Tree fell through the back of car – window and roof destroyed, but would like to sell the car or perhaps donate it to charity – it still runs or could be used for parts.
Finance company charged my car off as bad debt. How can I get title?
10
Mar
Mark A
March 10, 2010 at 6:53 pm
Technically, I believe the car is still the property of the finance company. What you need from them is a release that says they have no further financial interest in the vehicle. They may also release the title to you. If you can get the release, you can probably get a replacement title without a lean. You haven’t mentioned an insurance company in your question. If they paid a claim to the finance company, the car is legally theirs. Good luck!
vincent c
March 10, 2010 at 6:58 pm
its not your car, the ins co gets to sell it for parts
bostonianinmo
March 10, 2010 at 7:14 pm
Pay off the finance company. You can’t even junk it without a clear title.
The fact that the finance company charged off the debt as unrecoverable doesn’t affect their rights to the vehicle; it’s an accounting procedure that allows them to take a bad debt expense, that’s all.