Auto Repossession

[pls0319]

Way back in 2001, after a lengthy battle with a car dealership/financier over a lemon that they refused to repair (although I had purchased their "in house" warranty)I had a verbal agreement to return the car as payment in full. Now, I see that it is listed as a repo on my CR, in the amount of 3118.00 (have no idea how they came up with that figure). My question is what date will this "fall off" my CR? The SOL for my state is 6 years. There was no judgment and there are no late payments listed. The date the account was opened is listed as Nov 2000, date last payment is listed as Oct 2001 and the date account closed is listed as Apr 2006. Thank you all, in advance, for your input. Pamela

[pls0319]

Bump

[Anonymous]

I would definitly dispute the date because it'll hang around for 7 years. I had one on my report - a car my ex was supposed to pay for and didn't. Mines been listed as a settlement for 4 years. I've sent a GW letter in hopes of getting it dumped.

[Tuscani]

Welcome.. Please read the Scoring 101 thread.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[pls0319]

Thanks Tuscani ... I did read the thread you suggested. I am still curious, however, as to when I can expect that the repossession will no longer be reported ... is it 6 years (SOL in my state) from the date the account/loan was opened, date of the last payment on the account, or the date the account closed? Thanks Pamela

[Tuscani]

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=8713