[CLBS] Predatory title lender

[Aaron Tolson]

My clients took an 8,000 loan secured by their 2 car titles to try and
avoid BK, deposited it, then talked to me and went back 2 days later and
told the predator they didn't want the loan and gave them a cashiers check
for the loan amount, and the predator said no problem, it's all good and
took the money back and told them the titles would be given back.  Then
after they filed they were told that there was a $1200 fee still secured by
the titles and that their computer system would not take it off.

Of course I had heard about none of this till now, debtors thought it was
just a cancelled transaction.  Anyway is there any protection for people in
this situation, and is the payment of this type considered a preference or
just payment on the secured loan (although the cars are arguably worth less
than the loan amount.)

Any thoughts are appreciated!

-- 
Aaron J. Tolson
2677 E. 17th St. #300
Ammon, ID. 83406
208-228-5221

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