I have a charged off auto loan on my account where the vehicle was reposessed because life happens. I'm confused about how it's being reported and not sure if I should be disputing anything.
The date of first delinquency is 6/2012, date it was closed and reported as a charge off was 12/31/2012. Even though it's a charge off, it's still from what I can tell, being held by the original loan company.
After it was charged off, the monthly payments were still being applied to my past due balance. The car was reposessed and in 6/2014 the balance went down, I'm assuming from the sale of the vehicle.
My first question is that my credit report is showing the last payment was made 6/2014, but I didn't make a payment. Can the proceeds of the vehicle sale be considered payment and would that change the date of first delinquency?
Second question is can monthly payments still be accrued to a charged off loan? It's increasing my past due amount, which is now significantly higher than the balance.
How should I handle this?
