Overhaulin'

State accidently sent me my car title...should I hang on to it?

I recently refinanced my car when my credit was finally fixed after someone stole my identity. The loan company sent in the paper work to the state. There was an error in the paperwork and the state sent the title to me directly with the check that the loan company had wrote to change the title. I now have the title to the car, along with paperwork asking me to make the correct changes…should I hang on to the title until someone asks me for it?

Public Comments

1. YES...don't lose it!
2. If you used your car as collateral for the loan, you definitely need to give it to the lender. Since they made you a loan using your car, the car actually is theirs until the loan is paid off. Or, if the state hasn't actually recorded their lein on the title and are asking you to make corrections, you should make the corrections asked for by the state, send the title and the check back to the state in order for the state to complete the recording of the lein process. Don't keep the title and the check without checking with the bank or the state.