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kerry25

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Can I dispute a charge off/repossession on an Auto Loan when a Lien Company has the car?
I signed a car for someone. And yes I NOW know that is a colossal mistake and lesson learned. Now that’s out the way here’s the help I need. I have a very good (750) credit score so when the person stopped making payments I made a few payments to save my credit. In addition to no longer making payments, I recently found out that the person took the car to a garage and did not pay the mechanic so the mechanic placed a lien on the car. I was able to speak to the lien company and they advised me that they reached out to the creditor to come and pick up the car but the creditor did not. The lien company was able to get the title of the car by applying for an abandoned title. So at this point, I have no rights to the car and still have a 9500 loan with the creditor. I called them to try to set up a settlement but they claim they have no program to which I can apply for a settlement. At this point I have to take a loss and have it hit my credit. The creditor was also at fault for letting the title go as the lien company stated that they reached out to the creditor and they did not respond nor did they make any attempts to come and pick up the car. The customer rep at the creditor stated that in 90-120 days I should see a charge off/repossession on my credit. Does anyone have any advice on what I can do? I was told I can take the person who had the court to civil court but without any signed document between us then the judge is likely to throw it out and I don't have the time for that as well. Lastly, someone said once it appears on my credit as a chargeoff or repossession, I should dispute it….how would I dispute it?

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