charged off four wheeler

Submitted by jimmybuffet4life on Wed, 02/04/2009 - 05:21
Forums
Credit repair

i have a four wheeler that has been charged off some time ago , how can i get the title to it ? do i need to sell it to pay the debit that still shows ? would i have any chance trying to offer an amount for the four wheeler to end the debit ?

scott

If you are not able to repay off the debt, the creditor can repossess your vehicle and sell it off to recover the debt. Now, since your debt has been charged off, it does not mean that the creditor has written off the debt. In fact you are still liable for the outstanding debt and you should immediately contact the creditor to avoid repossession of the vehicle.

Wed, 02/04/2009 - 12:32 Permalink
Anonymous (not verified)

Hi Jimmy
Scott is right. You should immediately contact the creditor and go for a repayment plan in order to prevent repossession of the vehicle. If the price of the vehicle do not cover the outstanding debt, the creditor can also sue you to the court and bring judgment against you to recover the outstanding debt amount.

Wed, 02/04/2009 - 13:06 Permalink
fireyone

They will do as Guest suggests. When you owe money on something like a four wheeler they reposses it and take it to an auction where they get a portain of its value. More than likely it will not cover the amount you owe and you will still be held liable for the payment of any money not gotten from the sale.
If it is still showing charged off and the same place still owns your debt (the original creditor) I wouls call and see if you could make out an arrangement for payment.

Thu, 02/05/2009 - 00:03 Permalink
Mary

If the debt has been charged off by the creditor, you will not be able to get the title to it until and unless you pay off the outstanding portion of the debt along with the late fees and other charges. If you do not pay it off, the creditors can re-possess your vehicle and sell it off to recover the debt if the SOL on the debt has not yet expired.
You can definitely contact the creditor and come to a payment plan to repay off the outstanding portion of the debt.

Thu, 02/05/2009 - 12:21 Permalink
tr_real_man (not verified)

Hey every body
any one knows if a loan company write your loan off and they did not come and get the vehicle, how do you get the title. its been about 2yrs.

Fri, 08/07/2009 - 20:45 Permalink
brian666 (not verified)

you cant get a title to it but the chances of them coming after it for repo is slim

Fri, 09/02/2011 - 06:54 Permalink
crorkz matz (not verified)

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Tue, 08/05/2014 - 20:45 Permalink