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Can a bank use the right of setoff and refuse to release the title of a paid off vehicle?

Columbus, OH |

I have a student loan, a credit card and an auto loan with bank A. I have defaulted on the student loan and the credit card some time ago. I am current on the auto loan and I will pay it off in a couple of months. Can bank A refuse to release the title because of the student loan and the credit card default?

Attorney Answers 1

Posted

The answer is, it depends. Without seeing the loan documents in question, it is practically impossible to advise you. I would recommend you use the find lawyer tab above to locate a lawyer in your area. Many lawyers offer free consultations where you can gain a better understanding of your legal rights. One sure way to find out is to pay off the car note and see if they release the collateral. A lot of big banks do crazy things and it is not beyond the realm of possibility. Good Luck

Nothing herein is intended to create an attorney client relationship and the response is intended to provide generally a broad response to the area posed by the question. Each question is governed by unique facts and no answer provided is intended to specifically answer the question, but is a general overview of the area of law contained in the question.

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