Paper Holde

Paper Holde


one bank wants me to sign a paper stateing that they are the lien holders.So right noe there are no lien holde

I paid off one bank and they sent me the title. Now the other bank that lent me the money wants me to go back to the first bank and sign a paper which states that the new bank is the lien holder

You probably signed a document with the new bank saying that you will put them on as lienholder. Yes you do have to sign that document. You're going to cause yourself a legal headache if you don't. You entered into an agreement with the new bank saying that you will get a loan with your vehicle as collateral. You will pay the loan on a certain day for a certain amount of months. Just because your old bank sent you the title doesn't mean that you still don't owe the new bank money.

Do the right thing and turn the title over to your new bank. Don't ruin your relationship with the bank, and possibly your credit, by trying to get something for nothing.