Question – If an automobile account has been charged off and you still have possession of the vehicle, are you still responsible for making the payments on that account?
Answer – Yes you could still be responsible even if you didn’t have possession, but certainly because you do. The charge off is for the tax benefit of the creditor and does not excuse you from the debt. Keep in mind, creditors charge off accounts and then still hire or sell your debt to collection agencies to recover.
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