Cannot Pay My Title Loan

I live in the state of Wisconsin and took out a title loan in the end of 2010. After some eliminations at my place of employments I was unable to satisfy this debt. I tried to work with the company but they wanted all their money upfront. I am also married and my husband was never notified of this loan. Isn't that illegal in Wisconsin?

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Sep 08, 2011
Cannot Pay My Title Loan

The company who loaned you the money may not feel especially motivated to work with you because if you don't pay what you owe, it can take your car. Can you afford to offer the company more than you have so far?

As for whether the company was legally obligated to notify your husband about the loan, that is a matter of WI law and something you should ask an attorney in your state. By your question I assume you did not talk with your spouse about whether you should get the loan before you applied for it. That was not a good decision given that you were putting your vehicle at risk.

If you need your vehicle to get to and from work or to drive to job interviews, I recommend you contact a bankruptcy attorney ASAP to discuss your financial situation. You may be able to use bankruptcy to reduce the total amount you must pay the title loan lender in order to pay off the debt although you will not be able to eliminate the debt by filing. Also, up until when your bankruptcy begins you remain at risk for having the lender take your car. Go here for
a free consultation with a bankruptcy attorney.

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