Can I Get a Title Loan While in Chapter 13?
Taking a title loan while your Chapter 13 is active usually needs trustee permission first – and the car you’d pledge may be the plan’s own protected asset.
title loan
A Title Loan Company Took My Car. Here’s What to Do Right Now.
A title lender just seized your car? Get your redemption payoff, your personal property back, and know your state’s deficiency rules before the sale.
TitleMax: When It Helps and When It Hurts
Quick Answer: TitleMax hurts consumers through predatory lending practices, as the CFPB found the company violated military lending laws by charging interest rates nearly three times the legal 36% cap. The company must pay over $15 million in penalties and consumer relief for illegally targeting military families and charging unlawful fees. Today, the Consumer Financial …
Title Max Loan: What It Means and What to Do
Quick Answer: A Title Max loan uses the borrower’s vehicle as collateral, and the lender isn’t required to repossess non-functioning cars. Filing Chapter 7 bankruptcy can eliminate the debt in about 120 days, though title complications may remain even after discharge.Question:Dear Steve,I took a loan from Title Max, and I’ve been paying the interest with …
Montana Capital Title Lien After 1099-C: What Now?
Quick Answer: A 1099-C cancellation of debt form does not automatically remove Montana Capital’s lien from the vehicle title, as debt forgiveness for tax purposes is separate from lien satisfaction. The lien can only be removed by court order or when the creditor formally indicates the lien was satisfied with the state.Question:Dear Steve,I took out …
Title Loan While Homeless: Myth vs Reality
Quick Answer: Getting a title loan while homeless is extremely difficult since legitimate lenders require proof of income and stable housing. Without employment, the borrower faces almost certain vehicle repossession, making finding any job the most critical first step to potentially saving the truck through Chapter 13 bankruptcy protection.Question:Dear Steve,I need help paying off my …
Chapter 13 and Title Loans: Myth vs Reality
Quick Answer: Title loans must be included in Chapter 13 bankruptcy repayment plans, and if the lender didn’t file proper paperwork, the debtor should contact their bankruptcy attorney to resolve payment issues. The title will be released once the loan is satisfied through the Chapter 13 plan and discharge is completed.Question:Dear Steve,I filed chapter 13. …
TitleMax Title Loan: Is Walking Away Legit?
Quick Answer: Stopping payments on a TitleMax title loan will likely result in vehicle repossession, but won’t directly impact credit scores since title lenders don’t report to credit bureaus. However, surrendering the vehicle may not eliminate the debt if the car’s value doesn’t cover the remaining loan balance.Question:Dear Steve,TitleMax loan 10/2019 for $1100. After the …
ACE Cash Express Car Title Loan: Myth vs Reality
Quick Answer: ACE Cash Express title loans create liens on vehicle titles that remain valid even after accounts fall off credit reports or go to collections. The borrower cannot legally transfer or junk the car until the lien is removed by paying the balance, negotiating settlement, or filing bankruptcy.Question:Dear Steve,In 2012 I got a title …
Title Loan Bankruptcy: Myth vs Reality
Quick Answer: Yes, bankruptcy can discharge multiple title loans on the same vehicle, and Federal Reserve research shows bankruptcy filers recover financially faster than those who don’t file. The non-running 2014 Chevy Spark with three title loans can likely be surrendered through bankruptcy for debt relief.Question:Dear Steve,Can I file a bankruptcy with multiple title loans?I …
