§ 18234 Loan Repayment Document Release

• •When you pay off a loan completely, the company must mark your loan papers as 'paid' and give them back to you.
• •If you don’t owe the company anything else, they must give back any items they held as security (like a car title) and return any signed agreements.
• •They can keep papers only if they’re part of a court case or were given to someone else to follow the loan rules.

You take out a loan to buy a car, and the loan company keeps your car title as security. After you pay off the entire loan, you ask for your title back.

The company must mark your loan papers as 'paid,' give them back to you, and return your car title. They can’t keep it unless there’s another reason, like a court case.