Car Repo: Anyone out there??

[Anonymous]

Ugg. My car was repossessed in November 2007. Luckily I was able to pay the balance of my loan the next day and got my car back. As a 27-year-old professional with a steady and (sort of) well paying job, this is a situation I never expected to be in. I was going through a tough time financially but have since recovered.

Has anyone out there had any luck recovering from a car repo??? Any chance I could get it off my report in less than 7 years?? What's the best thing I can do to recover from this???

[Anonymous]

Since you have paid off the loan and gotten your car back, your best option is to send a GW letter to the creditor asking to have the negative information removed from your report. In the letter explain the temprorary financial circumstances and that you have learned never to let that happen again.

Good Luck.

[llecs]

I've been there too. I was only late by 1 or 2 stinkin' payments and they took the car. They allowed me to pay that one payment and the next payment and the assoc. fees and I got the car back. I then had to continue the loan as planned until paid off. Unfortunately, a repo hurts.

I did send GWs galore. Americredit dropped the repo reference on two reports and kept the lates. The other report kept the repo reference and dropped the lates.

Also, study your lates on your CR. If you disagree with the lates reporting and could prove it, then try disputing.

[Anonymous]

Thank you!!! I'll give the GW letters a try! How many should I send?