topic Re: Charged off Account from Bridgecrest showing as a Repossession in Rebuilding Your Credit

Charged off Account from Bridgecrest showing as a Repossession

superlloyd — Tue, 08 Oct 2024 22:21:09 GMT

I have an account from Bridgecrest that is reported as in repossession each month. Even though it was repossessed (I actually delivered it myself) over two years ago. I confirmed with their collections department that they have charged it off. They also tols me that they are reporting it accurately and that the CAs just show it as a repossession.

I have gone back and forth six times on this. It is the only thing keeping me from gettign a mortgage after 18 months of impriving my credit. Does anyone have any insight on this or has been able to get this type of thing remedied?

Re: Charged off Account from Bridgecrest showing as a Repossession

GZG — Wed, 09 Oct 2024 03:51:40 GMT

@superlloyd wrote:
I have an account from Bridgecrest that is reported as in repossession each month. Even though it was repossessed (I actually delivered it myself) over two years ago. I confirmed with their collections department that they have charged it off. They also tols me that they are reporting it accurately and that the CAs just show it as a repossession.

I have gone back and forth six times on this. It is the only thing keeping me from gettign a mortgage after 18 months of impriving my credit. Does anyone have any insight on this or has been able to get this type of thing remedied?

so it was a voluntary reposession, they presumably sold the car, did it cover your remaining balance?

did you get a notice for how much they sold the car for?

you're responsible for the difference between what they sell it for and what you still owe on the loan, and they continue to report you monthly as a CO until you cover that difference

if you want it to stop reporting, you need to wait out the 7 years or pay off the difference so the balance is $0

Re: Charged off Account from Bridgecrest showing as a Repossession

JoeRockhead — Wed, 09 Oct 2024 08:54:02 GMT

The Repo notation reporting would be accurate, regardless of a remaining balance. Other than getting a GW removal, it can stay reported that way for 7 years from the DOFD.

Re: Charged off Account from Bridgecrest showing as a Repossession

superlloyd — Tue, 22 Oct 2024 17:24:03 GMT

It's not the fact that repo is there, it is that charge off was not.

I was able to get this fixed by getting a document saying it was charged off from Bridgecrest then having my mortgage lender contact the credit reports to have it manually changed. Bridgcrest was just reporting it wrong, burying the charge off.

Re: Charged off Account from Bridgecrest showing as a Repossession

duvallwatsonjr — Thu, 19 Dec 2024 22:15:22 GMT

I'm going through this now and the lender wont qualify me because of it. My credit report is showing as the bridgecrest account as a closed account with a balance / reposession. However every time I call Bridgecrect they transfer me to the charge off department. The charge off department wont tell me anything about the account becuase they sent it to collections. How were you able to convince Bridgecrest to send you a letter stating the debt has been charged off?