Fully paid car but bank wouldn't release documents

[kmb333]

Good day guys, i bought a used Toyota Fortuner pero assume balance sa BDO. I paid the original owner around 450k and paid the remaining 24 months (20,500).
I always pay on time and after 24 months na fully paid ko na yung auto loan. The problem now is, ayaw irelease ng BDO yung documents ng fortuner ko even if fully paid na ako dahilan sa may utang sa credit card yung co maker (husband) ng original owner. Wala na sa Philippines yung original owner (wife) nasa abroad na dahil nagkahiwalay narin sila.
Naiipit ako ngayon kasi di ko makuha documents ko kahit bayad na auto loan ko. Tinatanong ko sa bdo magkano yung utang nung husband sa credit card e ayaw naman sabihin ng BDO dahil sa bank secrecy law daw.
I need your help guys...
May naka experience na ba sa inyo ng similar case? Ano dapat gawin? Di na mahagilap yung husband and wide

[dreamur]

Check the deed of sale when you assumed the loan if it states that you are free of any liabilities of the previous owner. If not, talk to the bank manager or find a lawyer.

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[kmb333]

Blank deed of sale po binigay niya sa akin at special power of attorney to get the necessary documents upon full payment ng loan.

Masyadong playing safe yung bank, i have paid in full to the last centavo, wala akong inargabyado. Ayaw din nila sabihin magkano utang sa credit card nung co maker.

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[kmb333]

Paging mr Juan martinez our helpful legal counsel here in tsikot

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[CVT]

Paging mr Juan martinez our helpful legal counsel here in tsikot

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I do not know what it is with banks.

But IMO, they are acting like big a$$h*les here.

What is the relevance of a credit card liability of a co-maker with the purchased unit, and fully paid at that???

Hey! The unit is fully paid!!! There is also a deed of sale...

In hindsight, You should have accomplished this and transferred the liabilities with the bank yourself earlier to eliminate any complications.

[kmb333]

I do not know what it is with banks.

But IMO, they are acting like big a$$h*les here.

What is the relevance of a credit card liability of a maker with the purchased unit, and fully paid at that???

Hey! The unit is fully paid!!! There is also a deed of sale... You should have accomplished this and transferred the liabilities with the bank yourself...

Exactly my point, bayad na yung oto till the last centavo, always on-time din ang payment every month. Di ko maintindihan bakit ayaw nila ilabas documents ng oto ko which is FULLY PAID na. Wala din akong connection sa credit card debt ng co-maker ng loan. Ako naiipit talaga..

Yung co-maker nag tatago na, yung principal nasa abroad na ayaw narin makialam dun sa utang ng ex asawa niya

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[Walter]

You should have informed the bank at the time you purchased the vehicle and transferred the loan to your name.

[kmb333]

You should have informed the bank at the time you purchased the vehicle and transferred the loan to your name.

As much as i want to turn back time ginawa ko na. Hindi ko kasi alam ang process ng mga assume balance, nag tiwala lang ako. Hindi ko akalain sa ganito aabot

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[cast_no_shadow]

You should have informed the bank at the time you purchased the vehicle and transferred the loan to your name.

TS

Have you done this? Or as is may deed of sale lang then tinuloy mo lang yung hulog?

If not, technically the bank still treats the principal borrower and his co-maker as the borrowers not you.

Hostage nga encumbrance ng oto



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[Walter]

I do not know what it is with banks.

But IMO, they are acting like big a$$h*les here.

What is the relevance of a credit card liability of a co-maker with the purchased unit, and fully paid at that???

Unless the buyer informed the bank that he has purchased the vehicle, their record will still reflect the original owner.

[Lew_Alcindor]

I do not know what it is with banks.

But IMO, they are acting like big a$$h*les here.

What is the relevance of a credit card liability of a co-maker with the purchased unit, and fully paid at that???

Hey! The unit is fully paid!!! There is also a deed of sale...

In hindsight, You should have accomplished this and transferred the liabilities with the bank yourself earlier to eliminate any complications.

Exactly my thought also. Co-maker yung may aberya so bakit ikaw sasabit.
Parang "may utang yung ate ng pinsan ng kapitbahay mo " scenario.

[CLAVEL3699]

Sobrang arte na talaga ng BDO ngayon.

If you have problems with your CC, hindi kana pwede mag open ng bank account sa kanila kahit hindi BDO CC ang problem mo.

[shadow]

Sobrang arte na talaga ng BDO ngayon.

If you have problems with your CC, hindi kana pwede mag open ng bank account sa kanila kahit hindi BDO CC ang problem mo.

Now that's BS, mas wala dapat pakialam bad credit CC sa opening ng savings account.

Ano naman effect sa kanila kung savings account lang open ng meron bad credit sa CC hinde naman checking account yun open.


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[dreamur]

Ban pa yata si JM. Mods, when is it going to be lifted?

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[jaggerx3]

Connected ba ang credit card debt sa auto loan? Hmm

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[shadow]

Connected ba ang credit card debt sa auto loan? Hmm

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Yes, lahat ng loans mo sa isang bank connected lahat. Dapat ma settle lahat before ma release yun tapos na loan na either car or housing.

Mukhang ba credit na yun seller hinde na binayaran yun cc


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[ninjababez]

Yes, lahat ng loans mo sa isang bank connected lahat. Dapat ma settle lahat before ma release yun tapos na loan na either car or housing.

Mukhang ba credit na yun seller hinde na binayaran yun cc


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kung magkaibang bank bro, OK lang?
e.g.
metrobank car loan
citibank may utang sa cc

[shadow]

kung magkaibang bank bro, OK lang?
e.g.
metrobank car loan
citibank may utang sa cc

Walang problema


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[yebo]

imho dapat walang pakialam yung utang ng co-maker dun sa utang ng principal.

i suggest t consult a lawyer. pero pag wala talaga then go for a compromise agreement, say 50% of the principal of the cc debt with no interest. tutal written off na nila yun sa books nila.

[ninjababez]

Walang problema


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Thanks, hanggang ngayon kasi di ko parin ma gets bakit ayaw ilipat sa name ng boss ko yung loan ko.

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