- Jun 13, 2000
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I got this story from a local online posting..... I felt it had an important message at the end on how to avoid situations like these.
I have never done business with a check cashing place, but I have personal knowledge of an incident with one of the local car title places.Awhile back, a man called the Sheriff's office and said his car was stolen. Information was taken and learned that the car wasn't stolen, but had been seized by a car title place.He had just bought his wife a new Lexus SUV just 2 months ago. The cost was around $42,000. The car was in his and his wife's name.Unknown to him she had gone to a car title place and needed money for drugs (which he did not know she was using) and pawned the title (he had paid cash) for $5,000. Payments were due on a weekly basis, but she had not been paying.The title shop sent a repo team to their house and took the car. The husband rushed outside to confront them. They weren't violent, but firm in their actions. They showed the husband a certified copy of the transaction which stated that if 3 or more payments were late, they would take the car. He offered to give them a check for the car, but they refused.They took the car for a unbelievable bargain and left.This is more than legal robbery.Please be careful what you sign and how you get major items titled. On something like a car or a joint account, I would suggest having the account listed as "Mr. and Mrs.", not "Mr. or Mrs.." By opting for the "and" account the car could not been pawned legally without both signatures.Just thinking and trying to help someone.
I have never done business with a check cashing place, but I have personal knowledge of an incident with one of the local car title places.Awhile back, a man called the Sheriff's office and said his car was stolen. Information was taken and learned that the car wasn't stolen, but had been seized by a car title place.He had just bought his wife a new Lexus SUV just 2 months ago. The cost was around $42,000. The car was in his and his wife's name.Unknown to him she had gone to a car title place and needed money for drugs (which he did not know she was using) and pawned the title (he had paid cash) for $5,000. Payments were due on a weekly basis, but she had not been paying.The title shop sent a repo team to their house and took the car. The husband rushed outside to confront them. They weren't violent, but firm in their actions. They showed the husband a certified copy of the transaction which stated that if 3 or more payments were late, they would take the car. He offered to give them a check for the car, but they refused.They took the car for a unbelievable bargain and left.This is more than legal robbery.Please be careful what you sign and how you get major items titled. On something like a car or a joint account, I would suggest having the account listed as "Mr. and Mrs.", not "Mr. or Mrs.." By opting for the "and" account the car could not been pawned legally without both signatures.Just thinking and trying to help someone.