I ran late on my car payment due to financial problems late last year. In February, I called the car company to see what I could do to get back in good standing and avoid repo. They said to become current in status by paying everything in 2 installments within a week. So I called my mom, borrowed some money and was back to current status,,,, or so I thought.
I checked my credit report today and they charged off the car, saying it was closed and sent to collection...in December! When I called on 2/14 they told me I was up for repo, not that the car had been charged off. I called the ***** today and they said the car is no current and that they will "let me keep the car" to get the title when its paid off, but it is still charged off. I told him that was not the agreement over the phone and they had kept cashing all my checks. We ended on a bad note and they would not budge.
They never repo'd my car and have been cashing my payments. Can they still place this in charge off status?
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Charge off, but still paying!
Welcome to the forums!!!
You have made a great mistake by making agreement over the phone. You should make it in writing via certified mail with a return receipt. They can update your account status as “Charged off” since you don’t have any written proof. Consult with an attorney immediately.
thanks. I am sending the credit bureaus cashed payments and my account statement that states active first. Hopefully that works. One expert told me to go to the source, which are the bureaus.