Auto Loan Repossession Discrepancy

Summary

If your auto loan was charged off but your car was repossessed, and you hold the title with no lienholder listed, you may need to clarify the situation with your lender and DMV. Keep all documents and records of communications.

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auto loan was charged off, year later car was repossessed BUT i have the car title from.DMV listing Only Me as the owner amd No lienholder(s) is listed
Did you receive any notice or communication from the lender or the repossession company before the car was repossessed?
General Information:
- Lenders typically have the right to repossess the vehicle if the loan is in default, regardless of the title status.
- It's important to keep all documents and correspondences related to the loan and repossession.
Communication was made two weeks before that car was on repossession list- But the auto loan was listed on credit report as Charged off last year
Did you make any payments after the loan was charged off?
General Information:
- Charged off doesn't mean the debt is forgiven, you still owe the debt.
- The lender can still repossess the car or sell the debt to a collection agency.
Yes, one payment was made November *, and on credit report i now see that the auto loan was Charged off September/October *
Did you receive any receipt or confirmation for the payment you made in November *?
General Information:
- Keep all payment records as they can be crucial in disputes.
- Making a payment can potentially restart the statute of limitations on the debt.
Yes, I have a receipt for my November * payment, but my account appears to have been treated as if it was not in the charged off/closed account status
Did you contact your lender about this discrepancy after noticing it?
General Information:
- It's crucial to communicate with your lender about any discrepancies.
- Keep a record of all such communications.
I did not notice the discrepancy until recently and thought my account was now closed and would be sent to a collection agency for the balance Not repossessed for physical property
Have you contacted your lender about this discrepancy since you noticed it?
General Information:
- It's important to communicate with your lender about any discrepancies.
- Keep a record of all such communications.
The car title was sent to me from DMV. Can i go to repossession site and claim the vehicle back
Did you contact the DMV about the title being in your name with no lienholders listed?
General Information:
- The DMV may be able to provide clarification on the title status.
- It's crucial to communicate with all involved parties.
I have not, but I will reach out to them. It appears that the car's title was released to me and the lien was removed
Did you receive any official document or communication from the lender stating that the lien has been removed?
General Information:
- Lien removal usually requires a formal process with the lender.
- Always keep a record of all official documents and communications.
I have not yet, but will await information in the mail
What is the name of your lender?
General Information:
- It's crucial to communicate with your lender about any discrepancies.
- Keep a record of all such communications.