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Yes. A charge off does not mean that the debt is not still valid and subject to collection by any means available to the lender.

2006-08-03 19:03:51
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Q: In Texas can Ford Motor Credit repossess a vehicle if it has been designated a charge off?
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Related Questions

Can the dealership charge you with auto theft if you are in default on your payments?

Not if you are on the title to the vehicle and own it. Whoever holds the loan on the vehicle can repossess the car however if you are late with payments. Contact the lender and work something out. You do not want your car repossess. Credit will be ruined for 7 years, and you will still have to pay the repo fees plus the difference in the balance on the note and what the car brings when they sell it.


Can a repossession agent charge a two-day storage fee if they repossess your vehicle at night and you pick it up the next day?

YES


How do banks get their money back when they repossess an auto?

They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.


Can the state of North Carolina charge for personal property when they repossess your car?

The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.


Can you repossess a vehicle from your son if his name is on the loan and registration He has only made four payments in two years and you continue to make the payments to keep your credit in line?

It will depend on a number of things you did not mention 1) the state 2) the type of loan ( is the vechile used as the collateral on the credit line) If you are uo to date contact the bank. Let them know what is going on and they may ( again, depending on the state) pick up the vehicle for you, at a nominal charge.


Can you get your finance company to repossess a vehicle from a second party?

If the lein holder didn't authorize a repossession can the person of ownership take charge and collect the vehicle, even if it's paid on time but both parties on reistration are no longer in agreement?


What do recovery companies charge to repossess a vehicle?

typically it is depending on how much the bank or lien holder is willing to pay...usually though....$200.00...to whatever amount they are willing to pay for premium vehicles and trucks


Can a car get repossess because of no insurance?

No. Most (99.9%) of the lenders require you to maintain Comp.& collision Ins. on the vehicle the money was loaned for and secured by. If you fail to do this the lender can, and in most cases, will put this Ins. on the vehicle and you will be charged. The charge for Ins. placed on the vehicle by the lender will be quite high, and it is then added to your payment. If you get your own Ins., the lender will cancel the ins. they placed on the vehicle.


Can they charge you storage when they repossess your car?

Yes, along with all other costs of the repo.


Can you be charge for your personal belongings in the sate of Colorado after your car has been repossess?

They don't charge you for your personal belongings.. they charge you a storage fee. Yep, it's 100% legal.


What does an annual fee mean with credit cards?

The annual fee of a credit card is a charge applied once yearly. This charge is the cost of having the credit card. There are many credit cards available that do not charge a fee. The credit cards that do charge a fee often offer rewards, like travel.


What is a sentence for charge?

I will charge the clothes to my credit card.


If you had the vehicle repossessed and it is listed as a charge off can they now sue you for the balance?

Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.


Can a creditor remove a charge off?

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.


Does Thrifty Car Rentals require a deposit before you can rent one of their cars?

If you don't have a credit card you'll be required to pay a deposit. If you use a credit card they may charge your credit card for a deposit. Typically this is the estimated rental costs plus 15 %. Once the car is returned in proper condition the charge is removed from your credit card. Like most all other rental agencies, yes they do. The benefit to this is that Thrifty will not charge your credit card the deposit, they simple have the deposit amount on file, and your credit information if they have reason to charge the deposit they will other wise when you return the vehicle in the condition it was rented out in you will not even be charged the deposit.


I-tunes charge to credit card?

You can have itunes charge to your credit card or buy a prepaid card either a itunes card or a prepaid credit card ...


What is maximum amount you can charge on a credit is called?

your credit limit


What is the maximum amount you can charge on a credit card?

Credit Limit


How can I stop the charge when I can't recognize that charge in my credit card account?

Contact your bank or credit card company.


How do charge offs affect your credit?

Charge offs will drastically lower your credit score, just like any negative item similar to collections, judgments, and liens. They will stay on your credit report for 7 years unless removed. The more money owed and the more recent the charge off the more it will lower your credit score. You can remove charge offs by disputing them to the credit bureaus. The credit bureaus have 30 days to verify the charge off or it must be removed from your credit report.


How many points does a charge off take from your credit score?

first it depends what kind of charge off it is. and your credit score is all up to which credit company your checking your credit on .. there is no real answer to that question.


How long do charge offs stay on your credit report?

Charge offs will stay on your credit report for 3 to 7 years


Can a company charge your credit card without permission?

No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.


How do you remove charge offs credit report?

Dispute them with the credit bureaus.


The maximum amount you can charge on a credit card is called?

Credit Limit