car title as collateral on old debt

by david

I took out a loan with citi financial over 10 years ago and used my car title as collateral. Due to circumstances i was not able to repay loan and it was subsequently wrote off as noncollectable and sold to 2 collection agencies. What are my options on getting title back?

Reply from

We are not sure what your next step is. It sounds like you still have the vehicle right? We'd suggest you contact your state department of motor vehicles to see if you can trace who currently owns the title and then contact them to see if you can negotiate a settlement. Of course, you only want to do this if you can afford to settle the debt.

This isn't our area of expertise, though, so we would suggest you either consult an attorney or perhaps see if your state attorney general's office can provide you with more information.

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