Repo Question

[fixmycred14]

I have a repo on CRs from Drive Financial aka Santander. Santander reports $0 and sold to CA Dynamic Recovery. Original loan $17K

CA only reports on EQ

EX - Santander Date First Opened 3/2006, repo 2/08, 30 days 4/07, 7/07-1/08, CO 3/08 $6375

EQ - CA Dynamic Recovery DOFD 12/07; orig amount $6952, $10,428 as of 4/13 -- OC Santander DoFD 5/2007

TU - OC Santander $0 /date of last payment 3/08

How did the amount go from $6375 to $10,428?  If, I can remember correctly; at the time Drive Financial was the OC and the car was sold the amount was less than $6300. How long will this stay on my report? 7 yr + 180? Should I do anything about the discrepancies?

I have a current auto loan due to be paid off by 8/31/13 but w/ high APR and $5K down - 39 mos (which was absurd! dumb things we do when we are desperate ill advised; lack knowledge). I want to be able to secure an auto loan & mortgage eventually (1-1.5 yr) w/o a high APR. How much is this repo hurting my credit?

[RobertEG]

The charge-off was nearly 5 1/2 years ago.  Taking a charge-off does not stay further accrual of interest, provided it is authorized under your account agreement.

Thus, the amount can continue to grow.

Once sold, the debt collector cannot attempt to collect any amount that was not specifically authorized in the account agreement wth the OC that created the debt, or is not othrwise permitted by laws in your state pertaining to debt collectors.  What does your original account agreement state with respect to continued interest and fees?

You might also want to check out the DOFD being reported by the debt collector, as it is later than the DOFD previously reported by the prior debt collector, which is assumed to have been obtained from the OC.  With the account apparently having been continuously delinquent, the DOFD should be fixed, and not vary.

[fixmycred14]

I am not sure what the orig agreement states re interest accrual, etc. I purchased the car in 2006 and have no idea where any of the documentation is. Santander bought out Drive and Dynamic Recovery is the sole CA as of now. I am not even sure the DoFD is correct? How can I verify any of this information? How can I prevent further damage to my score? I am in the process of rebuilding...I am attacking my various CA accounts now. I don't want this repo to continue to prevent me from lower APRs.