Account Went to Repossession, but Bank Never Claimed Vehicle

**BSponseller84** · 06-19-2011, 05:09 PM

My question involves an auto loan or repossession in the State of: Colorado

I purchased a used car in July of 2006 on a standard 60 month auto loan. In April of 2008 that loan went into repossession. I had been in contact with the lending company and had been asked to surrender the vehicle at my home. I drove the car home, parked it on the street in front of my house and I walked away from it. One week later the car was still there and I received a nasty phone call from a "private investigator" who demanded to know where I had "hidden" the car. I explained to the caller that the car was parked on the street in front of my home address (the same address they had been sending monthly statements to since I purchased the vehicle) and even went over the address with her to make sure they had it correct. This was the last contact I had either directly from the loan company or from a third party representative. Fast forward to today. The car is still here! I have gone out and started the vehicle at least once a month and have only moved it 1 time (to go put gas in it) since April of 2008. In January of this year I pulled my credit report and saw that my auto loan was "charged off" in June of 2008. There is no other creditor listed that shows any auto loan or anything close to the amount that I had owed on the vehicle. I also researched my vehicle title and saw that the only lien listed against it was the original loan. My question now is can they still come take the car? I have cared for this vehicle for the past 3+ years and it is in great shape. I have no interest in selling it, but I would sure like to start driving it again if I can since it is in much better shape than the vehicle I currently have. Any help is appreciated.

**Mr. Knowitall** · 06-21-2011, 08:19 AM

Yes, they can still take the car.

If you want to try contacting your lender to see if they'll agree to release title to you in exchange for a payment of some amount, you can attempt that. I can't promise that the effort will succeed.

**BSponseller84** · 06-21-2011, 05:39 PM

Thank you for the response.

Could you elaborate on what grounds they would have to take the vehicle though? With the account being "charged off" that means that they sold the debt, so I no longer owe money to them. I owe it to whoever they sold the debt to (which doesn't show anywhere on my credit reports and I have never been contacted). Isn't it illegal for them to attempt to collect twice on the debt?