Re: charge offs

Posted by Ryan Ward on January 15, 1999 at 10:24:47:

In Reply to: charge offs posted by audrey on November 30, 1998 at 19:11:43:

Hi Audrey! I'm not sure anything I can say will help you, but here's my story anyway. I traded in a car that I still owed money on in for a newer car. In essence, I traded my car to a dealer who ask the finance company how much it would take to pay off the rest of the loan. They told him a figure and he payed it. I saw this with my own eyes. They gave the dealer the title to the car as he payed the balance of the loan. A few months later the finance company reconsidered the payoff for the loan and decided it was not enough. The dealer said to the finance company too bad because he had the title to the car. Business is business. The finance company decided to put the difference of $1200 on my credit report as a charge off. I don't know what to do. If you have any comments please help.

Follow Ups:

• Re: charge offs John 09:13:37 1/24/99 (0)

Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:
: Hi Audrey! I'm not sure anything I can say will help you, but here's my story anyway. I traded in a car that I still owed money on in for a newer car. In essence, I traded my car to a dealer who ask the finance company how much it would take to pay off the rest of the loan. They told him a figure and he payed it. I saw this with my own eyes. They gave the dealer the title to the car as he payed the balance of the loan. A few months later the finance company reconsidered the payoff for the loan and decided it was not enough. The dealer said to the finance company too bad because he had the title to the car. Business is business. The finance company decided to put the difference of $1200 on my credit report as a charge off. I don't know what to do. If you have any comments please help.


Optional Link URL:  
Link Title:         
Optional Image URL: