Auto debt got charged off and I need the Title

[TJay]

Hey everyone! So here is the dilemma...

I have a "charge off" of $400 dated 6 years ago on my credit from an old auto loan. I need my title now, how should I go about contacting the lien holder without resetting the clock on this debt?

Second, what's the best way to contact them? A letter? Email? Phone?

Also, I know this debt has accumulated interest, so, how do I go about negotiating them down?

I need that title, but, I'm afraid of contacting them because I do not want to have this reset for another 7 years on my credit.

I heard if you claim it's your debt or even set up new payment plans to pay off debt, that it can reset for another seven years on your credit report.

Thanks in advance for helpful advice.

-T

[dczech09]

Hey everyone! So here is the dilemma...

I have a "charge off" of $400 dated 6 years ago on my credit from an old auto loan. I need my title now, how should I go about contacting the lien holder without resetting the clock on this debt?

Second, what's the best way to contact them? A letter? Email? Phone?

Also, I know this debt has accumulated interest, so, how do I go about negotiating them down?

I need that title, but, I'm afraid of contacting them because I do not want to have this reset for another 7 years on my credit.

I heard if you claim it's your debt or even set up new payment plans to pay off debt, that it can reset for another seven years on your credit report.

Thanks in advance for helpful advice.

-T

I think we need some more information. What do you need the title for? Do you still have the car? Why wasn't it repossessed if it was charged off? Who has the title? Was it the previous lender? This seems like a very odd situation, so more information is needed.

What I can tell you is this...

Yes, your debt can reset. If you contact the lien holder (I presume your lender) then the statute of limitations can reset and the debt will become collectible once again. This is called "Zombie Debt."

All that is required for a statute of limitations to reset is new activity on the account, or a simple acknowledgement of the debt.

From what it sounds like and what I am guessing...

You will need to pay off the account before the lien holder will release the title to you. In the post you say it was a $400 charge off, which is not a whole lot of money. Could you pay that? Could you pay that with any interest and fees that may have been tacked on? May you could try setting it (if you are not in a financial position to pay off the entire balance)?

Very odd situation. More information would be helpful. Thanks!