Loan With Collateral

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Posted on January 30, 2019 at 22:30 PM

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Car title loans and collateral are not discharged by bankruptcy proceedings. Even in bankruptcy, car title lending defaults result in repossession.
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A UCC form, otherwise known as a financing statement, is a form that is filed with the appropriate recording agency that publicly declares the lender's interest in the collateral specified in the promissory note and security agreement.

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