Prommissary Notes

[t1dreams]

Here is my Delimma my bank is asking me to resign my original prommissary notes on both of my new cars. Do I have to do this or what are my rights. If i refuse or decide to stop paying do they have legal grounds to repossess the vehicles due to not having this? If I decide to stop paying how can i fight to keep my cars?

 

[seniorjudge]

Why are they asking you to sign new promissory notes?

 

[t1dreams]

They are sayinmg they dont have one in there files. Thats not my fault why should i re do it.

 

[seniorjudge]

I would want a written statement from the bank saying that the terms were not changed AND that if the other notes are ever found that they are void.

 

[t1dreams]

What if i decide to not do this. What rights do i have? What leg does the bank have to come after me. What happens if i default under a bankrupcy they dont have any papaerwork to make claim other than the draft check cut for the vehicles.