Need title for my car

A

Anna3217

New Member
Jurisdiction
North Carolina
I have a car that is paid off. I also have a loan from another car that was never satisfied and the car was returned. Unfortunately I bought a car for another person that didn't pay it in total, and I was not in a position to pay it off. Because of this the bank will not give me the title for the car I did pay off. The car loan I'll come off my credit report in May (7 years since last payment). I asked the bank if I could get my title once it is removed and they said no. Does anyone know if that is correct? Or how I can get my title? I know you are going to say to pay the other car off, but I am not able to and now have a car that is paid but and I cannot do anything with.
 
Pay the other car off - you were making payments on this car, now make them on the new car. Or, sell this car and use the proceeds to pay the old loan.
 
Zigner said:
Pay the other car off - you were making payments on this car, now make them on the new car. Or, sell this car and use the proceeds to pay the old loan.
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This Dude regularly displays the subject of Thomas Paine's greatest literary effort.commonsense.jpeg
 
Anna3217 said:
if I could get my title once it is removed and they said no. Does anyone know if that is correct?
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You have two loans with the same bank for two different vehicles.

You will have to carefully read the loan agreement of your car to see if the bank has a "right of set-off."

That means that the bank can use the terms of one account to enforce the terms of another.

This is common with credit card agreements that allow the bank to pull funds from checking or savings accounts to pay delinquent credit card accounts.

Wouldn't surprise me if your loan agreement has one. But, of course, if it doesn't you can sue the bank to have a court order the bank to release your title.
 

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