Cana lenderreposess my car after they have given me a title witha lien release?

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Cana lenderreposess my car after they have given me a title witha lien release?

I was recently in dispute with my auto lender about additional charges that they added onto my loan (I deferred 3 payments to the end of the loan). I paid the amount they said was due and received the title to my car with the lien release signed and notarized and a letter from them stating that the loan was paid in full. The last payment was an EFT from my checking account and later returned to my checking account by the lender. I called and they said the loan was paid, so I assumed I really didn’t owe after all. Now they are saying I owe. What can I do?

Asked on March 16, 2011 under Bankruptcy Law, Arizona

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You should consult with an attorney, since your rights and the next steps depend on exactly what was said and provided in writing, as well as the timing of it. For example: the lien release and notice of payment may have been--and very possibly were--predicated and contingent upon paying the full amount due after your discussions with the lender. If one of the payments was mistakenly returned, then they could require that payment to be made again, so that you have paid the full indicated amount.

As a general matter, if you had an agreement with the lender, they have to honor it as long as the agreement was not based on some material, or imporant, mistake as to the facts. That means that to determine what you have to do or should do, you need to look to exactly what that agreement was and what payments were made pursuant to it. An attorney can review correspondence, agreements, lien release, and payment history with you and help you determine your rights and recourse.


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