Old Auto Loan

[Anonymous]

Hello,

This is my first time posting and I hope I'm doing it in the right forum.  My situation is I have an old auto loan (2003) that I got with my ex and he kept the car (he was the co-signer) Well he never made the payments and neither did I.  I have no idea where he is and I moved to another state.  Apparently he may still have the car since it shows on my CR as a redeemed repossesion, unable to locate consumer.  Can this finance company keep making inquiries?  They do so about 4 times a year and shows as a hard hit on my CR.  I'm not too savyy on the rules for this.  Can someone educate me?

Thanks!

[Anonymous]

You are fortunate they haven't attached your pay by now.  You can be held fully responsible for the loan, with or without the car. 

The word here is can, now the loan is not old.  Most likely it can stay on your report at CR discretion well beyond the Fair Credit Guidelines. (like 15-20 years)

You will want to start writing letters explaining the situation and how you can get this off your  record.  Use the Fair Credit Reporting Act as a guideline, but understand that nobody fully complies with it.

If you happen to know where he is, that might be valuable like a PFD.

Overall, the best you can do is write to at least possibly improve how its reported and the impact on you personally.

Good Luck