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Can the lending company repossess both of my cars if only one loan is in default

Asked almost 3 years ago - Kane, PA
Business Business Debts Business Loans

I have two vehicles. The loans on each vehicle are through two different banks. The bank i have my truck loan through is going to repossess my truck. I have never been late or missed a payment on my car. Can the bank that holds my loan on the truck take my car too?

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Attorney answers (1)

Reputation Level 20
Answered over 2 years ago. Personal Injury Lawyer in Rutland, VT.
Only if you have pledged your car as collateral for the truck payment.
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