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    ssilky131's Avatar
    ssilky131 Posts: 1, Reputation: 1
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    #1

    Jul 17, 2008, 10:57 AM
    Charge off
    If a car has been charged off do it also have to be turned back in?
    jakester's Avatar
    jakester Posts: 582, Reputation: 165
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    #2

    Jul 17, 2008, 11:40 AM
    Quote Originally Posted by ssilky131
    If a car has been charged off do it also have to be turned back in?
    Ssilky -

    If you wake up in the morning one day and you yawn, stretch, and step outside... surprise... you might find that the car is gone... it's called REPOSSESSION. In some cases, the creditor does not even need to notify you that they are going to repossess it.

    Try to be proactive and work with the creditor before repossession takes place. Set up a repayment plan and do your best to abide by it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jul 17, 2008, 01:04 PM
    A Charge off is merely an accounting term meaning that it was considered a bad debt, it has nothing to do with them suing you for the loss and repo of the car. And if you try to sell the car filing criminal charges latter.
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