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You can trade it in but the dealer will have to pay it off before consumating any deal he has with you. Charging it off does not relieve you of the debt nor does it erase the lien on the title.

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12y ago

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Can you repossess a vehicle if it's been charged off on your credit and was stolen?

Yep!


In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?

It might get repossessed.


Can a car purchase agreement be cancelled if the car has not received AND the title for the trade has not been turned over to the dealer?

If you have not driven off the lot with the vehicle and have not turned over the title for trade there is no deal. They still have the vehicle you agreed to buy, and the bank has to approve the loan which has not been done either.


Can you trade in your used vehicle that you bought 4 months ago for a newer one and if so does the dealer pay off the prior vehicle and still give you a trade in value?

NO. He will give you the difference in the pay off on the trade in and the trade in value. Stop right where you are. Sell the vehicle yourself and pay off the loan. Then go buy another car without a trade in. The price of the car will drop as soon as you tell them you have no trade in. You will be money ahead. Trade in value is basically wholesale value. You can sell the car for far more than that yourself.


Does the air conditioner in a vehicle have to be charged to cycle on and off?

yes if the compreser is cycling on and off it could mean that you don't have enough freon


After a car loan has been charged off as a bad debt can the repo man still recover it?

Yes, the repo man can still recover the vehicle. The term charge off only describes the status of your account with a financial institution. It doesn't resolve that actual lien that the financial institution has on the vehicle. In other words, your name is on the title but financial institution is the owner/lienholder of the vehicle until the balance on the account has been paid off.


How do you obtain a lien release from dime auto finance?

If your question relates to an auto loan, as soon as you pay off the loan, the lender will forward you the original title and the lien holder box (indicating who has a lien on the vehicle title) will be signed (indicating it has been satisfied and released). Once you have the vehicle title properly signed, you can freely trade or sell the vehicle. If you sell the vehicle as part of a trade with a dealer they are willing to take the vehicle and upon payoff, they will get the title directly from the lender. (You'll be signing a release and authorization as part of the transaction.)


Can you repossess a vehicle if it's been charged off on your credit?

Just because the company charged off the account, does not mean that they don't want to be paid...so if the car is still assessible...they can repo it. Charged off on your credit means that it is no longer an active paying account..the company took a loss for that amount. A different department, "Profit & Loss" will take over trying to collect any way possible. Sorry.


Can you trade in a paid off vehicle for another used vehicle?

Of course. It is your vehicle free and clear, so do as you wish with it. Just be sure and get a lean release from the former lender.


How do you get a title for a car that has been charged off for non payment?

Pay it off. It will still likely be repossessed.


Can a credit card company still continue to charge interest if the debt has been charged off?

Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.


If a creditor has written off your debt can a collection agency then come after you for the amount?

If the debt has been cancelled, no; if the debt has been charged off, yes.