Re: Vehicle Stolen, Lein on the vehicle, need advice.
Originally posted by lil*tymer
About a month ago my 2003 cbr was stolen outside of my work. i have owned the bike for 3 years and paid cash for it 6800$. Today i get a call at work from my insurance company asking about the loan i took out to pay for the vehicle. WHAT LOAN, i paid cash, apperntly there is a lein on vehicle from credit savings union.
My question is how was i able to register this vehicle with a lein on it? That was the only way i was aware you found out about leins. so now they want to cut a check for credit saving union, how is this possible?
There may be a lien on it that was never discharged. I would contact the original owner and/or the credit union in question to verify that the lien has been paid out. If it has not then you'll have to deal with that between you and the original owner. If it has been paid out then request a copy of the letter of release from the credit union to provide to your insurance company as well as the registries.
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