I live in Arizona, PDLs are no longer legal so they switched to title/registration loans. I am confused as to how they can make a title loan on those that do not have a clear title?
I have called and asked my registration loan company how this works and they can't or won't give me an answer. I am told by my BK lawyer that because it is secured with my car title that I can't put the loans in my BK, but the amount I have to pay each month can't be figured into the means test, so they show that I have more money than I actually do.
I just want out of this cycle without losing my car. What would be the best course of action at this point.
Debt Samaritan
Posts: 5223
Credits: 71531.416580171 Send message to OhioGal1
They're likely giving you a loan based on your equity in the car. Are they holding your title or adding themselves as a lienholder?
I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.
Debt Samaritan
Posts: 16538
Credits: 289061.59415937 Send message to SOAPLADY
From what I was just reading, you are stuck with them. Wait for our bankruptcy expert to chime in.
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
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