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Repo no longer reporting?

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Anonymous
Not applicable

Repo no longer reporting?

I have a reposession on my file from 2 years ago. They did not ever send me a notice regarding the date of sale on the vehicle either. I know I can't dispute it because the debt is mine and I know this but there is over a $4,000 difference between Transunion and Equifax regarding the amount that was charged off on the vehicle. I was curious as to why the change and it says that the company last reported to Equifax in June of 2016? So I'm assuming the amount just hasn't changed because they stopped reporting? Is this normal?
Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Repo no longer reporting?

I would reconsider your conclusion that you have no basis for a dispute.

A dispute is not limited only to the legitimacy of the debt per se.  It can relate the accuracy of any item of information that has been reported.

The amount of the current debt balance can be the subject of dispute without asserting that there is not debt at all.

 

A furnisher assumes the obligation, once they report information, to promptly update that information as necessary to maintain its current accuracy.  FCRA 623(a)(2).  thus, they cannot, if info changes, simply neglect to update.

 

If you have documentation that the vehicle was sold, then you have basis for a dispute of the accuracy of the current debt balance, which should represent only the net debt after sale of the vehicle.

Message 2 of 3
Anonymous
Not applicable

Re: Repo no longer reporting?

I do you not have the paper stating the sale amount anymore. It got lost during my move. I know the amount I owed on the vehicle was $10,200 and the form said it only sold for $1,000. I am afraid to contact the company for another form because I do not want to re-open anything. I'm pretty much out of options now, right?
Message 3 of 3
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