Car/auto loans and PN

[joma44]

I've researched the site and havent come across anything that deals with auto loans and promissory notes. Would it work like like a VOD for CCC? What about reprossession?



thanks great site..

[Jerseee]

joma,



Welcome to the forum!



Why not try it and see if it works? Do you know about certified verification? Do you know how to go about protecting your vehicle from theft (repo)? Have you done your studies on negotiable instruments? Have you read HJR 192?



SO many things to do before actually doing the thing you need to do.



Plan accordingly, study, and apply the knowledge. There is a bevy of information here on the site to get you going and folks will be responding to your posts.



let us know of your success.

[Ice]

Every time you see "CPN" = Certified Promissory Note.



Actually, you have read plenty that deals with auto loans and promissory notes. That little light bulb above your head just hasn't been turned on yet.



Any time anyone makes the claim that you owe a debt to them -- YOU REQUEST VERIFICATION.



Most Prom. Notes that you would sign for a bank end up "disappearing" into some unknown black hole... (not really, I just don't want to get in to all that). The thing is... the Original note with your original signature is the only proof they have that you are under contract. But, and here's the neat thing, if this is a "loan" contract then it is more than likely fraudulent.



Now that I've said that... think on what you have read and how that fits in with what you're searching for.



Ice

[logos]

Ice:

You've brought a question I've had simmering on the back burner to the fore. Where do you think the original promissory note ends up? I suspect many end up in the paws of the Depository Trust Company. Am I hot or cold?

[Jerseee]

Logos,



You are warm because depending on the organization--the original contract/note may be traded as a security as well.



There are a few ways that note gets around.