steve0219

So my ex wife stopped paying for her vehicle, which we both were co-signer's on. She dropped the vehicle off at my home today, and they picked it up this afternoon. But I have a couple of questions. 1. I live in Texas, and per the state laws, the creditor has to secure the loan with a lien. But when I renewed the registration on the car, they stated their was no lien on the vehicle. Per the law, they must have this lien, to reposes the vehicle. Should I go to the DMV, to see if there is a lien on the title? 2. The finance company (Excel) notified me of the repossession in a text message. Yes...a text message. I never received any notification of failure of payment, even though the address on the account was my home. 3. What should I expect going forward. I am assuming they must notify me of the sale, and then the amount that they sell the car for. What else should I expect? What happens if they do not send this info? Thanks for the help and advice in advance.

Bump

Well maybe I need to give some more info on this. I had 2 seperate loans. 1 thru Salle Mae, and the other was with the school directly. The paperwork I filled out stated the colleges name, and I paid them directly, not another company. They have never reported to my credit report, well until now of course. On the paperwork from Insturment, it states the college name, not a loan company.

I went to school in 2007, and the school offered a private student loan that was paid directly to the school. I finished school, and defaulted on the loan in September of 2007. I just received a letter today from a company by the name of Immediate Credit Recovery. They are showing a balance of 11381.25. I don't know if SOL applies to this loan, or how to handle it. I had contacted the school over 2 years ago about it, and they stated they had no record of my account, which I thought was weird. Can someone give me some insight into how to handle this situation.

I also had a very negative experience with USAA. I'm sorry that you are going thru all of this, but justice will prevail. Stick to your guns, and don't back down from them.

I am not going to do a dang thing on this. If they don't want to protect themselves, why should I try to fix it for them. I am not planning on doing anything stupid, just want to make sure that they are not going to just show up one day knocking.

I read the entire contract, and no where does it state anything about additional documents, or needing to sign for the lien. So I contacted them about it, and all I got was the run around, and transfered 5 times. By the end, the person had no clue what I was talking about, so I just hung up. Hey if they don't care, why should I?

I think this is what you are looking for: § 501.113. RECORDATION OF SECURITY INTEREST. (a) Recordation of a lien under this chapter is considered to occur when the county assessor-collector: (1) is presented with an application for a certificate of title that discloses the lien with tender of the filing fee; or (2) accepts the application. ( For purposes of Chapter 9, Business & Commerce Code, the time of recording a lien under this chapter is considered to be the time of filing the security interest.

I am in Texas, and Excel is a subprime lender out here. I will give them a call, and see what they say.

So I purchased a car back in August of this year, and financed it thru Excel Auto Finance. I had to register my car this month, and the DMV is telling me that there is No lien on my vehicle, and that the car is free and clear in my name?? Isn't the finance company required to file a lien on the vehicle?? What happens if they don't. The DMV told me to file a lost title, and they would reissue it out to me. But I don't want to create an unpleasant situation for myself. Any recommendations on what to do?

APPROVING BANK - Excel Auto Finance BUREAU PULLED - Experian CREDIT SCORE - 543 CUSTOMER STATE OF RESIDENCE - TX NEW/USED Used YEAR OF VEHICLE 2008 MILEAGE 57000 RETAIL/LEASE Retail AMOUNT OF LOAN $13,820 ADVANCE PERCENTAGE - 80% TERM CONTRACTED 48 Months APR/LEASE RATE 16.95 MONTHLY PAYMENT $420 MISCELLANEOUS COMMENTARY - Have a ton of charge offs, and 1 repo (Paid off). Could have purchased a more expensive car, but I am happy with my new car.

APPROVING BANK: Chase Auto BUREAU PULLED: Transunion CREDIT SCORE: 606 CUSTOMER STATE OF RESIDENCE: Texas NEW/USED: Used YEAR OF VEHICLE 2008 MILEAGE 24k RETAIL/LEASE Retail AMOUNT OF LOAN 26400 ADVANCE PERCENTAGE 89% TERM CONTRACTED 60 Months APR/LEASE RATE 13.5% MONTHLY PAYMENT 535 MISCELLANEOUS COMMENTARY: Very happy with the rate, especially with my score at the time. Chase called and within 30 minutes, the dealership called and said everything was ready to go. Purchased a 2008 Chevy Avalanche with only 20k miles on it.

Very nice. Have fun with the new car. Congrats!

great topic, any feedback on business voip service would be great I work for an IT company here in San Antonio. You have many different options for Voip service. Your first thing that you must consider is whats called Quality of service. There are a couple of websites out there that can test this. QOS tells you how well your internet connection is able to maintain a constant stream of data, without dropping packets. You want to keep this QOS somewhere between 80-100. Once you have that, your options are endless. Pick a provider, and pick a phone system that you like. Hope this helps.

You can try US Bank. They have local branches in Tacoma, and as long as the chex entry is over 2.5 years old, they will open an account for you.