Gmac Ally Lease Milleage Charge offs help

[mandaiaybay]

Hi would like some help with this problem, i had a gmac auto lease in 2005 for 4 years, had late payments on and off, my lease ended in jan 2009, prior to that tried to buy the car but my credit was bad in 2008 and gmac would not offer to finace me, so when we returned the vehicle we bough it under my sisters name which we live toghther, for the past 5 years gmac has sent to collection for lease over charges, many times tried to explain to them that we bought the car either way why pay for milleage charges 0.25 for 2670.00. but either way they wont budge i filed bbb complaints got no where. today tried to talk to there senior rep aggred over the phone to make 6 month payments to pay off the whole thing to get this resovled but they wont agree to remove the charge off stauts only said after being paid it will be was charged paid in full. my question is so i cancel the aggrement because it will fall of in 2015 off my reports i worried its going to renew the date so it will be another 7 years after this year. pfd wont work tried one time got ignored. if i made the aggrement today will it affect my reports that im going to make payments if i dont and let it age. any advice would be apperciated thanks.

[Creditaddict]

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@mandaiaybay wrote:

Hi would like some help with this problem, i had a gmac auto lease in 2005 for 4 years, had late payments on and off, my lease ended in jan 2009, prior to that tried to buy the car but my credit was bad in 2008 and gmac would not offer to finace me, so when we returned the vehicle we bough it under my sisters name which we live toghther, for the past 5 years gmac has sent to collection for lease over charges, many times tried to explain to them that we bought the car either way why pay for milleage charges 0.25 for 2670.00. but either way they wont budge i filed bbb complaints got no where. today tried to talk to there senior rep aggred over the phone to make 6 month payments to pay off the whole thing to get this resovled but they wont agree to remove the charge off stauts only said after being paid it will be was charged paid in full. my question is so i cancel the aggrement because it will fall of in 2015 off my reports i worried its going to renew the date so it will be another 7 years after this year. pfd wont work tried one time got ignored. if i made the aggrement today will it affect my reports that im going to make payments if i dont and let it age. any advice would be apperciated thanks.

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so you turned the vehicle in where?

your sister then bought from where?

who did she finance with?

Did she buy it for your payoff or for a different amount?

[mandaiaybay]

Turned it back to the dealer, she bought back from the dealer  1 days later payed the 15000 of what was left that was the difference.  the dealer basically got it as dealer inventory and sold it right back to her for 15000.00 no financing half cash half credit card

[pizzadude]

Moved to Rebuilding forum

[Creditaddict]

OUCH you took it on both sides of this deal bad.

the point of buying a lease is to avoid the fees.

if you are not going to avoid the fees... buying it after a lease as a different person should probably warrant a better price... id be VERY suyrprised if the car was worth the full $15k right out of the lease... especially considering that the dealership didn't do ANYTHING to the car, making it certified or something like it probably would have been done if it went through the whole process and then sold to someone.

just for being B's to you they should have waived the fees... that's just greed and the kind of company I don't want to do business with (happens way to often though, not with just cars) but someone took advantage of your mistakes in this one. sorry... 

I WOULD NOT PAY A DIME and let it age off at this point.

[mandaiaybay]

thanks i think im gonna let it age. should i call them back and cancel the payment aggrement or just ignored it?

[RobertEG]

They assert you owe a debt.  You assert that you dont.

So until that is resolved, you will continue to have the issue of an asserted delinquent debt.

Credit report exclusion will not resolve that issue.  It will only prevent others from becoming aware of the unpaid debt via a pull of your credit report.

It will remain, and if asked in subsequent appllications for credit for disclosure of any unpaid delinquent debt, neither your disagreement over the debt nor credit report exclusion would be basis for stating that you have no delinquent debt.

It would be worth the effort to get your disagreement legally resolved.

If you contest the debt, you can bring civil action to resolve the matter.  If successful, then the debt is gone.