An auto title loan is secured when
a lender places their name (known as a lien) on your car title as collateral.
Not exact matches
Name a
place, from Boggabri to the Burdekin and Horne has fought out a market share there, assessing the fertility of the land and the banks potential for being the chief
lender there.
The header includes a
place for the borrower's
name and
lender's info: View Screenshot.
In the first
place, the
name saves you the trouble of saying to the
lender, it is none of your business...
The contract with the
lender places you on the hook for the debt, and there's little incentive for the
lender to take you off the note unless there's evidence that your
name was added fraudulently.
If you receive a letter notifying you that your information was involved in identity fraud, confirm that the letter is legitimate and then
place a fraud alert on your credit report to make sure
lenders know to take extra precautions to verify your identity when someone applies for credit in your
name.
If you've
placed a freeze on your three credit reports and an identity thief tries to open a fraudulent account in your
name, the
lender who attempts to process the phony application wouldn't be able to access your credit report; they'll get a message back that your report has been frozen.
Lenders mandate that title insurance policies (with the
lender as the
named policyholder) are in
place before they'll fund a home loan, for example.
As far as the acceleration clause: If you signaled your intent to the
lender via a phone call that you were going to
place title into an LLC that you and your brother owned (or a trust in your brother's
name that
named both he and you as trustees via a quit claim deed) and the
lender went forward, even without agreeing not to call the note due, my guess is that the
lender would not try and stop that from happening.