Now if I happened to get my title in the mail today/tomorrow I just might move my plans to move out of this country up a few years....

 

Wasn't trying to say you were unethical, but some here would think that, hey I got my title, I don't have to pay. As you can see from the responses.

 

Just a little forewarning...

If the bank realizes the mistake, be prepared to cooperate, otherwise you can be held accountable.

 

guberment bank huh? Take em 2 toilet seats and a hammer and tell em to keep the change.

 

Well I actually took the title back in to the bank tonight. Here's what I learned though by doing it. The lady said I would still be liable for the loan, but if I were to default on it they couldn't legally come after the truck since the lien had been released (then she said "opps did I say that our loud?).

Was nice to have it for the short time I had it and had I known I could have "legally" kept the title I probably would have and simply got the lien release form for the other car. I would have paid the loan though because it was the way I was brought up and that damn sense of responsibility I have.

 

Good job, everything comes full circle

 

You will still be legally obligated to pay. I had something semi similar happen to me the bank made a mistake in my favor and I ended up having to pay it back. I contacted a couple lawyers and they told me that I was SOL

 

Yep that's what the lady told me, but that if I defaulted they couldn't legally repossess the truck.

Oh well they have the title back now.

 

which means you should've traded that "paid off" truck in for a SD.

 

Unfortunately the truck is on it's way out to Los Angeles to catch a boat to Hawaii. Shipped it out last week so that it's on the island when my family and I arrive there at the end of this month.

 

Now if you defaulted on the truck, would your credit score take a smashing?

 

I would guess yes since I would be defaulting on the reamining portion of a bank loan.

 

Yup, that's it. THey have no lein on the truck. You are still attached to the loan though. You default, they destroy your credit. Maybe send you to collections if you don't pay right away, then would probably come the horrassing phone calls. Before you know it, Bruiser is at your door looking to break your legs. You did the right thing. Although I would have kept the title.

 

Yep wishin I kept the title, but I would have paid off the loan. I've been active duty Navy for over 21 years now so I have a pretty good sense of responsibility. Reason I wish I would have kept the title is I can see it now when I do pay off the loan "I'm sorry sir, but our records show we have already sent you the title"

 

Thanks for serving, my brothers in baghdad now, spoke with him today through satallite phone.