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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!
What else can I help you with?
Can your mortgage company attach your savings account if you are behind on payments?
No.
What does the acronym DFLT stand for in an equifax credit report?
In an Equifax credit report, the acronym DFLT stands for "default." This designation indicates that an account has fallen significantly behind on payments, often leading to a status where the creditor considers the account as a loss or has charged it off. A default can negatively impact an individual's credit score and overall creditworthiness.
If you fell behind on an auto loan but continued to make payments on time for a year can the creditor charge off the balance without contacting you?
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.
Could you lose your home if you are behind on payments and your car rolls down hill into it?
Of course YOU WILL LOOSE YOUR HOUSE IF YOUR BEHIND ON PAYMENTS.
How many payments do you have to be behind to get your car repoed in GA?
no more than 2 payments
How can you keep from going to jail if you are behind on child support payments?
Catch up on your child support payments.
Why is it important to make payments on time?
If you fall behind on payments you may often receive late charges.
Can a finance company repossess your car when you lose your job?
Only if you stopped making payments and are behind on your on your payments.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
How can I lower my car insurance costs after I fell behind in my payments?
You can start making your payments on time and avoid accidents
Can westlake financial repo your car?
if you are behind on payments then yes they can
How many payments behind will Volkswagen repo your car for?
two
