Only if they actually took the charge off.
In the State of Arizona, the license plate belongs to the debtor. They cannot charge you for your plate but they can charge you for inventory and storage of your personal property (which, incidently, includes your plate).
A write off means a charge off. This is one a creditor closes an account due to non payments.
Yes, even if only one payment is missed the lending agreement is in default. A lender can charge off the account, repossess the vehicle and/or take other actions provided under the state laws.
Yes, it can. Just because a creditor charges off your debt, does not mean that you don't still owe it. Before you pay on a charge off, make sure you get an agreement from the creditor to delete it from your credit report once it's paid!
If you have a garishee against your salary can the creditor still charge interest. Thanks Theo
That's creative, but it's more likely that they would sue YOU for failing to turn the vehicle over to them.
Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.
Yes. If you are making payments to a car lender, you are generally REQUIRED to insure the vehicle. If at any point they discover that you are NOT insuring the vehicle, they have every right to force coverage as they have a financial interest in that car.
Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.
The bank holds a lien on the title of the vehicle. If you default on the payments, they can reposses it. This is a civil issue, and is handled as such. Unauthorized use of a motor vehicle is a criminal charge which doesn't apply to a civil situation.
What is the maximum amount an unlicensed contractor can charge in Arizona
If payments are current it would not be advantageous for a creditor to charge off an account nor in some cases legal. If there are arrearages on the account that is a different issue, as the account would be considered in default and property that was used to secure the loan could be seized.