- Report: #1265471
Complaint Review: Los Lunas Consumer Finance - Los Lunas New Mexico
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Los Lunas Consumer Finance
1052 Main Street Suite B Los Lunas, 87031 New Mexico, USA
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505-865-1905
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Los Lunas Consumer Finance BC Financial Belen Consumer Finance Retaing My Title after contract was paid in full. Los Lunas New Mexico
I recently had a loan with their sister company Los Lunas Consumer Finace located here in Los Lunas, NM.. They now are under a new name of BC Financial still located here in Los Lunas, NM. I paid off my loan in its entirely as of yesterday 11/2/2015.. When I asked the receptionist where is my title her excuse was our office is getting ready to close and we don't have time for pw.. but she sure had time to take my payment.. So today 11/3/2015 when phoned for my title we were informed by Nick that we were not gonna get our titile back do to their gonna hold it for another contract that was in our name for a vehicle that was repoed and since sold.. .. my TITLE was never apart of this contract he wants to hold it for. I fulfilled my contract as signed when borrowing money..
this company is not fulfilling their obligation of the contract by not returning my TITLE that is rightfully mine since my contract it was under has been fulfilled to its entire.. I spoke with Joe Cordova today, and was told that he can do as he fills fit right with my title since the other contract was not paid for.. he wishes to get his funds somehow.. so he said he wishes to hold my title to this other conctract. He also mentioned please do take me to court, and if the judge states for me to give you your title back then I will.. We had two contracts with this company one fulfilled, one not.. I don't feel that it is lawfully right that he can just take my title that was never the collateral for the other contract or in that contract agreement.. Please help in this matter of retrieving my title back. Thank you
1 Updates & Rebuttals
Robert
Irvine,California,
USA
Typical Sub-Prime entitlement attitude...
#2Consumer Comment
Wed, November 04, 2015
It is amazing how you are so quick to spit out terms like you don't think it was "lawfully right" for them to hold the title. Yet you don't seem to have any issues when you failed to fullfill your legal obligation on the other loan.
Well guess what, it doesn't work that way. You don't get to pick and choose what "lawful" things you want to do. As such I can just about guarantee you that they are in fact 100% within their legal rights to hold your title still. Here is why.
While I have no idea what the contract states. Just about every single finance/loan agreement has what is known as the "Right of/to Offset". Meaning that if you become delinquent in one account they have the legal right to take funds from your other account to "offset" this delinquency. In other words, because you had a Reposession and a balance due, they can take your title on this one. Where they can again either reposess the car, or allow you to pay off the deficency on the other account.
So go back and read over your loan agreement. If there is anything like that in the contract...you better start figuring a way to work with them to pay off the other loan and get the title back.
