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Posted in Auto Loans
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cummins2500h

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I had an RV. Couldn't afford they payment gave the RV back. Now it shows as profit loss write off?
We had a RV we could no longer afford. We never missed a payment and asked the bank to come take the RV. They sold it at auction and now I see on my credit report it shows as a profit and loss write off. What does this mean?

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You're on the hook for the difference. You had a loan, the RV went to auction and probably sold for considerably less than your loan. That means you still owe the difference. 

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