Can a bank put a lien on your car title? 2 Answers as of July 29, 2011

Can a credit union or a bank put a lien on your car title if you have 1 payment left due to the fact that you are behind on payments for a personal loan at the same bank/credit union?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Law Offices of Daniel Moulton
Law Offices of Daniel Moulton | Daniel Moulton
It would have to be done through proper collection efforts, and it would be more likely that they want want to sell the car. A lien is usually placed on a car for a loan going forward.
Answer Applies to: Illinois
Replied: 7/29/2011
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Yes, if your agreement allows for what is called "cross-collateralization" which is common, that may be the case.
Answer Applies to: Indiana
Replied: 7/29/2011
Click to View More Answers: