Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

My auto loan was charged off. It is currently in reposession, however, i still have the vehicle. Can the vehicle be reposessed from my place of employemnt? If I make payments will that stop the reposession process or can i trade the vehicle in on another car?

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

Auto finance is what I do for a living and yes they can take it at anytime from anywhere and making the payments at this point is not going to matter.

As far as trading it on another car, that will depend on how your current lender is reporting to the credit bureaus. I see credit every day and a lot of the lenders do not report accurately for the very reason that they want another lender to buy the customer and they know if they report correctly no one will come close to them.

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

YES they can and no you can't without an arrangement with them.

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

When did you decide to start making payments again? When you got the repossession notice?

If they have charged it off, and it's in reposession, I would be looking for the repo-man any day, and they WILL come to your place of employment.

I would not be keeping any valuables in the car, because you'll wake up one day and it will be gone.

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

I work for an auto finance company...and if the account is charged off then yes they are looking for the car...it is called skip tracing (they will find where you work, live, and call relatives as well) If you do contact them they will ask for the full amount or to give up the car. since the amount is already charged off that means the bank as declared the loan a loss. They want the car to sell it at auction to help pay of the balance you owed them. You cannot trade the vechile in, the dealership will call for a pay off of the loan and discover it is a charged off account. You cannot sell the car because there is a lein on your car as well

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

If you have it in a garage, keep it there. They can't open your garage,and technically you can also tell them they're trespassing. And if there is anything in your car that belongs to you they HAVE to give it to you, no matter what the sleazy finance/repo company tells you. You have to be provided with reasonable means to get your property, after all, it is yours not theirs, and if they take your property then they are stealing.

Auto Loan charged off, vehicle still in my posession, can it still be reposessed if I make payments?

Yes they can take it from any public place. If you live in a secured apartment building but no garage, they can take it. If it is in the garage, they cannot open your garage to take it.

It doesn't matter what arrangements you make with them, they can still take it because it's charged off. The only way that I can see is to pay off the loan completely or let them have it. If you pay it off, make sure to get every correspondence in writing. Make sure there are no new tacked on collecting fees, etc.

But know your rights.

And decide to do something quickly; it will not take long for them to find you.