@StartingOver10 wrote:
@dawnm72174 wrote:Could this inaccurate remark be one reason why hubby and I are having a hard time getting a lower refinance rate than 8%? This particular car was used as a trade in last April. It had a 100% perfect payment history, as does our current loan. Our Auto FICO scores are 670-690.
I've tried calling the lender to have it corrected but the number is no longer good. Even after diligently searching I'm unable to find any info on who took over the loans. We're at a loss because we don't want this account that we closed in good standing with a perfect payment history to be deleted after a dispute but we also don't want the record to reflect that we 'voluntarily surrendered' the vehicle because that was NOT the case.
What would you do?
Date Opened: 07/23/2014 Responsibility: Individual Account Account Type: Installment Account Loan Type: AUTOMOBILE
Date Updated: 06/19/2015 Payment Received: $0 Last Payment Made: 06/19/2015
Pay Status: Current; Paid or Paying as Agreed Terms: $421 per month, paid Monthly for 42 months Date Closed: 06/19/2015
High Balance: High balance of $12,337 from 08/2014 to 03/2015; $12,337 from 05/2015 to 06/2015 Remarks: VOLUNTARY SURRENDER ^^^Yes, that "voluntary surrender" is a repo remark. It absolutely would account for the reason you have difficulty getting a good rate and would account for a ding against your scores.
Did you trade in the vehicle or did you really have a repo? If you traded the vehicle, then either the dealership had it repo'ed rather than paying it off or there was an error in your account.
It was traded in on April 28, '15 and the dealer mailed the payment to previous creditor April 29, '15. We live in a very small town so I was able to watch the progression as my old car was put on the used lot then sold 3 days later. I still see her every so often driving down the road
Since you can't reach the lender that had your loan, I would gather all your payments and the contract showing the trade and file a complaint with the CFPB.
I had an oil change at the dealership scheduled today so, while I was there, I explained the situation to the dealer's loan person (official title?). He looked up our info, had me wait a few minutes, and brought me a copy of the check, front and back showing endorsement in early May '15. I hope that was a good move because I can submit it as evidence, along with the contract and the records of our payments showing this was not a repo in any sense of the word.
If I file a complaint with the CFPB and the lender doesn't respond, where should I go from there? Dispute directly with the CRA's?
Thank you so much StartingOver for this and any future responses to my question(s).
After looking much closer, I think we're just going to take our chances and dispute with the CRA's. Besides the remark being wrong, there are other inaccuracies too. Payment history being one of them. OUR last payment was in April (I have statements for proof of ALL payments) and the payoff from our dealership was cashed in May. No payment made in June.
I don't know how they got the amount paid figures other than I paid weekly and it always added up to being over the minimum monthly payment of 420.69. My usual weekly payment was $150 because I wanted to give them as little money as possible in interest (21% because we got the car with NO credit.)
Dispute completed and here's the results:
No longer says voluntary surrender!!!! Payment history still not completely correct but we'll take it. So happy this is fixed 
@dawnm72174 wrote:Dispute completed and here's the results:
No longer says voluntary surrender!!!! Payment history still not completely correct but we'll take it. So happy this is fixed
did your scores go up after this was deleted? Good job by the way!
Yea! Congratulations for getting the problem solved!
@dawnm72174 wrote:Dispute completed and here's the results:
No longer says voluntary surrender!!!! Payment history still not completely correct but we'll take it. So happy this is fixed
Congrats!!!
Great work OP!!!!
