You are here:

Collections Law/Car Loan Default/Repossesion/Grand Theft Auto

Advertisement

Expert: Regan Shinski - 8/29/2010


Question
I have a car that is on loan from a bank. They were unable to repossess it prior to me moving out of state. They are threatening me with Grand Theft Auto charges. Can they really charge me with Grand Theft Auto for taking my car with me out of state? Will I be charged with a stolen vehicle if I am pulled over driving it when it is registered in my name?

Answer
Hi Kasey:

Believe it or not, it IS possible.  You're playing with fire by doing this.

Much of this depends on state laws and how the title and registration is currently aligned.  There are legal maneuvers the bank can do when they can't locate a vehicle including getting clean title and/or reporting it stolen or lost.  They do this not only to collect the vehicle but to protect their liability if the car is used in a crime or in a serious injury accident.

Many states also have statutes with lesser crimes such as intentionally hiding a secured vehicle or knowingly harboring this property.

In today's society, it will be easy for the bank to find the vehicle and you if they really want to.  Most records related to cars (title, registration, insurance, etc) are public record.  I think you are holding the vehicle at your own risk.

Good luck, I wish I had a more optimistic answer for you )-:
Regan

Collections Law

All Answers

Answers by Expert:

Ask Experts

Volunteer

Regan Shinski

Expertise

I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience

Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

©2012 About.com, a part of The New York Times Company. All rights reserved.