When Defaulting On a Loan May Not Be Reported to a Credit Bureau
Q: I found out that my car company Chacon Auto is not reporting my credit after three years. If I voluntary give my car back can they report a repo although they do not report my credit now? A: Thanks for writing me with your question about your car situation. It is rare for an […]
My Car Was Repossessed but the Collection Agency Still Wants More Money — What Should I Do?
Car Repossessed Collection Agency: If your car was repossessed—even voluntarily—you might assume your financial obligation ends there. Unfortunately, that’s not always the case. Often, the lender sells the car at auction for less than what you owed, and a collection agency may then come after you for the difference, also known as a “deficiency balance.” […]
Should I Give Up My Car?
Q: I would like to trade in m car because I am upside down on the car loan and it has 123,000 miles on It. I have a previous voluntary repossession and a bankruptcy on my credit report. An attorney recommended that I let this car go and get another one before it shows up […]