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  1. #1

    Default What are the Consequences of a Car Chargeoff

    My question involves collection proceedings in the State of: Michigan. I purchased a car in my name but my son was making the payments until a few months ago. I noticed on my credit report it says charged off. I have no idea where him and the car are. Can they garnish my wages for it when they don't have possession of it

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Car Chargeoff

    If you are the borrower, yes they can sue you and take whatever legal means available to collect on the judgment obtained.

  3. #3
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Car Chargeoff

    The lender would first have to sue you and get a judgment against you for the amount still owed on the car. Once the lender obtains that judgment then it may attach any income or assets not exempt from attachment under federal and state law, including garnishing a portion of your wages.

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