Used Honda credit card to buy a bike, no lien on title but after filing bankruptcy now I have a lien.?

I purchased a bike at a Honda dealership and they had me apply for a Honda card. I recently filed bankruptcy and all of a sudden a lien has been placed on the title. It is like a JC Penny's card yet they put a lien on my title? My wife called the DMV a month ago and there was no lien. I used to be in the insurance business and normally they would have required me to carry full coverage but I was only required to carry liability. The DMV said that they assumed that Honda (GE Money Bank) had the lien all along but that isn't true. I lost the title but when I bought the bike it HAD NO LIEN. It seems the GE is breaking the law. Heck, with the interest I paid for 5 years I already should have owned the bike. My Chapter 7 court is in a few days. What can I do? I fell like they have done something illegal and that the whole "card" thing was to get me to pay higher interest than Arkansas allows. I need this bike for transportation.

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  • Anonymous
    1 decade ago
    Favorite Answer

    No not illegal. In signing you gave them "a security in in the item(s) purchased and some cards actually state household items". Hence they converted the unsecured debt into a form of secured debt.

    Hence you can pay or forfeit the bike.

    That is why the Bible says the "debtor is servant to the lender."

    If you learn nothing else let this teach you the terrible slavery that debt actually is and avoid it like death its self in the future.

  • Anonymous
    1 decade ago

    I bet this was all in the fine print when you signed up for the Honda card. I suggest you affirm your Honda card and just get debt relief on all other debts.

  • Anonymous
    4 years ago

    The bill says the date, "ceremony help," and the quantity. yet not the main substantial factors like "Lays Potato Chips, 8 oz.." So, if she's not watching for the ceremony help rates, she might ask you. Or, she might call and ***** of fraudulent rates. At which element, ceremony help might arise with the offered products.

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