What if my vehicle was Repo'd ?

[Sk323i]

I had an Auto Loan with Chase that is currently listed as "Charged-Off" on my TU report. The balance is listed as $0. The Last Payment Made is listed as $9000. The "Orignal Charged-Off" is listed as $7500. My vehicle was repossessed in 09/2011. 

What does this mean? What is the best way in getting this resolved so it does not negatively impact my credit score and no longer appears on my credit report.  

[Skye12329]

Well if its legitimate then its going to be hard to remove. You could try asking Chase if they would remove it if its paid, but that's going to also be tough.

If its not paid and gone to collections you could try asking for a "Pay for Deletion" however it sounds like its been paid from my understanding?

Worst case scenario, you would need to wait out the remaining 3ish years for it fall off.

[Anonymous]

had a repo in 2010. Half the amount of the car had been paid off by me. Thankfully the car paid for itself and I owed nothing back. Nothing but God on that one though.

[Anonymous]

I had a leased vehicle repo'd by Honda Financial in early 2009, three months before the last payment was due.

I went thru their recovery department and paid it back, along with every kind of fee they could dream up.  I ended up paying almost 3 times what was owed.  I think I even paid for new tires and a car wash on the company vehicle their agent drove to report the repo, at least it seems that way.  

I was not able to get it removed from my CRs and no GW on the lates and it is just now getting ready to roll off my reports.

It shows a balance of zero and the remarks show 'sent to recovery, paid settlement' and since it is old, it doenst penalize me a lot anymore.

You may just have to live with it for 7 years like I am, but you can try for GW deletes.  In truth, I only tried GW attempts 3 times in 2 years and then I gave up.  The next one might have worked, I'll never know.

GL

[Dj4Money]

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@Anonymous wrote:

I had a leased vehicle repo'd by Honda Financial in early 2009, three months before the last payment was due.

I went thru their recovery department and paid it back, along with every kind of fee they could dream up.  I ended up paying almost 3 times what was owed.  I think I even paid for new tires and a car wash on the company vehicle their agent drove to report the repo, at least it seems that way.  

I was not able to get it removed from my CRs and no GW on the lates and it is just now getting ready to roll off my reports.

It shows a balance of zero and the remarks show 'sent to recovery, paid settlement' and since it is old, it doenst penalize me a lot anymore.

You may just have to live with it for 7 years like I am, but you can try for GW deletes.  In truth, I only tried GW attempts 3 times in 2 years and then I gave up.  The next one might have worked, I'll never know.

GL

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 This is basiclaly what I am dealing with. The repo is hurting my chances fo trade-in my Hyundai.

[Anonymous]

I had a car repo'd by Chase in 10/2011. They sold the car and I owed about them $2000. Eventually the settled for $500 but I couldnt come up with that. So now my credit report shows me owing them $0. I've tried to do a GW to no avail.. I've tried to go through Chase and the CA. In 2014, I started to repair my credt and managed to get it raised by almost 100 points. I walked into the dealership and walked out with a $18k car with a 7.5 interest rate (with Chase it was 17%). I've been doing wonderfully on the car and I've paid about 6k paid down since Feb. So next Feb. I'll refinance it. I'm just trying to get my util down some before I do. Good luck and keep us posted.