I bought a 2002 Hyundai Elantra with 40,000 miles on it in 2007, total costing me $22,000. (yep, Drive Time in Orlando, Florida).
I got 6 months behind and one day when pulling my credit report, it showed as Charge Off in Nov. 2007 (while still in my possession) but they actually came and repo'd it December 2007.
Recently I received a letter explaining the amount due $13,000 which was the entire principle plus a reinstatement fee of $3,500 (yeah lemme pull that out of my back pocket) and how to retreive it but I'm not interested in getting the car back. However, I do intend to pay the balance when and if they auction it but as it stands now, can DT Corp go BACK and report it as Repo although it already shows as a charge off on my credit report? I understand that both are bad but does one meaning affect me differently than the other?