Sticky Situation
Date: Thu, 09/16/2010 - 18:39
Where to begin! I had a repo about 14 yrs ago in VA. They took a judgement out on me that I never paid. It finally caught up to me in NC and now I am making payments to a lawyer's office for Wells Fargo. A month ago, I traded in a vehicle that Wells Fargo has a 2nd lien on. They will not give the dealership the title until the loan is paid in full. I traded the car in thinking that Wells Fargo would be willing to transfer the lien to a different vehicle. They said no! I asked the lawyer if I could make a settlement offer and she said yes. When I told her I only had 20 to 25% of what I owe, she said they will not take that offer. When they look at my financial statement, I owe more than I make. Does this make a difference in their decision? And is there anything else I could do to get the title to the car dealership? I am trying to make this right, but I definitely do not have the full amount they are requesting. And now I have the feeling the car dealership is going to come after me for the amount of money they used to pay off the vehicle. Any help would be appreciated?
Sticky Situation!
Sticky Situation!
You're right. This is a sticky situation. You need to work out
You're right. This is a sticky situation. You need to work out a payoff with the loan company and you need to pay it off as quickly as possible. If you had a lien on your title, the dealership should've seen it but, apparently they didn't. They would be within their rights to come after you for the money they paid for the vehicle, since they've not received the title for it. Is there anyone you can borrow the money from?
