car loan charge off
Date: Wed, 05/11/2011 - 07:08
[COLOR=black]The[/COLOR][COLOR=black] car does not work and I owe the bank $ 2,600, they want me to pay the debt as I can every month. I can do a letter specifying that they do not want the car and they offered me to pay the debt payments of $ 50.00 a month and commit to clear my credit when I pay it off.[/COLOR][COLOR=black][FONT=Arial][/FONT][/COLOR]
If you dont want the car, you are still legally responsible for
If you dont want the car, you are still legally responsible for the balance. If they are local, have it towed and park it outside their office and take the keys into them. You will still have to pay the deficiency balance and your credit will reflect a voluntary repo.
Hi! Welcome to the forums! I think the company is not intereste
Hi!
Welcome to the forums!
I think the company is not interested in taking you car as it is not in good shape. They may have to repair the car before selling it in an auction. Obviously, they don't want to spend more money on this car.
I don't feel that the offer is too bad. You can try to pay $50.00 every month and clear your credit report once the debt is paid off. They have also given you an option to pay the debt as you can every month. Not may companies make such kind of offers to the consumers.
