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Posted in Auto Loans
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toyabg

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How does a car company continue to increase the amount on a bad charge off
It was a charge off at 19,000 but has grown to 25,000 how is that possible

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A charge-off note does not release the debtor from repaying the debt but the notice is made for legal proff the creditor believes the debt may not be paid so they can take the bade debt expense.  The increase in the total owed? You understand the concept of interest being charged on credit accounts??  That's what's happening and it's quite legal.

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