@Anonymous wrote:
I had a voluntary repo 3 years ago. On my credit it shows a $0 balance and a open auto. Mind you it has been 3 years. It has been 2 years since I last spoke to the lender. Since it shows as an open auto it will remain on my credit until it shows as a closed account. Then it will fall off after 7 years. Is there a way to have it show as a closed account and or be taken off my credit report? I am not sure what my options are and as you all may be thinking, if I contact them the time to be sued starts all over if there is in fact a balance. Any suggestions on what to do? I've looked online everywhere for the past year trying to find out what the best course of action. I've also been working on my credit and have it in good standing. I do not want them to report it as a repo although I know that is most likely what will happen. Is there a law that they are violating? What is the best course of action. If I remember correctly the lender has 3 years from last contact to build a case. After 3 years of no contact with me they cannot sue for the remaining amount. My biggest question really is are they violating any laws by keeping it on my credit as a open auto the car was sold at auction 3 years ago and shows a $0 balance on my credit report?
A repo and voluntary repo is the same. It's a good thing it's actually paid off. U just gotta make sure it is indeed paid. Meaning there was enough in the auction sale to cover debt owe on vehicle. Most time it doesn't. If it doesn't and u call and pull it up they might come after u for the balance as they see ur trying to build credit
