Car is nowhere near worth what I owed on it, with my financial situation, it wouldn’t make sense for me to pay it back somehow. Debating on selling it for parts or getting it running again (it’s been sitting since 2019) thoughts or advice? Thanks
Out of state bank charged off my car loan in 2019, never repossessed it. What can I do?
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If the title is only in OPs namas the commenter discussed, how is ownership determined to not be the title owner?
If the title is only in OPs namas the commenter discussed, how is ownership determined to not be the title owner?
Where does it say that OP has the title and no lienholder? The normal presumption is that the financer has it, as that is overwhelmingly the norm.
It's extremely likely the bank still has the title, but doesn't think it's worth the money to actually repossess the car.
To think that the lender financed the vehicle without a lien is just fanciful.
Assuming you still own it outright, then they did just charge it off, so your credit took a hit but they decided it wasn't worth the trouble to take possession. So you own the car, do as you please with it.
Assuming you still own it outright, then they did just charge it off,
That's a false assumption, and that's not how that works.
They never did own it outright, and they never will, unless an incredibly unlikely series of events happen.