Is this a repossession?

[Anonymous]

Hello all,

Long time browser first time poster and I need some clarification on my credit report.  I hope his is the right forums, it was either here or the rebuilding credit forums but since this is a auto loan I am posting here.  

Back in Feb 2004 I hit a tough spot and my car got repossessed. The car went to auction and the bank was able to get the full amount that was owed.  Looking at my credit report it seems clear that this should be listed as a repo however, it is showing as Paid account/was 60 days past due.  I am trying to confirm if this is showing as a repo or just as a late payment and if it matters if it show a repo or late payment in realtion to my FICO score.  Also, if this is just listed as 60 days late, should I leave it or should I try to send GW letters to have the late payments deleted.  If it is indeed showing as a repo, anyone know what the chances are of a CU removing the tradlines with a goodwill letter or should I just let it be and let it age off in another 3.5 years?

Status as of: Feb, 2004
Date opened: May, 2001
Date of last activity: Feb, 2004
Date of last payment: Not Reported
Date closed: Not Reported
Account number: XXXXXXXX0000
Loan type: Auto Loan
Credit limit: Not Reported
Largest past balance: Not Reported
Terms: 47 Months
Account Type: Installment
Account holder: Individual
Scheduled payment amount: Not Reported

Descriptions: None on Record

Balance: Not Reported
Current Status: Paid account/was 60 days past due date
Past Due Amount: Not Reported

Seven year payment history
30 days late 1 time (Dec 2003)
60 days late 1 time (Jan 2004)
90+ days late 0 times

Worst Delinquency: 60 days delinquent 

Thanks!

[Anonymous]

This report isn't showing a repo and I'd take the late payments over a repo reporting since you'd take a greater loss of points with a repo. If you know your branch manager well, you may have success getting the lates gw's. Do all 3 Cr's show this as a late & not a repo? Most Cu's follow the book where the CRA are concerned but it certainly wouldn't hurt to try the gw letter. Good Luck with it!

[settleordelete]

THE MOST IMPORTANT THING HERE IS THAT THE ACCOUNT IS BEING REPORTED AS  PAID ALTHOUGH IT WAS LATE TWICE. ANOTHER THING TO KEEP IN MIND IS THAT ONCE A REPO GETS PAST A CERTAIN NUMBER OF YEARS IT BECOMES WEAKER TOWARDS THE FICO AS LONG AS SOME OTHER ACCOUNTS ARE IN GOOD STANDING. PLUS SOME STRONGER MORE POPULAR DEALERS CAN SOMEHOW WIELD THERE MAGIC AND GET YOU A LOAN ON JUST ABOUT ANY CAR YOU WANT REGARDLESS OF REPO STATUS. I KNOW SEVERAL PEOPLE WITH MULTIPLE REPOS AND ARE NOW RIDING IN MUCH, MUCH BETTER VEHICLES THAN THEY WERE BEFORE. FINALLY I WOULD LET THAT GOODWILL LETTER SIMMER UNTIL YOU CAN CONFIRM WHATS BEING REPORTED AS ACCURATE.