Wiki User
Answered 2010-12-18 14:34:13
There is dialouge that indicates how you should contact the creditor that has charged off the account, and indicate that you wish to settle the debt, though charged off, in exchange for a written promise to correct your credit report. There is even a form letter you can modify for your own use.
AnswerYou can contact a debt consolidation agency that would deal with your creditors on your behalf.Your Answer
Still have questions?
Related Questions
If your car has been charged off can it still be reregistered?
If the loan on your car was charged off then the lender has written it off as a loss. You can still renew your registration. It surprises me though that a lender would charge off a secured loan.
Car was charged off and repoed will you still have to pay the loan?
Yes.
What happens if you financed a car and you stopped paying on the loan the loan has been charged off and you still have the car?
I don;t know what you mean by "Charged Off". Unless somehow they have written you off as a deadbeat and forgotten the car, which I doubt, they will come and get the car. They will then sell the car and you will pay the difference in what the car sold for and the balance on the loan. Your credit will be ruined for 7 years.
Can you sell your car if it has been charged off?
A charged-off loan is one where the lender of the money no longer believes the loan is profitable, due to the loss of value of the car. This is an accounting term and has no bearing on the amount of money a car will go for.
Can car be repo after balance is charged off at end of loan?
Absolutely, and in most cases it will be!
Is a charged off loan collectible?
yes a charge off loan is a collectible.
What happens to the title after a car loan is charged off?
After you pay off a loan, the title is usually sent to you, and leins are dropped. This will vary from instance to instance though. Ask your loaner.
You bought a car for 17366 your loan is for 72 months you owe 12561 Can you pay it off sooner an will you get charged for paying it off before the 72 months?
Most car loan terms allow the loans to be paid off early without penalty. This is what would happen if you sold the car before the end of the loan, for example. It is possible that the loan was written to include a penalty, however.
If you gave a charged off car back to the cosigner would I be responsible for what they do with it?
Yes. You signed the loan agreement, so you are liable.
Are you liable for a car loan if the owner files bankruptcy and the car was charged off?
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
How Paying Off Your Car Loan Early Can Benefit You?
Paying off a car loan early may be difficult, but it has financial benefits: Interest Savings- If you pay off your car loan early, you'll save money by having a shorter time for interest to be charged on the loan, plus a smaller balance while you're working on paying off your loan. Fewer Payments- Although it'll take some planning to be able to pay more towards the loan now, you'll soon not have to worry about making any payments at all once your loan is paid off.
How do you clear a lien on a car when the loan was charged off so that you can register the vehicle and retrieve it from the impound?
Other than Paying off the loan, you DONT. Charge-off is an accounting term to explain why the lender didnt make any profit on the loan. As long as the vehicle is collateral for a loan, you dont get clear title.
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
If an auto loan has been charged off can you still pay payments to the lender and keep vehicle?
Why? If your auto loan was filled with your bankruptsy, you have the auto. I filled Bankruptsey but had not put the car on. If you had the car loan filled within the bankruptsy your done with the loans. wish i would have done that !!
What happens if you unknowingly bought a car that had a loan on it and the loan is not paid off can they repossess the car?
YES, they can. The person who sold the car can be charged with selling mortaged property(felony in most states).You will be out your money. best to take the car back to the seller and get your money back while you have a chance.
Is a charged off home equity loan collectible?
Yes
Paying for a car but it was charged off. the car was not re-affirmed but was included in chapter 7 bankruptcy?
The fact it was charged off means nothing to you...it is simply an accounting entry by the lender so his financial reports record the loss on the loan. You still owe it and they have the right to collect it.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
How can I take my name off a straw purchase on a car loan?
If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.
Do you have to pay off the car loan if you total the car?
Yes. Hopefully the car is insured, and the insurance money recieved will cover the loan of the car.
How do you get out of a car loan?
You must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan. If your higher monthly payments are making things difficult for you, you can refinance your car.
If the repo man is looking for your car is there a way to buy the car from the lien holder for a big discount if it has already been charged off?
This is a great question to ask the LENDER. "Charged off" simply means they have taken a loss for the income they didnt make on the loan. They can still get a judgment for the entire balance due.
If I have an outstanding car loan that is 23 paid off can I get a second smaller car loan for less than 3000 if I don't own a house If they have the same rate can I consolidate?
You can go for refinancing you car loans with some lesser amount. Also the interest rates charged remains low when you go for refinancing a car loan. Also have different quotes form different car loan companies, so that you are able to make wise decisions.
Can you get a loan out on your car?
ImproveYou must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan.If you higher monthly payments are making things difficult for you, you can refinance your car.
What do you do to get out of your car loan?
ImproveYou must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan.If you higher monthly payments are making things difficult for you, you can refinance your car.
