If a finance company has lost all of the paperwork including the title to my camper, amI still bound to pay with no file?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If a finance company has lost all of the paperwork including the title to my camper, amI still bound to pay with no file?
Asked on December 5, 2011 under Bankruptcy Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Even if the paperwork is lost, the obligation to pay remains--only in the event of promissory notes is physical possession a requirement for the right to receive payment.
That said, if you do not pay and the finance company does not have any of the paperwork, they *might* not be able to sue you and win, since they might not have competent evidence to prove the existence, terms, and amount of the obligation. However, it would be *very* risky to bet on this--since if the paperwork turns up or they can in some other fashion reconstruct or prove it, you will be in default, lose the case, and be liable for repossesion of the camper and/or being sued for the money you owe.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.