Consumer Protection Law

Consumer protection law questions? Ask a lawyer now.

Ask a Lawyer,
Get an Answer ASAP!

How to legally get out of a title loan?

I'm afraid that if you default the loan, they can take the auto. You generally have three options.

Negotiation - Contact them and explain that you have received an “x” amount of funds and that you would like to propose a settlement. Usually starting like that will get their attention.
Also you might mention that you are attempting to clear up all of your debts in order to avoid being forced to file bankruptcy. These are usually very good key phrases.
The end of the month is also the best time to get best deals, so let them know that you can settle before end of month (also a good key phrase).

CREDIT COUNSELING / DEBT CONSOLIDATION
This is a free service offered by a non-profit that will negotiate with creditors to establish a debt management plan (DMP) for you. The DMP often includes lesser payments per month and maybe even an overall lesser debt. While many promise 50% cut, a cut of 10% to 20% is more likely. This is a good option, but your credit will reflect it, and your credit might suffer a little because of it.

Bankruptcy - Wiping the slate clean and getting to keep a lot of your stuff (house, car, jewelry, thousands in cash, etc.,– basically a LOT) is a good plan for many who just are FED UP, and it might work for you if you really feel you will never ever pay the debt off. Your credit will be down in the dumps for seven years, but then you will emerge reborn. You generally have two options available for personal bankruptcy: -Chapter 7, which basic liquidation of many assets and the quickest; and-Chapter 13, if you have a steady income, it allows non-liquidation and the Court sets up a plan to repay all or part of what you owe.

Read full interaction below »
Ask Your Own Consumer Protection Law Question

Resolved Question:

How can I legally get out of this title loan. I've been paying it for eight months. And I've paid way over the original loan. I currently have two weeks’ worth of late fees and I cannot pay it.

Submitted: 8 years ago.
Answered in 1 minute by:
7/1/2010
Consumer Protection Lawyer: Ely, Counselor at Law replied 8 years ago
Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 103,583
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Verified

Is this on a house? So you mean you just want to give it back and forget about it?

Ask Your Own Consumer Protection Law Question
Customer reply replied 8 years ago

No it's for a title loan.

Consumer Protection Lawyer: Ely, Counselor at Law replied 8 years ago
What did you provide as collateral?
Ask Your Own Consumer Protection Law Question
Customer reply replied 8 years ago
My vehicle, I've been paying on it since 10/09. My interest is around 300% or more. I really need my vehicle and I've run out of options, plus I have to spend more money to fix it.
Consumer Protection Lawyer: Ely, Counselor at Law replied 8 years ago

I'm afraid that if you default the loan, they can take the auto. You generally have three options.

Negotiation - Contact them and explain that you have received an “x” amount of funds and that you would like to propose a settlement. Usually starting like that will get their attention.
Also you might mention that you are attempting to clear up all of your debts in order to avoid being forced to file bankruptcy. These are usually very good key phrases.
The end of the month is also the best time to get best deals, so let them know that you can settle before end of month (also a good key phrase).

CREDIT COUNSELING / DEBT CONSOLIDATION
This is a free service offered by a non-profit that will negotiate with creditors to establish a debt management plan (DMP) for you. The DMP often includes lesser payments per month and maybe even an overall lesser debt. While many promise 50% cut, a cut of 10% to 20% is more likely. This is a good option, but your credit will reflect it, and your credit might suffer a little because of it.

Bankruptcy - Wiping the slate clean and getting to keep a lot of your stuff (house, car, jewelry, thousands in cash, etc.,– basically a LOT) is a good plan for many who just are FED UP, and it might work for you if you really feel you will never ever pay the debt off. Your credit will be down in the dumps for seven years, but then you will emerge reborn. You generally have two options available for personal bankruptcy: -Chapter 7, which basic liquidation of many assets and the quickest; and-Chapter 13, if you have a steady income, it allows non-liquidation and the Court sets up a plan to repay all or part of what you owe.

Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 103,583
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Verified
Ely and 87 other Consumer Protection Law Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a consumer protection lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ely Your Own Question
Ely
Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 103,583
103,583 Satisfied Customers
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

Ely is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Lawyer

7,089 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

103,583 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

Barrister

Barrister

Lawyer

1,671 satisfied customers

Attorney,17 years experience in consumer protection areas

P. Simmons

P. Simmons

Lawyer

1,222 satisfied customers

16+ yrs. of legal experience.

LADY LAWYER

LADY LAWYER

Lawyer

748 satisfied customers

Consumer Lawyer

RGMacEsq

RGMacEsq

Lawyer

604 satisfied customers

Licensed Texas General Practice Attorney

John

John

Lawyer

516 satisfied customers

Licensed and practicing attorney experienced in consumer protection law.

< Previous | Next >

Related Consumer Protection Law Questions
I've been in a bit of a battle to get possession of a car
hello, I've been in a bit of a battle to get possession of a car that I am a co-buyer on. I was contacted by the other co-buyers uncle, who is licensed to practice law in Wwashington but myself the ot… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,170 satisfied customers
I live in Ca and I've a title loan which is 8 yrs old. I
I live in Ca and I've a title loan which is 8 yrs old. I contacted them for settlement and they offer me $1200.00 to receive title. The vehicle is 2002 Chrysler Town and County in bad shape transmissi… read more
Maverick
Maverick
Doctoral Degree
6,138 satisfied customers
How do I remove myself from a cosigned auto loan? Can I pay
How do I remove myself from a cosigned auto loan? Can I pay the bank in full and demand the vehicle back so I may sell it and sue for any loss that is left over from the selling price and the payoff a… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
Allow me to set the stage. A series of serious events, over
Allow me to set the stage. A series of serious events, over a period of recent years, a very expensive divorce, loss of home, job loss for eight months, delinquent taxes (repaying- long installment pl… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,089 satisfied customers
My step-mother, an elderly woman, transacted a non-secured
My step-mother, an elderly woman, transacted a non-secured loan over the phone several years ago with Bank of America for about $38,000 and is still paying it off at $704 a month. She is 89 now, and t… read more
LegalGems
LegalGems
Juris Doctorate
12,587 satisfied customers
My question is... assuming you have made final installment
My question is... assuming you have made final installment payment on a vehicle installment loan but have accrued late fees that have not been paid over the course of the loan, fees that are charged f… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
I have a student loan question. I racked up a lot of student
I am not sure I put this in the right category but could not see a Student Loan category. I have a student loan question. I racked up a lot of student loan debt from attending graduate school for seve… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
I am a member of a credit union. I have a Mastercard through
I am a member of a credit union. I have a Mastercard through them and I had my car financed through them. My son ran my MC up over the limit. I paid it down to the limit and have never be late or miss… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
i have a loan with springleaf financial that was mistakenly
i have a loan with springleaf financial that was mistakenly late 2 times no more than ten days and i just received a letter that they would be repossesing my vehicle within ten days. The account is no… read more
Barrister
Barrister
Lawyer
Doctoral Degree
1,671 satisfied customers
I bought a new car. Two days after I own the car. The dealer
I bought a new car. Two days after I own the car. The dealer calls and tells me they made a mistake. And that I owe them two thousand more. I say my contract is bindind and refuse to pay. It is Three … read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,425 satisfied customers
My ex-boyfriend co signed a car loan or me. The title is in
My ex-boyfriend co signed a car loan or me. The title is in both o our names. We broke up about 3 weeks ago. He now wants his name of the loan. I am working to improve my credit, but I cannot qualify … read more
Lady Themis
Lady Themis
Attorney
Doctoral Degree
65 satisfied customers
My son took out a student loan and I co-signed for it. I was
My son took out a student loan and I co-signed for it. I was just told by my son that the bank says that the loan is in default. My son made electronic transfers for payments and they never went thru … read more
MDLaw
MDLaw
Attorney
Post-Doctoral Degree
358 satisfied customers
Im having a serious, ongoing problem with Bank Of America
I'm having a serious, ongoing problem with Bank Of America and the making home affordable program. I need advice on how to handle these home loan/modification scam artists.… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I recently refinanced my car through my credit union in June.
I recently refinanced my car through my credit union in June. I recieved a 4 day and 10 day payoff amount from the original 0.00% loan company and sent the amount shown. I had missed my June payment w… read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,719 satisfied customers
For a california car title loan, is a late fee of $200 per
For a california car title loan, is a late fee of $200 per day legal on a loan of initial value of $6k? If the monthly payment is made, but a late fee is still due, can the lender continue to charge t… read more
Steinlaw
Steinlaw
Attorney/Principal
JD
1,704 satisfied customers
I got a title loan of $200.00 dollars15 months ago. My business
I got a title loan in Arizona of $200.00 dollars15 months ago. My business went south and I was not able to pay it off as I had planned. For the first 8 months I went in and signed an extension and ma… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,089 satisfied customers
My son is the victim of a predatory car title lender in MISSOURI.
My son is the victim of a predatory car title lender in MISSOURI. The car was titled in both his name and mine, yet the loan was made on his signature only, without my knowledge. The firm's website sa… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,170 satisfied customers
My car was recently repossessed because Ive been late over
My car was recently repossessed because I've been late over three months. When I called to find out what it would cost to get the car back, they told me that my only option was to pay off the entire l… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,170 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x