Vehicle Title Lender out of Business

Identifying a Subsequent Asset Holder
First thing to do is see if there’s a subsequent asset holder meaning that was that lender bought out did they sell their assets to another lender sometimes you can find that online even news articles that say XYZ bank was sold to a BC bank.

Checking for Statutory Release
There may be a statutory release meaning that if the loan was originated more than five or seven or ten years ago by statute that lien is released and you can get that from the DMV.

Using Title Transfer to Erase Lien
In some cases the document of title transferred to you will help erase that lien if you can show that the vehicles transfer to you and you can document that the lender or that the seller paid off their loan or if they have receipts that may be something which shows that the loan has been paid and they’re both there therefore that the lender has to give you a lien release.

Obtaining a Court Order
If they don’t you can get a court order to erase that Lane and then get a clear title in your name.

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