How do I remove lien from my vehicle's title?
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My husband and I refinanced a car loan in 2005 in Wisconsin. We were unable to make payments for some time. Set up a plan to pay with the bank, however, someone came to repossess the car. When I told the repo people that we had made payment arrangements, they left without the car. After some time we were unable to pay again. We found out that the original bank who gave us the loan, sold our loan to another company, either bank or collections. We recieved a couple of letters then that was it. In 2008, we filed for bankruptcy, but no one claimed the car. We then canceled the bankruptcy because we had to foreclose on our house, and didn't need the chapter 13 as we just did it to save the house, but we were unable to. We are now in 2010, still have the car, with no use for it. We have no idea who owns the loan and have been unable to find out. We would like to get rid of the car, but the lien is still on it. How do we/can we get it released?
Each state has a procedure for removing a lien from a vehicle.
In Wisconsin, see the Wisconsin Dept. of Motor Vehicles page Removing the lien from a title page to see the three means in which you can remove a lien in that state.
Again, each state has slightly different rules, but all Dept. of Motor Vehicles have procedures in place for removing a lien from a vehicle.
Alternatively, you may be able to obtain what some states call a "bonded title" for vehicle the creditor has abandoned. I urge you to consult with an attorney before undertaking this procedure. Wisconsin does not offer this procedure. However, Texas offers a bonded title procedure.
Consult with your state's Dept. of Motor Vehicles to learn if your state offers a bonded title, or the correct procedure to follow when attempting to register an abandoned vehicle.
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