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    ringr10's Avatar
    ringr10 Posts: 1, Reputation: 1
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    #1

    Mar 13, 2008, 10:53 AM
    Lien on car after being written off
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    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)
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