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Who owns the car after it s been charged off?

Anonymous

∙ 16y ago

Updated: 4/28/2022

I assume your question refers to a car that was financed and was involved in an accident an it was a total lost. The insurance company pays the bank, the car belongs to the insurance company.

Wiki User

∙ 16y ago

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Related Questions

If you have a car that was charged off in 2004 and they didn't inform you of the charge off and now the car has been paid off did they have the right to do that without telling you?

Who payed the car off?Was the car repoed?

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.

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 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.

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.

Who owns the car when title is signed off?

The purchaser.

If the car is charged off will it be repossessed?

Definately

Can you get a title for your car if it has been charged off and you still owe money on it and you pay it off?

thank you for just saying yes to let me know that all is not lost yes

What are the laws in Illinois when your car has been charged off and you still have the auto?

IT'S BEING CHARGED OFF SO THE CAN GET A COURT ORDER, THEN COMES THE SHERIFF... I WOULD SUGGEST TURNING IT IN IMMEDIATELY BEFORE THEY GET THE COURT ORDER, IT'LL COST YOU A FORTUNE!

If you have a charge off or write off on a car loan and the charge off is over 7 years old who owns the title to the car?

The lien holder owns the vehicle and can legally hold the title until the loan agreement is settled or paid in full.

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.

How can you get a title to a car that was charged off?

You contact the lender who has a lien on it and purchase it from them.

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