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Lisa R.
Lisa R.
Bradbury, NSW

My car is held as security against a personal loan and we want to sell the car. The personal loan is for 20, 000 and the value on the car is only 3000. They are saying no. Can they make us keep the car?

7 years ago


Hi Lisa,

Get a payout letter from the bank that confirms the amount and how it is going to be paid to them,
Get the customer to pay the outstanding amount according to the letter. The bank should then release the charge off the car.

thank you

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