Lenders Claim Car Titles Lost in Mail
Lenders across the country are being held accountable for losing automobile owners’ titles. When someone pays off a car loan, the lender fills out a certificate of title that releases the lien and gives that person full legal ownership of their vehicle. While this process is supposed to be straightforward, there are patterns of banks claiming owners’ titles were “lost in the mail.”
When a title transfer is lost, the owner of the vehicle has to pay for a new one through their state’s Department of Motor Vehicles. Now, attorneys are considering a lost car title lass action lawsuit, filed on behalf of those who were told their titles were lost. A lost automobile class action lawsuit will hold banks accountable and help car owners receive compensation for their time and money.
My Lender Lost My Car Title in the Mail – What Can I Do?
Your vehicle title is important. It shows proof of ownership and contains valuable information about your car. If your bank claims to lose your title, you need to replace it as soon as possible. After the title has been replaced, consider joining a lost automobile title class action lawsuit to get compensated for the time and money you invested in replacing your lost car title.
How to Replace a Lost Car Title
If your car title is lost, you can get a replacement at your local department of motor vehicles office. Requirements often differ state by state, but you typically need to provide proof of ownership and pay a replacement fee. It’s also likely you will need to provide your driver’s license, the car’s vehicle identification number (VIN), and personal information such as your address and social security number. For specific state instructions:
Contact your state’s department of motor vehicles or department of revenue for instructions on how to replace your missing car title.
Cost of Lost Car Title
The cost of a replacement car title depends on where you live.
Illinois – $50.00
Missouri -$14.50 (combined processing fee and duplicate title fee)
This figure differs state-by-state. You can contact your state’s department of revenue or department of motor vehicles to find out exactly how much it will cost to replace your lost automobile title.