Port Huron, MI asked in Banking, Consumer Law and Contracts for Michigan

Q: If a company discharges a debt can they still come after you for the money ?

This was a car lease that was repossessed and I recently found out they have discharged the loan

1 Lawyer Answer
Thomas. R. Morris
Thomas. R. Morris
  • Business Law Lawyer
  • Farmington Hills, MI
  • Licensed in Michigan

A: Quite possibly. I don't know what you mean by the creditor "discharging" the loan. That's probably not the proper term. If the creditor "wrote off" the debt, it is no longer carried as an asset on its books, but the act of writing it off (which also goes by other names) does not extinguish the debt.

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