I paid off my car loan 3 weeks ago, the company sent me a letter saying the loan was paid in full and the title to the car. But they say they didnt get the payment, is the car legally mine?
by 
Anonymous
ANSWERS: 6
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Huh? You said they sent you a letter indicating the car was paid in full, so when did they tell you they did not get the payment? The car is legally yours once you have actually paid off the loan.
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The car is legally yours. You have a legal document (ie your letter from the company)which would stand up in any courtroom.
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forget the loan, you got the title. Case closed.
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It makes no sense that they would send you a letter stating that the car was paid off but then one that they didn't receive the last payment. Do you have proof they received that last payment, cancelled check or money order, etc? That is the only way to prove that the car was paid in full. You need to call the financing company and set this straight.
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They sent you the title. So, the car is yours.
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The car is yours, but you need to be more concerned about having a collection shown up on your credit report. This can damage your score and take years to resolve. Is it worth saving a payment to have to deal with that possibility?
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