topic Re: CitiFiancial Repo (sold to Santander) in Rebuilding Your Credit

CitiFiancial Repo (sold to Santander)

Anonymous — Fri, 15 Jun 2012 20:43:15 GMT

Hello, I have a Citi/Santander CO/repo on my credit reports from 12/2009. It is reporting a balance of $8,567 with a high credit limit OF $27k.

I received a dunning notice from a CA with regards to this account a few months back and I DV'd immediately. I have not heard from the CA or OC since I DV'd them.

Experian and Transunion are reporting a high balance of over $27k, which is way more than ever financed. Equifax is reporting $0 as high credit limit.

Since this is more than 2 years old...what should be my next action? Should I dispute the high balance reporting or just send a verification request?

Any help would be greatly appreciated.

Thanks.

Re: CitiFiancial Repo (sold to Santander)

onquestfor700s — Sat, 16 Jun 2012 14:20:02 GMT

I was on a loan with someone and it was through Citi as well and went to Santander. It go repoed. The amounts on the credit bureaus were crazy wrong. It was from around 2008 or so. I disputed it through all credit bureaus clicked not mine for ownership verification and it was removed from all 3 bureaus. I believe on Equifax and Transunion I had to dispute a few times but it was removed. It was from an ex husband and they were suppose to pay it after we divorced and they didn't.

Re: CitiFiancial Repo (sold to Santander)

Anonymous — Fri, 15 Jun 2012 21:34:22 GMT

was it listed as a joint account and you disputed as "not mine"? Because that is how mine is listed as well. My ex was supposed to continue making payments which obviously didn't happen.

Re: CitiFiancial Repo (sold to Santander)

onquestfor700s — Fri, 15 Jun 2012 21:35:47 GMT

Same boat..not sure if it was listed as joint or not sorry. I believe it was, but not positive.

Re: CitiFiancial Repo (sold to Santander)

llecs — Fri, 15 Jun 2012 21:53:02 GMT

@Anonymous wrote:
Hello, I have a Citi/Santander CO/repo on my credit reports from 12/2009. It is reporting a balance of $8,567 with a high credit limit OF $27k.

I received a dunning notice from a CA with regards to this account a few months back and I DV'd immediately. I have not heard from the CA or OC since I DV'd them.

Experian and Transunion are reporting a high balance of over $27k, which is way more than ever financed. Equifax is reporting $0 as high credit limit.

Since this is more than 2 years old...what should be my next action? Should I dispute the high balance reporting or just send a verification request?

Any help would be greatly appreciated.

Thanks.

OP, don't dispute if [you signed the contract]. Also looks like you are within SOL. Make sure you have 100% saved before doing anything. Sending anything or disputing can increase the odds of being sued. When ready, send another DV, IMO.

Ignore the high balance. It doesn't impact your credit in any way.

Re: CitiFiancial Repo (sold to Santander)

RobertEG — Fri, 15 Jun 2012 23:35:42 GMT

If and when they respond to the request for debt verification, they should provide an itemized listing of the debt, providing your DV requested that.

The case law has consistently held that an itemized listing is necessary to advise the consumer of the asserted debt.

Since you DV'd immediately, I assume that it was timely, and thus that they are now under a cease collection bar until such time as they provide debt verification.

As such, I would not send any further communications to them, as they are technically required to provide verification before having any further correspondence with you.

One DV, if you have record of receipt, does the trick.

I would wait to dispute until you receive an itemized listing, and thus have specifics as the basis for disputing the accuracy of their reporting.

Re: CitiFiancial Repo (sold to Santander)

Anonymous — Sat, 16 Jun 2012 13:23:38 GMT

Thanks RobertEG,

Does the fact that I DV'd the CA (via CMRRR within the 30 days-I have the green card back) cover the OC as well, or can the OC just send account to another collection agency to send me a dunning letter? If so, would I need to DV them as well?

Re: CitiFiancial Repo (sold to Santander)

llecs — Sat, 16 Jun 2012 14:27:12 GMT

@Anonymous wrote:

Does the fact that I DV'd the CA (via CMRRR within the 30 days-I have the green card back) cover the OC as well, or can the OC just send account to another collection agency to send me a dunning letter? If so, would I need to DV them as well?

DV letters can only go to CAs. The current CA can return the debt to the OC who, in turn, can pass it to another CA, or the current CA can sell the debt to another CA if they own it. Ditto on waiting.