Leased vehicle was repo'ed now the amount owed increases every month

[plsmithjr]

I leased a used vehicle in 2009 but it was repossessed shortly there after. The MSRP was $19,000, I put down $3,000 and the the payment was $667 or so. I checked my credit before applying for a mortgage and noted that they are now reporting that I owe close to $40,000.00 and says that my past due amout is close $32,000, and that my high credit was almost $25,000.  Is it legal for them to

     1. Charge me for a vehicle that they've repoed and re-leased?

     2. Increase my balance monthly by the amount of payment to even higher than the total of payments would have been?

     3. Report my past due as a number higher than the total of payments?

     4. Report my high credit incorrectly?

This has to be illegal. How do I proceed?    

Here are the details...

Account Number:	XXXXXXXXXXX	Status:	REPOSSESSION
Account Owner:	Individual Account.	High Credit:	$24,689
Type of Account :	Installment	Credit Limit:
Term Duration:	48 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	09/30/2009	Balance:	$38,821
Date Reported:	11/07/2013	Amount Past Due:	$31,904
Date of Last Payment:	02/2010	Actual Payment Amount:	$667
Scheduled Payment Amount:	$667	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	03/2010	Months Reviewed:	46
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:		Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Lease
Date of First Delinquency:	12/2009
Comments:	Involuntary repossession

[MrFlower]

Did they sell the car at auction? Or did they chose to keep it?

What state are you in?

When did it get repossessed?

[plsmithjr]

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@MrFlower wrote:

Did they sell the car at auction? Or did they chose to keep it?

What state are you in?

When did it get repossessed?

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They re-leased the car to someone else

I'm in Texas

March 2010

[guiness56]

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@plsmithjr wrote:

I leased a used vehicle in 2009 but it was repossessed shortly there after. The MSRP was $19,000, I put down $3,000 and the the payment was $667 or so. I checked my credit before applying for a mortgage and noted that they are now reporting that I owe close to $40,000.00 and says that my past due amout is close $32,000, and that my high credit was almost $25,000.  Is it legal for them to

     1. Charge me for a vehicle that they've repoed and re-leased? Yes they can.

     2. Increase my balance monthly by the amount of payment to even higher than the total of payments would have been? Explain what you mean.  Your balance should only increase if they added fees or interest.  They should not be adding your scheduled payment into the balance.

     3. Report my past due as a number higher than the total of payments?Payments missed and behind or total amount if you had continued the lease to the end?

     4. Report my high credit incorrectly?  Not knowingly.  If you brought it to their attention and they found it to be incorrect refused to correct it, then that is a violation.

This has to be illegal. How do I proceed?    

Here are the details...

Account Number:	XXXXXXXXXXX	Status:	REPOSSESSION
Account Owner:	Individual Account.	High Credit:	$24,689
Type of Account :	Installment	Credit Limit:
Term Duration:	48 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	09/30/2009	Balance:	$38,821
Date Reported:	11/07/2013	Amount Past Due:	$31,904
Date of Last Payment:	02/2010	Actual Payment Amount:	$667
Scheduled Payment Amount:	$667	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	03/2010	Months Reviewed:	46
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:		Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Lease
Date of First Delinquency:	12/2009
Comments:	Involuntary repossession

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[thom02099]

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@plsmithjr wrote:

I leased a used vehicle in 2009 but it was repossessed shortly there after. The MSRP was $19,000, I put down $3,000 and the the payment was $667 or so. I checked my credit before applying for a mortgage and noted that they are now reporting that I owe close to $40,000.00 and says that my past due amout is close $32,000, and that my high credit was almost $25,000.  Is it legal for them to

     1. Charge me for a vehicle that they've repoed and re-leased?

     2. Increase my balance monthly by the amount of payment to even higher than the total of payments would have been?

     3. Report my past due as a number higher than the total of payments?

     4. Report my high credit incorrectly?

This has to be illegal. How do I proceed?    

Here are the details...

Account Number:	XXXXXXXXXXX	Status:	REPOSSESSION
Account Owner:	Individual Account.	High Credit:	$24,689
Type of Account :	Installment	Credit Limit:
Term Duration:	48 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	09/30/2009	Balance:	$38,821
Date Reported:	11/07/2013	Amount Past Due:	$31,904
Date of Last Payment:	02/2010	Actual Payment Amount:	$667
Scheduled Payment Amount:	$667	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	03/2010	Months Reviewed:	46
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:		Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Lease
Date of First Delinquency:	12/2009
Comments:	Involuntary repossession

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In my opinion, you really should be talking to an attorney about this.  I think this is likely far more complicated than something that can be answered or resolved on a credit forum.