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Auto Loans and Financing
Repossession
Debt Responsibility

If the lender has written the car off and not repossessed it do you owe them money?

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Wiki User
2015-07-15 18:49:33
2015-07-15 18:49:33

YES

Yes, you owe them money or yes they owe me the title if it has been written off? Thanks for your help.

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Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.

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The lender who holds the note on your car, is the one that repossessed your car.

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In most states, the lender will sell the car. If they sell it for more than you owed, they keep the extra money. If they sell it for less than you owed, they send you a bill for the difference.

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CALL the lender or better yet, VISIT the lender with CASH ready to pay off the car.

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As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.


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