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

Kane, PA Viewed 67 times. Posted 7 months ago in Debt / Lending Agreements

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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Answers (1)

Lars A. Lundeen

Lars A. Lundeen

Contributor Level 8

This attorney is licensed in Florida and 1 other state. Posted 6 months ago.

Only if you have pledged your car as collateral for the truck payment.

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