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    hespi's Avatar
    hespi Posts: 1, Reputation: 1
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    #1

    Apr 10, 2013, 09:21 PM
    Is there a statue of limitations on car loans
    Hello, we used to own a construction company in 1994-95. One of our workers got a loan on one of our work trucks. The worker left, the company closed and long story short, the loan was never paid off. We now have a truck with no title. My question is, I really need to sell it, is there a way to do so without the title and is there a statue of limitations on that loan.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #2

    Apr 11, 2013, 12:41 AM
    I don't understand - you owned the truck outright and allowed an employee to take out a loan somewhere else, using it as collateral?

    There could be a judgment against the worker for all you know.

    Apply for missing title at your DMV if you don't know who wrote the loan. I don't really get gist of this.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Apr 11, 2013, 03:16 AM
    Does not make since, since he can not borrow money on YOUR truck, you borrow the money, did you sell him the truck ? And then take it back ?

    Please explain this in more detail. But no without a title you can not sell it.
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