I have 2 chargoffs 3 delinquents and now I'm thinking about returning a car to my CU that I owe about $23k on which is currently sitting in a car lot with about $6k worth of damage due to being rear-ended. My EQ score is 457, I also owe about $600 on a $3k personal loan which i'm current on along with my car loan. If I return the car to CU will this show up as a repo on my report? Also will I still owe them the $23k? or will they sell the car to a wholesaler then have me pay whatever is left on the loan? HOw does this work? Thanks
Oh boy. Well you should try to sell the car on your own. I had the same problem, the insurance didnt pay for repairs. Don't return the car, mine showed up as a repo even tho , they got paid in full at the end. I had to work hard to clean that 20k repo off my records but I did it thanks to this board. I would be much better off selling the car on my own. They will sell it 2 times cheaper or more. Yes they will sell it for cheap and ask you to pay the rest in full payment. Unless you make sattlement.
