I have a charge off car loan with Santander still in my possession. I receive an email offering me 50% of the amount owed and it will be paid in full. I was thinking that I could sell it to a dealership just to get it off my hands. The thing is, the said they will only except payment from me. If it's a third party they will send the check back. Do you think a dealership would be willing to cut me the check? I had a car loan with them back in 2005. I was late twice. When I traded the car in, the updated my account to paid in full/never late. I don't know if they are still doing that.
Starting Score: EQ 489 TU 512 EX 495
Oh well. Thank you.
The charge off is 26, 200. Theyes will settle for 13, 100. The value is roughly 14,900. It's out for repo but that came to pick it up. It's over a year.
My account was not sent to collections. Santander still owns it. They contacted me via email with a settlement offer. I spoke with them directly.
No. They want the settlement or the car. If I pay 13,100 the vehicle is considered paid in full and they send the title per the Santander rep.