How to keep the car when an auto loan is charged off

I got a title loan in Georgia on my car last year. The amount of the loan was for $315 . Shortly after my fiancee and I spilt up and I was under the impression he had paid off the loan as per our agreement. Only to find out recently that he did not. To complicate matters more , I had been in a wreck with this car and assuming it was paid off I let him part the car out to a friend. Now I no longer have the car. All loans were in my name. The payment now I believe would be over two hundred days late. I received a message on my voice mail and as best as I could tell it was from a collection agency wanting to repossess the vehicle. What can I do now? I am a single mother of three and could pay in full in a few weeks but have no way of doing anything at the moment.

My car has been charged off and has been placed with an agency for repossession. I have been able to get the money owed on the car but don't know how to and who to trust to pay for the car. What should I do? The finance company is also the repossession company. Please help.

I sign for a friend as a co-signer on a auto loan he stop doing the payments and I just find out my credit is in real bad shape due to this situation, if I pay off this collection agency is it possible for me to keep the vehicle?

I would like know how to do a loan modifaction for a car

well you can also file chapter 13 and keep the car only pay back what the federal court says you have to pay.

I originally borrowed $7,000.00 against my vehicle and have paid back $9,000.00. I got behind by 2 months and repossessed me vehicle, I then paid the delinquent months and 4 days later picked up my vehicle to find the my engine was blown. not sure how it happened but it was fine prior to being towed. Long story short it has been 2 years, my car needs a new engine which costs $6,000.00 my loan has been charged off and I owe still $10,000.00 to the lender. They are very hard to work with and won't settle for a reasonable amount. I need help on how to negotiate a settlement with them. I feel 3-$5,000.00 should be acceptable but they want $7,000.00. Can you help?

Meaning I cannot do the minimum payment but in earnest I am giving each month faithfully some money.

How am I being viewed by the lender?

Can they still turn me over to a collector?

Can they still do a charge off?

Is this strategy effective until I can gain more income to satisfy the debt?

Lets say my car was charged off in 2005. It was reported as charged off, and i took a hit on my credit. now, ten years later, the charge off is gone, my credit is perfect. I call the lender to work out a payoff, and they want 7 Grand on a car Blue Booking for 2 (in good condition). If they arn't budging, what keeps me from paying anything? I have other vehicles. My only hassle is iam paying the monthly insurance and yearly registration. Who is to say it doesn't "get stolen", or otherwise becomes incapacitated? Why pay 7 grand on something they will never see again unless they settle for 3500?

hello,

i had an accident , 11,000 damages repaired marginally , chase bank now did a charge off before my BK by a few days i think. now only way ids to pay it down . i offered 8500 in 30 days , from settlemt of accident , but car may be worth 13000 lowend is 8500 as its a subaru but repaired , rear impact , wonder if chase will help me . and did i do all i could here .28k miles. 2012 car

I am wondering if the balance of my loan which is 1,300.00 (My maturity date was March 28, 2015.) gets charged off, what happens to the title. Does Toyota give it to the collection agency. Does the agency let me set up a repayment plan. do I get the title when I pay the balance

Can a credit card co take a car from you if its paid in full

I had an auto loan that was charged off years ago, I would now like to pay it in full and get the lien released. How can I go about that?

I have been making payments every month but there were times
that I paid late causing late fees being added. Went to make my
May Payment and they said it was a zero balance showing it was
charged off. All that is behind are late fees. Can I still lose my
home. I called them and they said they would have to investigate
the situation. If I go ahead and pay the added late fees along
with the payment can I still lose my home.

Hi Carol,

My loan was 150 days late (which I took full responsibility for), and the bank rep told me I had to pay the balance or that I could take it to a dealer where I could sell it to them for its value (which has remained high), and that I'd be able to negotiate to leave with another vehicle. After reading your blog here, I feel like I wasn't given the correct information. What can I do? I have family and friends who are trying to help me with the balance to pay it off, but if I have a little more time, I won't have to burden them as much because I will be able to do most of it myself. Any suggestions?

Can I claim a car loan that was written off on my personal taxes?

My question is......even though the car is charged off, can i still renew my registration? Not sell or refinance, just renew?

I have until the 31st of July to pay off my auto. It was due to be paid off in May but I had some payments added on the back end due to financial issues at that time.

the bank wont extend the payments past 3 months even though I am still making payments. I have paid on this auto for 5 years.

don't know what to do

I have been told by several people in the credit repair business that once a car loan (California) is charged off and the debt passed on to a collection agency, a collection is not set up to reposes the asset, they just move paper.

Any truth to this ?

I declared my automobile in my bankruptcy, the remaining balance is $600.00 however the worth is much lower. My attorney told me to apply for a abandon title as the finance company doesn't want it. What are my options?

I co-sign for car and the person didn't pay so got repo'ed already Charge off so there is no interest but the car loan cost more than the actual price of the car. Is it worth keeping the car? Or just let it go since it's already on bad record. Can i even negotiate and just pay for whatever the car worth? I don't need the car! I got 4 cars already but I just though for getting this car back will clear my bad credit. What is the smart thing to do?

I co-sign for car and the person didn't pay so got repo'ed already Charge off so there is no interest but the car loan cost more than the actual price of the car. Is it worth keeping the car? Or just let it go since it's already on bad record. Can i even negotiate and just pay for whatever the car worth? I don't need the car! I got 4 cars already but I just though for getting this car back will clear my bad credit. What is the smart thing to do?

my truck was repoed and is 300 days late i owe 5,700 will they work out a payment plan or what oe my options can thet sttele for a cheaper amount

What is a loan modification.

Hi how does a loan modification work on a charge off loan

Can I get my title back on a charge off.

Hello is it possible to keep the vehicle and make payments even though payments haven't been made on vehicle. Is there any way to just start making payments.

If the loan has been charged off for more than 2 years and the vehicle was not seized, can the lien be removed?

What if lender does.not want to do a loan modification?

Can a car still have the registration renewed if it has been charged off?

I ran into financial trouble some years ago and could not make my car payments timely. The car was older (it is a 2006) and the lender decided not to repo it. I think I still owe around 2000 on it. However, no one has contacted me in years about it. The car is in disrepair and I want to get rid of it now, but don't have the title. I also do not know who currently has the title, since several companies were trying to collect the debt after the original lender decided to write it off. How do I find the current party with whom to negotiate a payment settlement to get the title?

can I be sued for car loan after charge off in michigan

we recently filed a chapter 13 bankruptcy and still owe a small amount on our car loan. I checked my credit report recently and saw that the finance company wrote off the car loan balance as a profit and loss. what does that mean? the balance of the car loan was added to the repayment plan so not sure what would happen with the vehicle

I just got a call from an investigator and she is stating that the bank is not taking any payments they just want the car. Is there anyway i can negotiate with the bank without them repossessing the car or me turing it over. Please help me i need to keep the car

My dad passed away, loan company said they were going to repossess the truck in the meantime they haven't and they have charged off truck, what do I need from them paperwork wise to close estate? Charge off p?aperwork? Or Reposession papers

I have a car that has been out for repo since march of 2015 and for the first time in awhile they called asking if I want to pay my car off for what its worth too settle the loan but they refuse too send me anything in writing until I make a first payment of 600 but the total balance would be 3500 should I make the first payment too receive the letter or no ?

My car was charged off but I still have the vehicle. What is a loan modification agreement

Can your creditor charge off your car loan before 180 days?

Hello,

My car has been charged off due to non payment. I have the money to pay the balance buy Im having a difficult time to get the back to accept the payment. Is there any way you can help.

If on the credit report it states debt was charged off for the auto loan and the title itself is clean and the bank was never put on due to the negligence of the dealer or banks fault, does the bank still have right to reposses the vehicle or do I just owe the debt?? in mn state

Is it possible to call you and explain? Very complex situation.

My car was repossessed 2 days ago without prior notice. When I finally got in contact with the lender they said they sent a letter in December saying it was charged off. I didn't receive it. 2 weeks ago I doubledon't up on my payment and it was cashed 2 days before it was repossessed. While speaking with the lady who was rude said that I would have to pay about $12,000 which includes late fees and repossession fees. I stated that what would work is I pay late fees, the months I'm behind on (which is 2-3) to get my car back and get current. Can they do that? Is that a reinstate loan, paying $11 Kelly versus just getting current on my loan?

what should I do about paying the last two payment that I owed.

Hello, my 07 Cadillac was charged off at $12000. I was 189 days late when i went to make a payment. I was told my car was charged off and that i needed to pay the whole $12000. I was told they could settle for $10000 because that is what my car is worth but according to kelley blue book my car is worth $6000. I offer to put down $6000 and pay monthly until my balance is paid off, but my loan company usaa wont let me. They want $10000 in full. Is there anything i can do? i really want to keep this car.

Can I stop a by sending them any amount I have? No, I'm just your friend to the actual charge of someone told me that if I send them anything that they will not charge the car off there was still put it out for repossession if I do not pay the monthly note but they won't send it into charger Kama so I guess I'm asking you is that true? And if not what are some of my options don't have any real cash or about 800 bucks minimum that they will accept, but I only have about $120 I have 48 hours to come up with something or they're going to charge the car off

My loan is behind. I wont to keep my car? What can I do they will not work with me, saying it will be charge off soon.

I purchased a car from a dealership, it broke down and I told them to come get it. The car has been in my yard for 1 yr now. I haven't received any letters from this dealership at all about debt. How can I get a title for this vehicle? I stay in Texas.

if my car was repoed and they charged it off. if I still owe after they sell it can they put a lien on a car that I bought for cash.

I. have a car that been charge of over a year how can i settle the loan

I spoke to my financial who my car is financed.they said it was charged off .i understand the credit situation.but why are they still trying to repo my car

Carol,
I forgot to pay my car loan since Jan 15 and realized it today. It's not May 30th and I can pay off the loan entirely. I looked at my account online and it says charge off - if I pay if off tomorrow will they let me keep my truck? They have not notified me about repossession nor that my account was behind. I can't believe I forgot to pay my car payment and I'm super nervous they will take my truck and my credit will be damaged.

Thank you