Cross-border loan collection?

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Subject: Cross-border loan collection?
  We were living in the US for 3 years and have a car loan there. We had to move back to Canada suddenly as my husband lost his job there(and therefore, work permit) Of course, we fully intend to honour the carloan, BUT....if for some reason we couldn´t pay it, anyone know if/how the bank in the US would be able to collect on it across the border? Could they come and repossess the car in Canada?

Thanks

[21-10-2005,14:47]
[**.49.15.150]
mrscoffecrisp
(in reply to: Cross-border loan collection?)
They could report the vehicle as stolen and that would alert all police agencies in the US and Canada including the Border Patrol
[21-10-2005,16:06]
[***.24.179.12]
NY
(in reply to: Cross-border loan collection?)
They can´t report it stolen unless the car is leased!! All they can do is report it as a loan default. If its a car loan then the car title is in your name, not in the creditors!
[21-10-2005,18:49]
[***.253.52.202]
Anonymous
(in reply to: Cross-border loan collection?)
no, if you take a loan a buy a car, you don´t get the title. You get you title on your name when you finish your payment.
SO DON´T TRY TO TAKE THE CAR TO CANADA (THIS IS NOT YOUR CAR, YOU DIDN´T PAY)
Just return the to the car dealer from where you get the car.

[22-10-2005,17:04]
[**.93.106.116]
LA Interview
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