Q: Owed money on vehicle but asked credit acceptance to come get it due to my dad passing 2 years ago but received title
A:
I'm sorry to hear about your father's passing and the difficulties you're facing with your vehicle loan. It seems there may have been some confusion or miscommunication with the lender, Credit Acceptance, regarding your request for them to repossess the vehicle and your receipt of the vehicle title. Here are a few things to consider and steps you can take to address the situation:
1. Review your loan agreement: Look over your original contract to understand the terms and conditions regarding defaulting on payments, voluntary repossession, and the process for receiving the vehicle title.
2. Contact Credit Acceptance: Reach out to the lender to discuss the situation. Explain that you requested them to repossess the vehicle due to financial hardship but have now received the title. Ask for clarification on the status of your loan and any outstanding balance.
3. Verify the title's authenticity: Ensure that the title you received is genuine and officially released by Credit Acceptance. If you have doubts, contact your local DMV or the lender for confirmation.
4. Explore your options: Depending on your financial situation and the lender's response, consider your options moving forward. These may include:
- Selling the vehicle to pay off the remaining loan balance
- Negotiating a settlement or payment plan with the lender
- Voluntarily surrendering the vehicle to the lender
- Seeking legal advice if you believe there has been an error or miscommunication
5. Seek financial and legal assistance: If you're unsure about how to proceed or need help understanding your rights and obligations, consider consulting with a financial advisor, credit counselor, or attorney specializing in consumer protection and debt management.
Remember, clear communication with your lender is crucial in resolving this issue. Be proactive in addressing the situation and exploring your options to find the best solution for your circumstances.
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