Reply
Contributor
ccoaston
Posts: 75
Registered: ‎10-28-2010
0

REVISED: What should I do with this auto loan I had. they have car.

[ Edited ]

I was the secondary person on this car and my ex was the main person. I went away for a little bit and she got the car repoed. What must I do at this point. I didnt want to call them. We only had the car for about a year and a few months


Starting Score: 700
Current Score: 754
Goal Score: 800


Take the FICO Fitness Challenge
CapitalOne - 1k
Barclay - 3.8k
Chase Freedom - 2k
Citi Bank diamond perffered - 5k
Discover - 5k
Amex blue cash perffered - 2k
Contributor
ccoaston
Posts: 75
Registered: ‎10-28-2010
0

Re: What should I do with this auto loan I had. they have car.

HSBC AUTO           -
-     -     -     -     -
-     Account No.:     500001****     5000010092****      5000010092****
-     Condition:     Derogatory     Closed (Transferred)     Derogatory
-     Balance:     $0           $0
-     Type:     Auto Loan     Auto Loan     
-     Pay Status:     Collection/Chargeoff     Collection/Chargeoff     Collection/Chargeoff
-     Past Due:     $0           
-     High Balance:     $17945     $17945     
-     Terms:     72 months     72 months     
-     Limit:                 
-     Payment:     $399           $399
-     Opened:     04/18/2005     04/2005     04/2005
-     Reported:     02/11/2010     08/31/2007     02/2010
-     Responsibility:     Joint     Joint     Joint
    
Late Payments (last 7 years):
      30 Days Late:           4     3
      60 Days Late:           1     1
      90 Days Late:           2     7
                
    Two Year Payment History:         
    
TrasUnion ==XXXX-XX-XX

Experian ==2007-08-31
Equifax ==2010-01-XX    
    Remarks:
    [TransUnion] Charged off as bad debt
Account information disputed by consumer, meets FCRA requirements  
    [Experian] Purchased by a another lender.
Unpaid balance reported as a loss by credit grantor.  
    [Equifax] Consumer disputes this account information
Account transferred or sold 

 

 

 

 

THIS IS THE INFO ON IT...SORRY


Starting Score: 700
Current Score: 754
Goal Score: 800


Take the FICO Fitness Challenge
CapitalOne - 1k
Barclay - 3.8k
Chase Freedom - 2k
Citi Bank diamond perffered - 5k
Discover - 5k
Amex blue cash perffered - 2k
Contributor
ccoaston
Posts: 75
Registered: ‎10-28-2010
0

Re: What should I do with this auto loan I had. they have car.

BUMP


Starting Score: 700
Current Score: 754
Goal Score: 800


Take the FICO Fitness Challenge
CapitalOne - 1k
Barclay - 3.8k
Chase Freedom - 2k
Citi Bank diamond perffered - 5k
Discover - 5k
Amex blue cash perffered - 2k
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: REVISED: What should I do with this auto loan I had. they have car.

[ Edited ]

ccoaston wrote:

I was the secondary person on this car and my ex was the main person. I went away for a little bit and she got the car repoed. What must I do at this point. I didnt want to call them. We only had the car for about a year and a few months


Depends on what you want to do.  As a signer on the note you are ultimately responsible.

 

What state are you in and when did the car loan first go delinquent?

IAALBNYL
Contributor
ccoaston
Posts: 75
Registered: ‎10-28-2010
0

Re: REVISED: What should I do with this auto loan I had. they have car.

Im in Pittsburgh, PA and the loan went delinquent in 06 of October 06. They already have the car. I havnt spoken to them since. Due to certin curcumstances I was unable to contact them . I was in exile. Now I want to get a mortgage.


Starting Score: 700
Current Score: 754
Goal Score: 800


Take the FICO Fitness Challenge
CapitalOne - 1k
Barclay - 3.8k
Chase Freedom - 2k
Citi Bank diamond perffered - 5k
Discover - 5k
Amex blue cash perffered - 2k
Contributor
ccoaston
Posts: 75
Registered: ‎10-28-2010
0

Re: REVISED: What should I do with this auto loan I had. they have car.

bump


Starting Score: 700
Current Score: 754
Goal Score: 800


Take the FICO Fitness Challenge
CapitalOne - 1k
Barclay - 3.8k
Chase Freedom - 2k
Citi Bank diamond perffered - 5k
Discover - 5k
Amex blue cash perffered - 2k
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
0

Re: REVISED: What should I do with this auto loan I had. they have car.

[ Edited ]

OP, do you know the balance? Could you pay this debt in full if you had to?

 

ETA....do you know the DOFD? When was it repo'd (exact answer is really needed here)?

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: REVISED: What should I do with this auto loan I had. they have car.


ccoaston wrote:

Im in Pittsburgh, PA and the loan went delinquent in 06 of October 06. They already have the car. I havnt spoken to them since. Due to certin curcumstances I was unable to contact them . I was in exile. Now I want to get a mortgage.


It looks like the statute of limitations is 4 years for written contracts under seal in PA so it looks like they cannot sue you.  The deficiency created with the repo, though, may be another matter. 

 

The bad news is that it can remain on your credit report for up to 7.5 years and that isn't going to help your mortgage approval.  You might have to contact them and see about either a settlement for less than the amount owed, a payment plan or else payment in full.

IAALBNYL

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+