Thursday, 12 March 2015

If a vehicle was charged off as bad debt is there a lien holder?

If a vehicle was charged off as bad debt is there a lien holder?
Yes...the lender did not forgive the debt.Charged off is only an accounting term for something the lender has to record on his books...basically to show the loss and non-performance of the loan. It does not change the borrowers obligation, or the lenders rights, in any way.

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