Lien question
At the risk of displaying my ignorance (cue the jokes about being an Oilers fan), I have a question about liens. I'm selling a vehicle that was financed through the dealership. The loan ended up going through ATB Financial and was assigned to a branch I used to work at a few years ago. So the loan is through ATB and doesn't seem to have anything to do with the dealership.
Does this qualify as a lien? If I'm not able to sell it for what's owing and I have a small balance left on the loan, is this considered a lien? Or is it simply a loan from the bank's point of view and whether I sell the truck or not has very little bearing on the status of the loan? Thanks in advance for the help.
Last edited by Ruttiger; 03-03-2009 at 01:05 PM.
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