Hello everyone,
I need some help or guidance with a repossession on my Equifax credit report. Back in 08 when I purchased my car it was repo'd before I completed 1 year with the car. I redeemed back my car and paid on time ever since till I finished paying it this year. On my EQ reports of the previous years up until I finished paying off my car the status was listed as "Pays As Agreed" with payment history being correct inlcuding the late payments. The comments read "Redeemed or reinstated repossession."
After the loan was paid off the status changed from "Pays As Agreed" to "Repossession" and the comments changed to "Paid repossession." I filed a dispute with EQ to verify the info. I feel that the status "Repossession" is incorrect and should be changed to "Pays As Agreed." However, after the dispute the status remains as "Repossession" and the comments changed back to "Redeemed or reinstated repossession."
Am I correct in the status being incorrect and should be changed to "Pays As Agreed?" If so, would this be a GW letter type situation to the creditor which is Chase? Or would this NOT be a GW situation and I should send a letter to Chase that they correct it since it is not reporting correctly?
Want to thank you all in advance and greatly appreciate any of your help!
