QUESTION

What are my options on a lien on an unwanted truck?

Asked on Jun 28th, 2016 on Bankruptcy - Michigan
More details to this question:
On August of 2013, I acquired an automobile loan to purchase a 2002 Dodge Ram 1500 with approximately 182,000 miles on it. On February of 2014, the engine died in it and it became immobile. I immediately went to the local credit union to discuss the issue, and ask for help to repair the engine since I will be paying on it for a long time still. They told me no, because I had been 2 days late on my payments twice. That being said, I had to stop making my payments on that vehicle to save for another vehicle. On July, 2014, I received a judgment against me from the courts, in favor of the credit union, pretty much for the full amount of the truck. They didn't repossess it, even when I offered to drop the truck off to them. They told me they didn't want it. With the judgment against me, they are now garnishing my wages at my employment. It’s not much but they are taking payments on a regular basis. Anyways, since there is a lien on the title, I can't get rid of the truck. I live in a mobile home community and they consider the truck to be dead storage. I had it towed to a shop, to determine the extent of the damages, since now I have been sued for this vehicle. Needless to say, the repairs will cost more than the cost of my original loan and I cannot get it fixed. I tried getting the bank to sign off on the lien so I can give truck to a junkyard, but they want the junkyard to write a check to them. I don't care about receiving any money for the vehicle. How can I legally get rid of this thing? Can I have it towed to the bank parking lot, and mail them my title and key?
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1 ANSWER

Business Law Attorney serving Mount Pleasant, MI at Office of Michael Hyde PLLC
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Quick answer: have the truck towed to the credit union and drop it there. Sign the title as seller and leave it in the glove compartment. Leave a note on the truck letting the credit union know that you now consider the truck there problem since they essentially caused the problem. Then hire an attorney to stop the garnishments and consult about bankruptcy. Just the threat of bankruptcy may cause the credit union to reconsider their position.
Answered on Jul 28th, 2016 at 10:16 AM

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