Q: How long should it take the bank to send you your title after buying back your repossessed car?
It's been over a month since we bought our truck back from being repossessed. We've called the bank (WellsFargo) several times to get our title because they threw out the licenses plate when they repo the truck. The first time we called the bank they said we still owed money and we had the truck in our possession after we paid all the fees to get it out over $500 on top of the $10,000 we paid to get it back. They then said they would have to expedite it and would only take 48 hours to get it approved. We called back after 48 hours and somehow they forgot and said they hadn't submitted it yet. They've done this about 4 times now. Our truck has been collecting tickets because of no licenses plate on the street and we've been having to share rides to work without his truck.
A: There is no fixed date at which a bank must return title, however, waiting a month sounds unreasonable. My advice is to (1) contact Wells Fargo one more time and (2) contact the CO DMV to get duplicate title (link: https://www.colorado.gov/pacific/dmv/duplicate-title). The request should light a fire under the bank... The best of situations is to get a Colorado agency involved--I did this successfully for clients when they paid-off their mortgage. Good luck and keep persevering!
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