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Can a bank charge off an auto loan and still accept payments from you at the same time? |
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Yes, if the account was in default. If there were arrearages payments being made could be applied to such making the account still in default and subject to additional action as well as a charge off.
First answer by ID403494358. Last edit by Macky. Contributor trust: 3353 [recommend contributor]. Question popularity: 19 [recommend question]
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Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Loans > Auto Loans and Financing > Can a bank charge off an auto loan and still accept payments from you at the same time?
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If auto is in charge off should you continue payments? Auto loan charge off but you still have the car and have made payments? Called the bank they told you that your car loan was charge off what do you do? Will the another bank buy your auto loan and allow you to pay them back in smaller payments than your current monthly auto loan?
