No. They can't do anything other than send you to collections o
Thu, 09/27/2012 - 08:39

No. They can't do anything other than send you to collections or sue you.

Offer them a payment plan you can afford and then stick to it.




HelpinAZ

Posts: 1889
Credits: 28808.526946382

Sub: #4 Any chance you think they can arrest me for fraud, since I no l
Thu, 09/27/2012 - 14:29

Any chance you think they can arrest me for fraud, since I no longer have the vehicle in question? I had it when I started the loan, maybe not for all the rollovers or redo's but hey they had the registration all they had to do was check it..I can guarantee that they have made way more on the loan than they originally loaned me... I haven't done the math yet, I am dreading that figure --- that will make me feel really stupid, I am sure it would have been enough to buy at least a used car.... LOL




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