Toyota Financial Redeemed Repossession (UPDATED)

Anonymous · ‎04-08-2015

Hello All, I'm hoping that I can get somewhere with a Toyota Financial Redeemed Repossession listed on my reports. Here's the story in a nut shell. In 4/2010 the Repo happened (dumb kid), and less than 12 hours later I pay off the full amount of the loan and recieved the car and title. Fast foward to this year and I have started my credit journey, and it the ONLY baddie on my reports. I have sent letters and faxes to Toyota asking for a GW change from "reedemed" to PIF. I recieved a letter a week later wich is just a copy of the one I got in 2010 stating that the loan has been paid.

I want to know if anyone has gotten Toyota Financial to chage a reedemed repo to PIF, if so how did you do it?

Is there anything I can do to have it removed like an EX even though I have two more years until it falls off?

Are there any back channeles I can take with Toyota?

Am I barking up the wrong tree?

ANY help or encouragement is appreciated. I love you all. (For real, this forum has really changed my life)

gdale6 · ‎04-08-2015

@Anonymous wrote:
Hello All, I'm hoping that I can get somewhere with a Toyota Financial Redeemed Repossession listed on my reports. Here's the story in a nut shell. In 4/2010 the Repo happened (dumb kid), and less than 12 hours later I pay off the full amount of the loan and recieved the car and title. Fast foward to this year and I have started my credit journey, and it the ONLY baddie on my reports. I have sent letters and faxes to Toyota asking for a GW change from "reedemed" to PIF. I recieved a letter a week later wich is just a copy of the one I got in 2010 stating that the loan has been paid.

I want to know if anyone has gotten Toyota Financial to chage a reedemed repo to PIF, if so how did you do it?
Is there anything I can do to have it removed like an EX even though I have two more years until it falls off?
Are there any back channeles I can take with Toyota?
Am I barking up the wrong tree?

ANY help or encouragement is appreciated. I love you all. (For real, this forum has really changed my life)

Not going to happen, once its a repo or repo redeemed its always such, they only thing you can do with this TL is request it be removed via GW letters. I would be sending them to the CEO of Toyota Financial. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Anonymous · ‎05-23-2015

So I set a GW letter to a few departments including the CEO of Toyota Financial Services asking for a delete of my repo 1 year early. I plead my case as best I could. I was very surprised when I received a letter (a month later). It wasn't a stock letter, it reiterated a lot of information that I put in the original letter and was actually signed in pen!

Unfortunately TFS wont "delete" the account. I got the "we are required to report accurate information" explanation. Even though I appreciate the custom letter and the individual attention I got, is there anything else I can do? Should I send follow-up letter telling them that they can legally delete the redeemed repo or do I wait it out until 2017 when it should age off my report? I thought about sending a thank you letter anyway so is adding any legal reference to GW removals a good idea or does it come off as passive aggressive?

Any advice would be much appreciated!

Anonymous · ‎05-23-2015

Also any legal sighing of GW delete information would be nice to have.

RobertEG · ‎05-23-2015

They are not mutually exclusive.

If you paid, then they were requred to have reported paid. The account should show paid, $0.

What you are seeking is deletion of the reporting of the repo adverse item.

I would suggest making a call to a management official higher up in the chain.

Anonymous · ‎05-23-2015

The debt is showing a paid balance of zero owed, but it is still categorized as a "redeemed repossession". Also, who higher can I go than the CEO and the Executive Administrator?

Anonymous · ‎02-26-2016

Hello! Did you ever get this resolved? I am trying to buy a home in the next year and I have a red rep from 2010 that still keeps me from some approvals. Any advice?

Anonymous · ‎10-20-2016

Anyone had any results with the redeemed repossession?