QUESTION
Can two title loans be taken against one title threw the same title company? The loan limit in Tennessee is $2,500.00 what if the loan exceeds that?
Asked on Apr 23rd, 2016 on Business Law - Tennessee
More details to this question:
Also if paper work has been signed stating no details of the loan are to be released and you do not want documentation sent to your mailing address and you rive detailed statements on your account is that a violation of the privacy act? Back to my original question, the title loan was supposed to have been refinanced instead the agent took a seprate loan on the same title. Holding one piece of equity for two seprate debts. I don't see how that is possible.
1 ANSWER
I do not see anything illegal with one company giving multiple loans on one vehicle title as long as the combination of those loans do not exceed the $2,500 limit. However, to find out the exact status of both loans, I would contact Tennessee Consumer Affairs and explain the situation to them and see what they say.
Answered on Apr 23rd, 2016 at 7:09 PM