Question by amore: what it means if the credit reported in transunion saying Zero balance?
i have this car repossesion and i check my credit report saying all the debts i have,,its all accurate to all the amount of my credit cards debts but when i read car debts the balance says zero but i know the dealer is asking mr for 11000 more for the difference>>so does it mean its ok not to pay that since it was only reprted as bad debt?
Best answer:
Answer by Caveat Emptor
I doubt that the “dealer” is the one asking. It means the lender charged off the remaining balance on the auto loan after they repo’d the car. They probably sold that debt to a collection agency. Expect to be sued.
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