Auto Loan Charge-off

[clark251]

Hi all, I am new here but, read a few threads that are similar to my situation. I still have a few questions though. 

The situation:

State: GA

Auto-loan charge off, lienholder is Go Finance a dvision of Drivetime

Vehicle has not been repossed although attempts have been made. I live in a gated community and the tow truck driver could not access the vehcile.

I have not been hiding the vehicle, its parked where I said it would be on the loan application. 

I have not been served.

I have not recieved any statements from the lender or any collection agencies for several months. 

Question:

I realize the lender will want full payment for a PFD. I do not have the full amount. I am willing to surrender the vehicle and pay the difference though. Will the lender consider this and if so how do I negotiate it?

Why haven't I been served yet? Does charge-off mean the debt is considered uncollectable and the lienholder isn't pursuing me anymore?

Why have'nt I been getting any statements? My only account portal is closed as well. I do not even know what the stated amount owed is because of this. 

[916networktech]

Ok a friend I know had something similar, he lost his job couldn't pay the $550 monthly fee, had an order of repossessions, however he moved left no forwarding address, he was still able to renew the tags, drive, and insure the car, after 4 years he said heck with this got tired of looking over his schoulder, he Called the bank , the had charged off the car, and told them the car was parked in a church, a week later they picked it up, sold it at auction sent him a remaining bill, look up your states statue of limitations, he didn't get sued, and it's off his credit report, he learned a valuable lesson finance something cheap not to show off 

Most states allow 4 years statue of limitations since you last made a payment, if the time has passed they cant sue you

[Anonymous]

Hello I’m new to this and was looking for some help , so I had a auto loan that went into collections and I seen in credit karma it said , charged off as bad credit debt profit and loss write off, I don’t really know to much of what it means but I did read somethings on this forum that seemed useful , I haven’t paid the bank any money In sometime and , I seen the account is closed and was given to a collection agency I owe 2800 on it and I don’t have he title , just kinda of lost what to do I seen somitng about offering the agency half of that money to get the title and clear it off my credit score, any suggestions r anything would be highly appreciated thanks