Any lawyers here? Question for ya. Lien Release on Vehicle.

[bloodthirster]

My brother just received a lien release and a title to his vehicle. The title shows no one as a lien holder. Heres the problem. The vehicle isnt paid off(still owes $3000) and the financial institution basically screwed up. Does the lien release letter absolve him of the remaining debt? I know its kinda scummy but hes looking at it like hitting the lottery.
I told him he should pay the remaining amount cause they will prolly destroy his credit.

What do you people think?

 

[waggy]

the release of lien does not mean he can not pay what he owes. the contract is still valid.

 

[mugs]

He still owes the money, but they probably can't take the car if he defaults. But they can screw up his credit.

Kick your brother in the nads for me.

 

[waggy]

Originally posted by: mugs
He still owes the money, but they probably can't take the car if he defaults. But they can screw up his credit.

Kick your brother in the nads for me.

actually they can.

the car was for calateral for the loan. it was just a paper mix up.

 

[Biggerhammer]

If he's depending on secondhand advice from all the Anandtech legal types, he's going to be deep in a world of hurt when that company's lawyers start sharpening their teeth for him...