Just got a "Bonded Title" for my truck. - Ford Powerstroke Diesel Forum
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Old 07-14-2011, 11:27 PM
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Just got a "Bonded Title" for my truck.

Not sure if this belongs here, sorry mods, please move to right section.

I have an 06 F250 PSD. Fell on some serious hard times and wasn't able to make my payments. Long story short, it's been 3 years since I made a payment.

In my defence I tried to make arrangements during that period. Payment was $680 and I offered 440 until I got back on my feet, they declined. They never did get their hands on my truck. It's been a long game of cat & mouse.

Ford signed off on it and wrote it off. They handed it off to another company who passed it on to another company who wouldn't make any sort of payments it was either the balance in full or nothing. One day I called and they said they didn't want it any more. They signed off on the loan.

Nobody had my title. Not Ford, not any of the collection agencies. A friend of mine said we could bond the title out, so I did. Title came in today.

Yet the woman who issued the bond said that if the finance compny or lein holder could file one paper and get it back without any problems. I need to wait another 3 years and then it's a regular title.

Under State law, I can take out a loan on the truck or I can sell it. What do I do? How do I find out if they still want it or not?
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Old 07-14-2011, 11:43 PM
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Hide the pickup truck in Ricky Brown's garage, over on the next block.

That is one messed up situation. If you manage to keep it, you may have got yourself a really cheap truck. If they decide they wanna take it back, then you may need to put your waders on because the chit is gonna get deep. I have no clue what one would do.
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Old 07-15-2011, 12:00 AM
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That's a first for me, good luck, hope it all turns out OK for you.
Doug
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Old 07-15-2011, 12:22 AM
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I jut googled bonded title and have no idea how I have never heard of it before lol.... Anyway that's a tough call because if you sell it the new person would be left holding the bag if they came after it and the new owner had to give it up.. I would hold onto the truck and just drive it or whatever until the 3 years is up and as long as they didn't give you and chit in that time I would et the clean title amd do whatever you wanted with it
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Old 07-15-2011, 01:24 AM
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So they never came to repo the truck or did u make sure they couldn't find it? At this point just drive it and hope they don't pick it up or keep it in hiding. Seems those are your only choices since u didn't turn the truck in. I guess in a way u r now on the run. Good luck.

Sent from my portable forum surfing device.
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