What are the consequences of defaulting on a title loan?

Defaulting on a title loan with TitleBucks Inc. can result in several consequences. Firstly, your vehicle, which you used as collateral for the loan, can be repossessed by the company. This means they have the right to take possession of your car, leaving you without transportation. Additionally, once your vehicle is repossessed, TitleBucks Inc. may sell it to recover the outstanding loan balance. If the proceeds from the sale do not cover the full amount you owe, you may still be responsible for the remaining debt. Failure to pay off this balance can negatively impact your credit score, making it difficult to secure future loans. It's crucial to communicate with TitleBucks Inc. to find solutions and avoid the severe consequences of defaulting.