The article discusses a Reddit post where a user financed a truck through a credit union that was subsequently acquired by another company. After the acquisition, the user received a notice claiming their loan was paid off, accompanied by their truck's title. However, the user still owed $7,000 on the loan. This highlights the hazards of incorrect loan documentation and cautions against assuming debts are settled without confirmation, emphasizing the potential repercussions on credit health if payments are ignored.
It's best to assume you owe money on your loans until they're actually paid off. Failing to make payments you owe could damage your credit.
The situation illustrates the importance of not assuming loan debts are resolved just because of faulty documentation.
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