WFDS charged off $8k of an auto loan I stopped paying July 2018. They did not reposes the car however.
Recently they sent a letter advising me to begin making monthly payments 293 or they would repo the vehicle. This brought up some questions that I really could use some help answering.
1) if the car is repossessed will that affect my Credit Score? The charge-off is already their does a repo make things worse?
2) They offer a settlement of 5K which seemed not great but I saw a few others with higher balance who got that same offer. Is this pretty common for WFDS, is 5k their default?
3) The SOL in my state is 4yrs, have they been known to take their charge offs to court?
4) I’m assuming they will not acknowledge PFDs, what have been some good strategy’s for nogoriating with WFDS specifically?