Washington, DC asked in Consumer Law and Contracts for Maryland

Q: Can I lend money to someone and ask for their car tile as collateral? Do both sign it? How do I give it back when paid?

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1 Lawyer Answer

A: Title loans are legal and common, but because of abuses by some unscrupulous lenders, there is a whole body of law which has developed to protect consumers from predatory lenders.

This is not a simple DIY project. You need the services of a competent attorney experienced specifically in title loans. This is probably not going to be cost effective for a single loan or small number of loans.

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