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Good day awesome Credit Boards community Yesterday I read an article on this meter here and it got me thinking. I've checked around the internet and and the info differs. As Far as I understand you can't face a lawsuit for not paying off car title loans. The lender only has the power to take possession of your vehicle. But no one tells what happens if the lender cannot get access to the vehicle. For example - if I crash the vehicle, will I face the lawsuit from the insurance company or from the lender in order to cover up the expenses to repair it? My main plan is to taking a car loan right now and invest n a small business. The citation with the pandemic are getting worse with every day and it looks like my current employer will be forced to lay off some people. I need to act in advance. I've also checked this locator and there is bunch of different lenders with different measurements and interest fees. I've never done this before so I'm looking for some quality advice on the subject. Maybe someone even done this before and could share his experience or at least lender name. It would be much appreciated
Correct me if I'm wrong but it looks like you owe about 50k to the bank. I think that first of all you should stop expanding your debt and start work with what you've got Contact your landlord and try to get a discount ( some of them usually pretty understanding and are willing to aid another ) Also I would like to recommend you contact your banks and ask the from credit vacation ( I do not know exactly what are the California policy on that subject but I think know more than ever you should try it out )