Wells Fargo repo

[800scoreaspirations]

Ok, last year my sister bought a new car that turned out to be a lemon.  She had transmission problems with it, and she gave it back to the car dealearship.  I told her that it was not a good idea to do that, but what's done is done.  On her credit report she has a balance of $0 for Wells Fargo, and it states that it was repoed.  It was orginally $9000, but it was transferred.  She has a CA reporting on her report for a balance of $11500 for the vehicle.  Oh btw she is being sued for the vehicle.  I told her before she goes to court, and they enter a judgement against her that she should PFD and offer 25% of the ORGINAL amount owed.  What do you think that she should do?  I want her to get the repo off of her report, because it is going to hurt her in the long run.

[DI]

SInce the CO or Repo is so recent they more than likely not going to settle too quick.  Her best option is to file a complaint with the BBB,  and Attorney General office.  If things doesn't end in her favor after filing the complaints, a payment plan should be the next option. If you payment plan is accepted, and the car is paid off, I would then try to have it deleted from the credit reports. 

I had a repo on my credit reports from a car I cosigned.  The credito never sued me.  The account was xferred to a CA and the OC took the account back.  I filed many complaints against that OC and the CA.  The OC's inhouse CA got the account.  I settled with them.  

After I settled the account, I turned my focus on getting the account deleted from my credit reports.  After a month of going back for forth, I got the OC and the CA to delete the tradelines.   The CRA's played a big factor in my success as well. 

Message Edited by DI on 08-15-2009 11:08 AM

[800scoreaspirations]

What complaints should she file with the BBB?

[907grown]

So great to see your scores after having dealt with both wells fargo and a repo!  I have a wells fargo repo too.  It will fall off next year.  It was paid in full for almost a year before I realized that it was showed unpaid.  I was so mad.  I have just become proactive about my credit and fixing it in the last year.  I was close to a repo with  GMAC last year and said hey, this is crazy, I need to grow up!  No lates with anyone in 12 months!  YAY!  Anyway, I will never deal with wells fargo again, and I have learned to be proactive.  I actually found alot of errors on my report.  Accts reported twice, I disputed and unpaid acct for 716.00 that was reported twice.  It is still being reported twice, but now its being reported as paid....  Not sure what to do....  Don't want to pay it if it was the error of the creditor to say it was paid, but still reported twice!

Current scores are EQ 468, EXP 457 (got this score from my crediy union, thats who they run credit through), TU 518.

[DI]

If you want to file a complaint  about the lemon there is an option for.