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What do you mean by "fix" it? Do you want this taken off of your credit report? Was the loan legitimately charged off? Do you still owe a balance on the loan? If you have a legitimate charge off reported on your credit report, it cannot be legally removed. If you owe a balance and the charge off is recent, paying off the balance could help. However, the charge off will still show on your credit report for 7 years, and only time will remove it. Still, if you keep your credit in good shape otherwise, the charge off will hurt you less and less as time goes by. Read more about your credit report and score in the link below.
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If there is a charge off on an auto loan and you have the car who does it belong to?
IF there is a LEINHOLDER on ANY title, it belongs to the LEINHOLDER.
How can a primary buyer on an auto loan have it charged off then come after the the co-signer?
After the charge off how can some one come back and recharge you?
Can you pay off your auto loan to the lender?
Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.
Is a charged off loan collectible?
yes a charge off loan is a collectible.
What is the journal entry to charge-off a loan?
journal entry to write off a loan
Can you pay off a auto loan early?
Yes you can pay off an loan as early as you'd like.
If you want to pay the auto loan amortization schedule off early are there any early settlement charges?
There are usually no early settlement charges if you want to pay an auto loan off early. There will be charges if you pay an auto loan off later than scheduled.
Can a finance company charge off on an auto loan if a payment was recently made?
"charge off" is an accounting term that has nothing to do with collection or amount owed or anything like that. They can repo a car if a payment was recently made as long as you are behind.
Are there penalties for prepaying a bad credit auto loan?
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
Can you get the title for charge off on your car?
The short answer is no. A charge off means you didn't finish paying off the loan. A charge off occurs when the the owner of the car fails to make the monthly payments. After 121 days of no activity on an auto loan the bank declares the loan a bad debt and the do a charge off to get that bad debt off of their books. They will never stop trying to collect the bad debt or repossess the collateral. The only way to obtain the title is to get a lien satisfaction letter from the lienor, (bank). The only way to get that letter is to satisfy the lien. So if your loan has been charged off you have to call the bank and see if you can get a payoff quote. Payoff the car get the letter and title
What exactly is a loan auto calculator?
An auto loan calculator helps in figuring out the amount of the monthly auto loan payments and the paid-off date if all payment are made, based on the auto loan amount, term, interest rate, and start date. It can also help figure out how extra payments change the paid-off date.
Can a bank charge off an auto loan and still accept payments from you at the same time?
Yes, if the account was in default. If there were arrearages payments being made could be applied to such making the account still in default and subject to additional action as well as a charge off.
