what can i do my bank charged off my motorcycle but i have the pink slip to it with out a lean on it from the bank help does it mean i am free and clear
by no means are you free, I just went through this. they will file a lawsuit for the balance, with me they waited 6 months to file the lawsuit. I settled out of court to avoid filling for bankrupcy. I suggest that you either to a voluntary repo, do a settlement. My loan was for 9k, by the time the lawsuit was filled the balance was 14k.
I agree with oscar. You are by no means free. When the original creditor either sells your debt account or assigns it to a collection agency, the account is written as "charge-off" on your credit report. The charge-off will remain in your credit report for a period of almost 7 years and that will adversely affect your credit score.
The best possible way is to contact your creditor or the collection agency and pay off the debt. You can negotiate with them and agree to pay a lumpsum amount. Request for a settlement that is 40- 60% less than what you actually owe. Before making any payment, request for a written agreement that the "charge off" will be removed from your credit report. You can settle for "Paid as agreed" which is better than a "charge-off"
Yes, you can include motorcycle in bankruptcy. When you will be filling out the bankruptcy application form, you will get a place to mention your assets.
My truck was part of a bankrupcy that involved my dad, he was the co-signer on my truck loan. The truck was charged off by the bankrupcy, but I don't have the pink slip. How do I get it?
no
by no means are you free, I just went through this. they will file a lawsuit for the balance, with me they waited 6 months to file the lawsuit. I settled out of court to avoid filling for bankrupcy. I suggest that you either to a voluntary repo, do a settlement. My loan was for 9k, by the time the lawsuit was filled the balance was 14k.
Hi bigdog,
I agree with oscar. You are by no means free. When the original creditor either sells your debt account or assigns it to a collection agency, the account is written as "charge-off" on your credit report. The charge-off will remain in your credit report for a period of almost 7 years and that will adversely affect your credit score.
The best possible way is to contact your creditor or the collection agency and pay off the debt. You can negotiate with them and agree to pay a lumpsum amount. Request for a settlement that is 40- 60% less than what you actually owe. Before making any payment, request for a written agreement that the "charge off" will be removed from your credit report. You can settle for "Paid as agreed" which is better than a "charge-off"
charge off on motorcycle
Can you file bankruptcy and include a motorcycle?
filing bankruptcy
Hi,
Yes, you can include motorcycle in bankruptcy. When you will be filling out the bankruptcy application form, you will get a place to mention your assets.
Thanks,
Aaron
motorcycle
A guy wants to trade me his motorcycle he filed bankruptcy on with no pink slip, for my truck can I get a pink slip who legally owns the bike?
truck pink slip
My truck was part of a bankrupcy that involved my dad, he was the co-signer on my truck loan. The truck was charged off by the bankrupcy, but I don't have the pink slip. How do I get it?
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bank charge off
can a car or motorcycle still be repo after a bank charge off
Repo
Can my motorcycle be repo after a charge off