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This sounds like a cop out but:
Your state may have some rules or regs that can help you out. You may want spend a hundred to talk to a lawyer who specialises in situations like this.
If it was me, I would send a copy of the letter from the bank that shows the loan was paid off in full and a copy of the title of the truck to the credit bureau's.
In your cover letter/dispute, I would suggest that a mistake had been made. How could you possibly own, free and clear, the very truck that they said was repo'd?
Then ask the credit bureau's to remove the repo.
Sometimes, logic and facts will influence the person at the credit bureau. The paid in full letter and the title look to be a "duh...wonder what happened?"
Worth a shot. Keep your letter simple. Keep it honest. Say that a mistake might have been made...
Yes a repossession can be removed from your credit reports. I got a repo I cosigned for removed back in July with the CA and OC. And since it was my brother who I cosigned for, I made sure I got the repo removed from his reports too.
It took a month or going back in forth with the OC and CA to get the tradelines deleted. Fortunately, I had plenty of time on my hands over the summer.
DI,
Please specify how you started the process and how it ended. My husband and I are in a situation where we are going to need to fight this. We purchased a vehicle from a dealership and within a few days the engine locked up and it sat in the shop for 3 weeks. The dealership would do nothing for us. It is a $20,000 loan that just sat. It is about to be repossessed. WE will need to start fighting this ASAP. There are a lot of other factors involved in how the dealership sold to us...(misrepresented the vehicle etc). We want to fight this and do not want my husbands credit file to suffer. Please no judgements on this or the fact that it is about to be reposessed. Just looking for answers. Thanks!
@wakefield622 wrote:DI,
Please specify how you started the process and how it ended. My husband and I are in a situation where we are going to need to fight this. We purchased a vehicle from a dealership and within a few days the engine locked up and it sat in the shop for 3 weeks. The dealership would do nothing for us. It is a $20,000 loan that just sat. It is about to be repossessed. WE will need to start fighting this ASAP. There are a lot of other factors involved in how the dealership sold to us...(misrepresented the vehicle etc). We want to fight this and do not want my husbands credit file to suffer. Please no judgements on this or the fact that it is about to be reposessed. Just looking for answers. Thanks!
Di has not logged on in 14 months.. hopefully someone else will have some guidance..
-scott
@Anonymous wrote:
What's CA and OC stand for??
Welcome to the forums!
I'd suggest reading the following:
Common Abbreviations
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.