@Anonymous wrote:My Chapter 7 bankruptcy was filed on 12/10/2019 discharged on 3/11/2019. I chose to reaffirm my vehicle lease, which matured on 8/16/2019.
Staying current on monthly payments was challenging because they stopped sending monthly bills last December - and, because of the bankruptcy, they couldn't accept payment directly, and I had to use a third party (BillMatrix?) system to manually enter my account number. I ended up paying 60+ days late a couple of times, but nothing was ever reported to the credit bureau (good or bad).
I had been working with the local dealership, who said that if I lease with them again, they would waive my last two payments, which is an option I was considering. I ultimately decided not to lease with them again and went with another automotive brand.
When I returned the vehicle in August, I let them know I had a bankruptcy discharged in March and was concerned about credit bureau reporting due to payments owed. They said not to worry about it, and that I would receive a final bill that included the remaining two payments plus the lease discharge fee.
Today, I woke up to a notification that they reported a 60-day late payment to Experian + Transunion, resulting in a -90 point drop to my score, which was already up to ~680 just 6 months post-discharge.
Still, no bills were sent via post or email, no phone calls, etc.
In hindsight, I realize that the moment I decided to not re-lease with them I should have jumped through the necessary hoops to get the amount due paid, and not relied on the dealership folks advice. I'm well aware that's my bad, but I was hoping to that what the dealership folks told me was the case. I was inclined to believe them because the account completely disappeared from my credit report in Dec '18, and hasn't reported since.
I am happy and willing to pay the full amount due, but I want this notice removed from my reports and get my score back up.
What is the best way to go about this?
- Do I call auto company customer service and explain my story?
- Do I send a certified letter to the credit bureaus with the facts and timeline?
- Other options?
Thanks for taking the time to read this and offer help/suggestions!
Once you reaffirm a car you lose online access and the creditors dont report until after DC. You admitted making 60 day lates during this period. Its not a free pass while this is going on. Once it was all over. Then they report again to the CRA's all the months from file date to present. So your kinda stuck with the lates. Really no other way to put it. If you would hve stayed with the same company. Maybe they would have worked with you. But you left them to go with another leasing company and that may have did you in. You can try GW letters. Maybe the only option you have left. Welcome to the forums.
