Legal Question in Credit and Debt Law in Texas

Car Loan
To whom it may concern,
Several years ago I purchased a car through trade-in- co-signed for two other cars in the process-the sales person was extremely happy-now it gets muddy- all paper work is signed,a day later the decision to return the vehicle is made (24hr later)- I was told my car was sold (already) which meant- I had to keep the new car and the $470.00 dollar monthly car note -a few weeks went by no payment book , decided to call the bank to ask why no payment book-to my surprise the loan had been dropped by the bank- I had a new car with no car note, unable to trade it back for my car-I a year later some thing told me to pull my credit report- behold the car was written off by the bank or dealership as a bad debt...huh..????? How in the world is this a bad debt, if the loan was never given( I was allowed two (2) car loans instead of (3)..the third was dropped by the bank-I called the sales person, he said this is a good thing -they sold your old car, the bank refused the third loan you have a car with no car note... it is a good thing -but my credit has a bad debt, and I am unable to get the car title ...help?

Asked on 9/23/06, 2:13 pm

TC Langford Langford Law Office

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0 attorneys agreed

Re: Car Loan

I seriously doubt if the dealership will give you a clean title without paying for the car.

Your choice appears to be to return the car, or pay for the car.

Answered on 9/26/06, 12:51 pm

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