Can someone explain what the next steps are:
I purchased a 2007 vehicle from a large finance company that provides financing for the credit impaired. Unfortunately, I lost my job 2 months after I drove off the lot and before my first payment was ever due. Needless to say the first payment never occured, we have barely been eating. We have been in contact with them. But even if we speak to them they still call all of our references and discuss our business. We are now 128 days late and they have threatened to charge off the account on 11/30. What does this mean?
BTW we had a really rude women on the phone tell us that she will see us in court! She said she knows we can't pay but she calls our references to embarass us. For what? What are their next steps.?? What is does charge off mean? Do we have to go to court and for what? Are we in some type of trouble?