I have been looking for specific information on my situation for a while now and have gotten half-answers but I figured I'd give asking questions for my specific situation myself a try. I know a lot of people have charge offs.
my dad cosigned for a 2011 car with me in early 2014. I paid on it on and off for about a year (job losses, crazy romantic situations whatver my reasons for not being able to pay at the time were) and the account was closed(charged off) in late 2015. The only time they tried or said they would repossess it was within that 2014-late 2015 time window. It has sat at all of my reference's addresses, my addresses with no obstruction and still I had it.
I became of a victim of a natural disaster in 2017, in fact, my entire family was and I didn't have a need for the car during that time because I was taking care of my mother. So I allowed someone to use it all while it's still charged off. ( i am still trying to get the car back from them btw but that's another story) my biggest dilemma here is that the SOL has run out , there are no brands listed on the VIN number, I still have access to negotiate with the finance company, and they have not sold the loan to another company or written it off for a 1099c even though it was charged off over 4 years ago. I am concerned about restarting the time if I speak with them and for all intents and purposes, the car has bad memories attached to it so I would prefer to get rid of it, thats when and if I get it returned to me.
Any advice here?
There are no liens or judgments against me and the Statue has run out in my state. I am in the process of filing unauthorized use of a motor vehicle but I have to allow two weeks for them to respond per my county's rules. I do however know where the vehicle is I just cannot get it until the time period is up. It is sitting on someone's private property not being driven because the tires are apparently busted. I am aware of issues with responsibility, I have gotten tickets and other things to randomly pop up during this time. yes no friend of mine. But given that the statue is out and there is roughly a year and 8 months left before it drops off of my credit is there anything that you would suggest to take care of this. the car is not worth the 13000. however, since they havent done anything else im assuming I can still negotiate may be to pay-to-delete but I don't know how to do that.
My dad's credit isn't messed up because of this and to be honest neither is mine. keep in mind that this has been four years and 2 months. In fact, it only shows up on one of his reports (Equifax). The vehicle was listed as charged-off on all of my reports as of August 2015. It has been that way and has reported as a charge off for the past 4 years. I have seen the delinquency in other things (student loans used to show up with days in this way before I consolidated) and it doesn't read in that way. it just says charge off. Now if we are talking about loss, it is possible that there was a "glitch" due to the huge hurricane we had and the fact that the last time I was in possession of it and had the registration renewed was before that flood, it is possible that they assumed I lost it in that flood. (wish I had). Don't get me wrong, I am not trying to avoid paying my debts or just completely forget about something that I borrowed. But given the way that this system is set up, it seems counterproductive for me to stir up something that is dying out and at this time has little effect on my ability to get things.