Can I obtain the title to my car if it has been charged off? -
Unfortunately, you will not be able to obtain the title to your automobile after it has been charged off. When a car has been "charged-off," it means that you did not pay off your car loan. If you did not make monthly payments, you will be notified that your automobile has been charged off. After a period of four months (typically 121 days) without payment activity, the bank will declare the loan as "bad debt." In order to get the title, you will have to get a "lien satisfaction" letter, which can only be obtained from the lender (or the bank). The only way to get the lien satisfaction letter is to satisfy the debt. Not only will you not be able to obtain the title if you do not payoff the debt, but your credit score will also take a hit. - BCRC Team
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