is my car in danger?

[deego92]

k, thid insnt a techinical question im just scared, i owe some money to my creditcard company , enough money for them to try to sue me, and i bought my 240 with that card, (dont ask me y i was just stupid back then) i finished paying the amount i added to my debt from the car but i still owe a lot, can they repo the car?

[480sx]

Yea they can take it.

[snake240]

if you have the title already in your name id think they couldnt. it would be like using the card to buy parts or tools, they wont come and get that stuff. it will just jack your credit up if you dont pay it. thats my opinion. gl

[silpena]

i believe if u paid off the balance for the car they should give u the title... i think they only repo stuff that you owe on payments on or u can give them your car and title to reduce your debt.

[Vegascorbin]

#1. Who has the title?#2. Does the title show any type of lein holder?The only people that can REPOSSES your car is the lein holder if there is one.

#3. If they take yo to court and win a judgement aginst you, then thay can attach (take) anything of value you have to satify that judgment.

#4 READ YOUR CREDIT AGGREMENT! it will list exactly what ownership rights they have over the stuff you buy with the card until it is payed off.

#5. If in doubt, consult a lawer.

#6. Learn from this.

This is my opinion and not legal advice. your local laws may be different. (see #5)

[guyaverage]

The only people that can REPOSSES your car is the lein holder if there is one.

I did repos for 5 years. Unless the laws changed in your state (and they do sometimes), they cannot repo the car without a perfected lien (meaning their name was on the title as lienholder). Most car dealers will not allow a car to be paid for with a credit card for this very reason.