Overhaulin'

I have defaulted on a car title loan. This is day 30 and I'm now "holding their collateral." What's....

....the worst they can do to me? I've traveled across state lines and not informed them of my new address. Also: should I file bankruptcy?

Public Comments

1. Eventually they will find you. They will trace you via your social security number. Once you are located, you may be in a store shopping or at home and they will come and hook the vehicle up and take it back. The vehicle will then be resold - the best you can hope for is it is not sold to somebody's friend as you are liable for the difference on the outstanding amount of the loan and what the vehicle is sold for.
2. uhhhhhhhhhh yeah, they will come a looking for ya, especially with your social sec number, just hurry up and file bk or hire an attorney for the bankruptctcy and he can call and tell the car title place you are filing. It should be ok then.
3. I am pretty sure you don't get to keep your car if you file bankruptcy. And yes they will find you even if you don't tell them your new address. Ever notice when you move you start getting mail at the new address without informing anyone. It happens, they are smarter than you think. If you need help bringing in extra income check this site out. It is like myspace but they pay you to use it. http://r.yuwie.com/richardsonhomebuyers/