Overhaulin'

Can a title loan company really come get my car once I default?

I live in the state of Florida where title loans are illegal. Because of this, I received a title loan in Alabama. I have now defaulted on my loan. The company calls me repeatedly all day but my car has been sitting in the same spot for the last three weeks waiting on them to pick it up. I don't understand why it is still sitting there if they have been so persistent in getting in contact with me. The reasons for not answering their call is irrelevant, I just want to know if they don't have the authority to pick up my car but won't tell me that. Thanks!

Public Comments

1. Yes. What did you think backs up a title loan?
2. Yes they can pickup your car. They haven't yet because they would rather have the money than the car. Repo is a last resort.
3. Be careful with them. They are aggressive at getting the money that is owed to them. They don't really want your car. Careful that they don't send you to collections, or put a judgment against you to garnish your wages. Talk to them. Ask them if you could drive to Alabama and drop off the car there. /
4. yes they can and will. it may not be immediately as most companies don't want to take your vehicle, your means of transportation. it can take around 3 months before they begin repossession procedures. but rest assured if you have no communications with them and take no action in getting your loan agreement back in good standings they will repossess the car. not only will it affect your credit it can affect you getting hired for a job, renting/buying a place to live.
5. Even after the car is repossessed you will still owe the balance between what the car sells for and what you borrowed. So the creditor is not going away.