Car charged off (I think) now how to get rid of it?

Submitted by Anonymous (not verified) on Sat, 07/10/2010 - 22:29
Forums
Credit repair

A few years ago I hit a bad financial stretch my car loan was delinquent and I was in a constant state of harassment by creditors. One day while talking to a collection agent she threatened to repossess the car. Frustrated and fed up with the threats and harassment I told her to come get the car as it's not running anyway and I'm sick of the phone calls. She told me they would probably just "charge it off". I said fine and hung up. It's been a few years now and there has been no attempt from them to retrieve the car. So my question is, how do i get rid of this car?

Aaron

Edogg,

Can you e more specific on your query? Can I know if it's the car that you want to get rid of, or is is the charge-off?

Thanks,

Aaron

Mon, 07/12/2010 - 11:20 Permalink
Edogg (not verified)

The car. I'm pretty sure the charge off is there to stay. =/

Mon, 07/12/2010 - 21:58 Permalink
Barbara_Elena (not verified)

Since your car is charged off, as you think it is; you cannot sell the car. A charge-off doesn't mean that you don't have to pay the debt, so it’s better that you pay your car loan. A charged off debt stays on your credit report for 7 years. Thus, getting rid of the car will not wipe off your charged-off car loan.

If you pay the charged off debt in full, your credit report may show that your car loan is paid in full. You can also delete this report with the help of a pay for delete letter.

Tue, 07/13/2010 - 09:29 Permalink