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Home > Ask The Get Out of Debt Experts > I Took Out a Cart Title Loan With Lone Star Loans I Can’t Afford to Pay Anymore. – Nancy

I Took Out a Cart Title Loan With Lone Star Loans I Can’t Afford to Pay Anymore. – Nancy

“Dear Steve,

CAR TITLE LOANS – IS MONEY YOU BORROW – BUT THE 2500 I BORROW – I’M STILL PAYING ON IT ABOUT 5,000 I PAID – NOTHING GO THE PAYMENT LIKE A REGULAR CAR LOAN -THIS IS NOT A REGULAR CAR LOAN…..

I HAVE A LOAN W/ LONE STAR LOAN – CAR TITLE – I BORROW 2500 – PAID 5,000- I CAN’T PAY THIS LOAN – I’M LAID OFF – WHAT CAN I DO?

Nancy”

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The Answer

Dear Nancy,

Can you please tell me more about this loan? It sounds like you pledged your car as collateral for a short term loan. If you now owe double the amount I think you may have not paid off the loan by the first due date and instead have rolled the loan forward or extended the length of the loan. Is that correct?

If the contract is valid and the amount due is in accordance with your state law and the contract the best course of action is going to be for you to negotiate a solution with Lone Star Loans. If you have a valid contract, unless you can exercise your ability to negotiate a solution with them, continue your agreed payments or pay the loan off in full you risk the repossession of your car.

You can seek advice on the contract from a local attorney licensed in your state.

When it comes to car title loans, if you default they take your car.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

I Took Out a Cart Title Loan With Lone Star Loans I Cant Afford to Pay Anymore.   Nancy
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I Took Out a Cart Title Loan With Lone Star Loans I Can't Afford to Pay Anymore. - Nancy by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Phyllis Bruton

    I have a loan with your guys in Greenville, TX. I am behind with my payments but they keep calling me  several times at work which is against the law. I am a day sleeper and I have asked them to call me after 4 pm but they insist on calling me at other times. I have asked them repeatly not to call me on my job and now I found out they have called my supervisor at home.

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