https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Repossession-Help/m-p/1068030#M154723 <P>I recently had a repossession back in 3/2010. The current balance on the account is the same as it was before the repo.&nbsp; My understanding that once the car is repoed the company is suppose to contact you within 10 days of the car being sold (it didn't happen).&nbsp; Also the balance should reflect the difference from what the car was sold for.&nbsp; I still have the same balance and I have not been contacted by Santander since the repo.&nbsp;</P><P>&nbsp;</P><P>Right now I'm trying to resolved this issue for the least amount of money possible.&nbsp; My orginal balance was 17k and I owe 12k not including was should have been subtracted from the car sale.&nbsp; I just recently sent Santander a certfied letter asking them to verify the debt, and I'm still awaiting to hear back from them.&nbsp; On my credit reports it does show the account was charged off.&nbsp; So I'm guessing that they will contact me verifying everything. So when they do how do you suggest I resolve this issue?&nbsp; I will have about 6k to negotigate with as a one time lump sum, however I want to save as much money as possible.&nbsp;</P><P>&nbsp;</P><P>I have also talked to a lawyer about this, he stated since I was never contacted about the sale of the car, I can sue to have it removed from my report. However he wasn't $1000 to fight this battle for me.&nbsp; What do you guys think?&nbsp;</P><P>&nbsp;</P><P>&nbsp;</P> Mon, 31 Oct 2011 20:38:25 GMT RustyRico 2011-10-31T20:38:25Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Repossession-Help/m-p/1068030#M154723 <P>I recently had a repossession back in 3/2010. The current balance on the account is the same as it was before the repo.&nbsp; My understanding that once the car is repoed the company is suppose to contact you within 10 days of the car being sold (it didn't happen).&nbsp; Also the balance should reflect the difference from what the car was sold for.&nbsp; I still have the same balance and I have not been contacted by Santander since the repo.&nbsp;</P><P>&nbsp;</P><P>Right now I'm trying to resolved this issue for the least amount of money possible.&nbsp; My orginal balance was 17k and I owe 12k not including was should have been subtracted from the car sale.&nbsp; I just recently sent Santander a certfied letter asking them to verify the debt, and I'm still awaiting to hear back from them.&nbsp; On my credit reports it does show the account was charged off.&nbsp; So I'm guessing that they will contact me verifying everything. So when they do how do you suggest I resolve this issue?&nbsp; I will have about 6k to negotigate with as a one time lump sum, however I want to save as much money as possible.&nbsp;</P><P>&nbsp;</P><P>I have also talked to a lawyer about this, he stated since I was never contacted about the sale of the car, I can sue to have it removed from my report. However he wasn't $1000 to fight this battle for me.&nbsp; What do you guys think?&nbsp;</P><P>&nbsp;</P><P>&nbsp;</P> Mon, 31 Oct 2011 20:38:25 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Repossession-Help/m-p/1068030#M154723 RustyRico 2011-10-31T20:38:25Z