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View Full Version : Lien on car after being written off


ringr10
Mar 13, 2008, 10:53 AM
If a car has been charged off and a collection agency tries to start collection procedures again, would they be able to place a lien against a new vehicle?

ScottGem
Mar 13, 2008, 11:44 AM
A charge off has NO bearing on you. Its simply a tax maneuver on the part of the creditor. Depending on the type of loan used to purchase the car its possible, that they can attach current assets.

Fr_Chuck
Mar 13, 2008, 03:06 PM
Ok, charge off is only a tax term used to save them money for a bad debt, the collection company can still sue you and get a judgement, if your state allows, they can garnish your wages, attach money in your bank account,

So there are many things they will do before they try an get a lien on another car ( but they can in many places)