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After a car loan has been charged off as a bad debt can the repo man still recover it?
Wiki User
∙ 15y ago
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.
Wiki User
∙ 15y ago
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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Yes, a "charge off" does not indicate that the debt is no longer valid.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.
Can you still talk to the credit card company directly for paying off an unpaid debt or do you have to talk to the debt collection company?
Once the debt. has been charged off and sold to a outside collection source you must talk to them.
If I declare bankruptcy to stop credit card debt do I still owe interest on the credit cards?
You are STILL liable for the balance owing on the account. It is up to the credit card company how they decide to recover the debt. Companies would rather recover debt at a lower repayment over a longer period - than wipe out the debt altogether.
If a debt is charged off to you still have to pay it?
Yes. A charge off does not cancel the debt, it is still valid and collectible by whatever means is available to the creditor, including but not limited to a lawsuit.
Can a civil summons be filed if the credit card debt has been charged off?
Yes
Can credit cards still charge interest after credit debt has been paid offbefoe due date?
Yes they can. They charge you from the time they last charged you interest until its paid off.
Should you pay off a debt that is already listed on your credit report as charged off?
A debt being designated as a "charge off" does not mean the debt is not valid and collectible. Collection of the debt will still be pursued either through an agency contracted by the original creditor or a third party purchaser. The creditor/collector has the option of filing a lawsuit against the debtor to recover monies owed as well as using common collection practices such as telephone and written correspondence.
What to do if car has been repossessed mechanial lien in Indiana?
Choices:Pay the bill File a police complaint for fraudSue for fraudDo nothing and allow the car to be sold to recover the debt and maybe still owe money afterward.
Can your car be under repossession after it has been charged off by the finance company?
Yes, a charge off does not mean that the debt is not owed nor collectible. The creditor/lender will generally use whatever means necessary to recover property and/or money owed, including repossession and litigation.
When a defaulted secured loan is charged off and the property isn't repossessed but the account is turned over to an attorney do you still have to pay the loan?
Absolutely, a charge off does not affect the validity of a debt. The issue of the account being referred to a collections attorney or law firm may indicate that the creditor has decided to file a lawsuit or enter into arbitration action to recover the debt.
How long do collection agencies have to recover debt after a vehicle has been repossessed in the state of New York?
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