Hi Alia Khan here at con la chapter 7 and
chapter 13 bankruptcy attorney in San Joaquin County
and the Bay Area my goal is to help good people with their bad debt problems
today’s topic is auto title lending so what that means is you have a car and
you want to pull cash out of that car and then give up your car as collateral
to the lending company couple of issues related to this first the interest rate
is astronomical it’s almost up to five hundred percent of your interest rate
second if you fail to make payments on this Auto Title lending loan then your
car may be repossessed quicker third problem is if you decide to file for
bankruptcy if your car is tied to this really bad debt you may not be able to
either keep your car or keep the contract as is even if that unsecured
debt gets discharged a better option for you if you need cash is in all honesty
to either go get a unsecured credit card and take some cash out of there if
that’s a possibility I would even suggest if you are really desperate for
cash to do a payday loan or a cash loan because at the very least those are
still considered unsecured debt and there’s no collateral or secured debt
like your car or real estate that’s attached to it and when you do or if you
do decide to file for bankruptcy it can be wiped out so those are the dangers of
Auto Title lending and hopefully you were informed about some of the dangers
of Auto Title lending and you were given some other options if you do need cash
again if you are wanting to consult me if you think bankruptcy is a good option
for you feel free to go to my website Akon law offices calm click on the book
now link and we can set up a time to chat absolutely free thank you