Can't get an auto loan or CC because a CA is collecting on a repo, but dating it in 4/07 when the repo was 11/04. I *think* they are re-aging, but I'm not sure...
Here's the Credit Report info:
**(actual repo loan info, listed in accounts in MyFico)**
creditco Acct#XXXX 7/2003 $0 Repossession
Date opened [?] Jul, 2003
Date of last activity [?] Sep, 2004
Account transferred or sold
**(And here's what it shows in Collections for the repo in question
**
Current balance (as of Apr 01,2007) [?] $$$$$$
Status (as of Apr 01, 2007) [?] Unpaid
Date assigned [?] Mar 01, 2007
Date reported [?] Apr 01, 2007
Date last active [?] Dec 01, 2004
Note that the "date last active" on the collection is *approximately* correct. I think the actual "bad" date was 10/04, not 12/04, and note that the real repo info states 9/04 as last active date. On that basis I think I can DV / Dispute for incorrect reporting.
The problem I'm encountering is that any credit pulls see the date reported of April '07 as a NEW REPO on April '07, so I have to get rid of this thing on my report. That's utterly incorrect.
The question is: Is this re-aging? If so (or if not), what is my best Dispute reason for the CRA's while I am DV'ing?
Thanks all!
Here's the Credit Report info:
**(actual repo loan info, listed in accounts in MyFico)**
creditco Acct#XXXX 7/2003 $0 Repossession
Date opened [?] Jul, 2003
Date of last activity [?] Sep, 2004
Account transferred or sold
**(And here's what it shows in Collections for the repo in question
**Current balance (as of Apr 01,2007) [?] $$$$$$
Status (as of Apr 01, 2007) [?] Unpaid
Date assigned [?] Mar 01, 2007
Date reported [?] Apr 01, 2007
Date last active [?] Dec 01, 2004
Note that the "date last active" on the collection is *approximately* correct. I think the actual "bad" date was 10/04, not 12/04, and note that the real repo info states 9/04 as last active date. On that basis I think I can DV / Dispute for incorrect reporting.
The problem I'm encountering is that any credit pulls see the date reported of April '07 as a NEW REPO on April '07, so I have to get rid of this thing on my report. That's utterly incorrect.
The question is: Is this re-aging? If so (or if not), what is my best Dispute reason for the CRA's while I am DV'ing?
Thanks all!
@SmartCookie wrote:Print your reports and show them to the dealers who are checking your Auto Scores while you've got that INQ running... you have 2 weeks from the 1st one. I personally would have DV'd and disputed anything not accurate beforehand.Ask them what items and info are differing. I don't know why they would differ because they run off of the same info. Dealers should be seeing that OC has a 0 balance and it is now with a CA. They will see differing DOLAs but they see small inaccuracies like that all the time and should be looking at all the info, balance included. Ask for a manager if the rep is not understanding what they are looking at. See if they will give you a copy... don't expect it though.Still, DV CA and dispute both for multiple account inaccuracies. See if that corrects the info at the very least and if it does not, consider MOVs on the disputes and gather supporting paperwork.
I didn't know this was reporting so inaccurately, or else I wouldn't have applied for the loan.
My CU came back with a decline, as did roadloans. Their reason was "repossession date too recent". When asked what the most recent repo date was, they replied "April 2007". Funny how I managed to get a car repo when I own only a bicycle!
@I printed up my report and took it to the finance guy @ dealer, and he says he'll "try" to explain to the lenders as he can "see the logic in what I'm saying". His other choice quote was "the problem is that this could be 2 repos on 2 different drivetime (OC) accounts, and they have no proof otherwise."
Thanks for the help!
