What can consumers do when confronted by a loan company or agency that has gone out of business or is unreachable? We recently had a customer who was trying to pay off his loan from a licensed competitor – a company whose licensed has been revoked – and didn’t know what to do.
When it comes to car title loan, DBO (Department of Business Oversight) provides a method to communicate the necessary steps to find a solution. The DBO will conduct a Certificate of Search to inform the consumer if the finance lender is still licensed or not, and if there is no record of the company licensed. Then, the consumer could submit the Certificate of Search to Department of Motor Vehicles.
The necessary steps to conduct a Certificate of Search can be found on DBO website under FAQs found here http://www.dbo.ca.gov/Licensees/Finance_Lenders/FAQs.asp#9
When it comes to finding a professional, friendly, and knowledgeable direct lender, we take pride in just that at Windsor Quick Funding. Give us a call today!