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TJ, Esq.
TJ, Esq., Attorney
Category: Consumer Protection Law
Satisfied Customers: 11783
Experience:  JD, MBA
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What do I do cat loan that is changed off on credit report

Customer Question

What do I do for a cat loan that is changed off on credit report but yet they wouldn't except payment nor would they come and get there property
Submitted: 6 months ago.
Category: Consumer Protection Law
Expert:  TJ, Esq. replied 6 months ago.
Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to answer your legal questions. Unfortunately, the lender is under no obligation to accept any funds and change the charge off on your credit report. Nor is the lender required to repossess the car. Did you try paying the lender in full, or just make a small payment? I would be surprised if the lender would not accept payment in full. If I were in your shoes, I would ask the lender to voluntarily remove their lien from the car so that you can sell it, and then offer to pay that large lump sum to the lender in full settlement, and in exchange for changing your credit report. But bear in mind that there is no legal obligation by the lender to agree to it. Still, lenders will usually accept payment of some kind even after a charge off. Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.
Expert:  TJ, Esq. replied 6 months ago.
Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue. If not, then please remember to provide a positive rating to close out this question (and please remember that your positive rating is the only way that I'll get credit for helping you, so I greatly appreciate it). Thank you!
Expert:  TJ, Esq. replied 6 months ago.
Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue. If not, then please remember to provide a positive rating to close out this question (and please remember that your positive rating is the only way that I'll get credit for helping you, so I greatly appreciate it). Thank you!