Loan Company Threatening

by glenda
(rome ga USA)

I made a loan at a loan company and listed my furniture as collateral but now they are saying i put my car up i did not give them the title nor did they ever mention my car, they only ask me what kind of car i drove, never did they ask me to put it up.

I am out of a job and I can't pay now but I have a very good prospect of a job and I told them I will pay them as soon as i get my first pay check. this is not good enough for them. I need advice the car is in the garage with a blown motor and i am getting it repaired. what can they do? what can i do?

Comments for Loan Company Threatening

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Jun 28, 2011
 Car as Collateral for Loan?
by: DebtCollectionAnswers.com

Do you still have the loan documents you signed? Either one of two things is happening...you either signed papers agreeing to pledge your car as collateral, or they are making that up in an effort to pressure you to pay. (It's doubtful that they want your car that isn't even running, but you never know with these guys.)

Since you don't believe you pledged your vehicle as collateral, and they are threatening you with repossession, we would recommend you talk with a consumer law attorney to find out if their threats are legal.

You can talk with a consumer law attorney with experience in debt collection cases. Learn how to get low cost or FREE legal help with your debt collection problem here.

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