Tag Archives: car loans

Cross-Collateralization and bankruptcy

Recently on our legal forum a user asked, “I filed for Chapter 7 bankruptcy last year and had $10,000 worth of unsecured credit card debts discharged. Unfortunately, one of those credit cards was with a credit union. I also had a car financed through the same credit union. I paid off the car loan, but the credit union is refusing to send me the car title. When I talked to them they said something about cross-collateralization. Can you tell me more about what this means?”

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