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Must read if you have a Drivetime repo on CR

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Anonymous
Not applicable
‎01-02-2015 02:58 PM
‎01-02-2015 02:58 PM

Must read if you have a Drivetime repo on CR

I have not seen this discussed in this forum and I'm a little surprised. If you have a repossesion with Drivetime you must read this from the Consumer Finance Protection Bureau. Certain folks could see the trade deleted from all bureaus. The first link is the article and the second link is the Consent Order where on Page 17 it says Drivetime must delete the repo from the consumer's report. Also, on Drivetime's website it says consumers will receive letters concerning this. It's probably a good idea to know if this applies to you and not depend on getting a letter, especially if you've moved and the letter requires a some type of response.

 

http://www.consumerfinance.gov/newsroom/cfpb-takes-first-action-against-buy-here-pay-here-auto-deale...

 

http://files.consumerfinance.gov/f/201411_cfpb_consent-order_drivetime.pdf

 

 

Message 1 of 26
25 REPLIES 25
dragonfly66
Frequent Contributor
‎01-02-2015 07:24 PM
‎01-02-2015 07:24 PM

Re: Must read if you have a Drivetime repo on CR

Thank you so much for posting this!  I am dealing with them now and, unfortunately, I have already sent them a PFD letter in order to get them off all 3 of my credit reports.  I thought it was really weird that, right after I sent the letter, they took it off of EX and TU without responding to my letter.  For some reason they left it on EQ.  They actually did mis-report the repossession to the CRA's and I had to dispute it with the CRA's to make them change it back.  I'm going to try to get them off EQ now.

Current - FICO 3/2019: EX(753); EQ(763); TU(749)
Beginning - FICO 7/2014: EX(630); EQ(608); TU(581)
Credit: Wells Fargo Home Projects Charge Card ($7,800); Wells Fargo Home Rebate Visa ($4,000); Capital One Quicksilver ($10,000); Capital One Venture ($6,000); Discover it ($7,900); Macy's ($20,000); BrandsMart ($4,000); Banana Republic ($1,200); Lowes ($12,000); Amex Everyday ($30,000); Macy's Amex ($15,000); Amex Platinum (NPSL); Citi Diamond Preferred ($9,000); Chase Freedom ($9,000); Wells Fargo Outdoor Solutions ($10,000); SunTrust HELOC ($25,000)
Message 2 of 26
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Anonymous
Not applicable
‎01-02-2015 08:02 PM
‎01-02-2015 08:02 PM

Re: Must read if you have a Drivetime repo on CR

@dragonfly66 wrote:

Thank you so much for posting this!  I am dealing with them now and, unfortunately, I have already sent them a PFD letter in order to get them off all 3 of my credit reports.  I thought it was really weird that, right after I sent the letter, they took it off of EX and TU without responding to my letter.  For some reason they left it on EQ.  They actually did mis-report the repossession to the CRA's and I had to dispute it with the CRA's to make them change it back.  I'm going to try to get them off EQ now.

I'm thinking EQ is just being slow. The order is dated 11/19/2014 and Drivetime has 120 days to delete. It could drop from EQ any day now. Please keep us posted. You are going to dispute EQ even though it might be deleted? I'm not saying that's a bad move. Did you read the part that they must ensure it does not reappear after deletion? This is good news.

Message 3 of 26
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dragonfly66
Frequent Contributor
‎01-02-2015 08:28 PM
‎01-02-2015 08:28 PM

Re: Must read if you have a Drivetime repo on CR

I actually thought about 

@Anonymous wrote:
@dragonfly66 wrote:

Thank you so much for posting this!  I am dealing with them now and, unfortunately, I have already sent them a PFD letter in order to get them off all 3 of my credit reports.  I thought it was really weird that, right after I sent the letter, they took it off of EX and TU without responding to my letter.  For some reason they left it on EQ.  They actually did mis-report the repossession to the CRA's and I had to dispute it with the CRA's to make them change it back.  I'm going to try to get them off EQ now.

I'm thinking EQ is just being slow. The order is dated 11/19/2014 and Drivetime has 120 days to delete. It could drop from EQ any day now. Please keep us posted. You are going to dispute EQ even though it might be deleted? I'm not saying that's a bad move. Did you read the part that they must ensure it does not reappear after deletion? This is good news.

You know, you make a good point about giving it a minute before I dispute anything.  I think you may be right in this instance.  EQ may just be dragging their feet on this one.  I will definitely keep you updated.  I have been dreaming of the day this happens!

Current - FICO 3/2019: EX(753); EQ(763); TU(749)
Beginning - FICO 7/2014: EX(630); EQ(608); TU(581)
Credit: Wells Fargo Home Projects Charge Card ($7,800); Wells Fargo Home Rebate Visa ($4,000); Capital One Quicksilver ($10,000); Capital One Venture ($6,000); Discover it ($7,900); Macy's ($20,000); BrandsMart ($4,000); Banana Republic ($1,200); Lowes ($12,000); Amex Everyday ($30,000); Macy's Amex ($15,000); Amex Platinum (NPSL); Citi Diamond Preferred ($9,000); Chase Freedom ($9,000); Wells Fargo Outdoor Solutions ($10,000); SunTrust HELOC ($25,000)
Message 4 of 26
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Anonymous
Not applicable
‎01-29-2015 04:32 PM
‎01-29-2015 04:32 PM

Re: Must read if you have a Drivetime repo on CR

Several posters with inaccurately reported Drivetime repossession have verified that the trade lines have been removed from all three credit bureaus. If you fall into this category you should be seeing the same results.

Message 5 of 26
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dragonfly66
Frequent Contributor
‎01-29-2015 04:34 PM
‎01-29-2015 04:34 PM

Re: Must read if you have a Drivetime repo on CR

I'm a witness!  It happened to me too. Smiley Very Happy

Current - FICO 3/2019: EX(753); EQ(763); TU(749)
Beginning - FICO 7/2014: EX(630); EQ(608); TU(581)
Credit: Wells Fargo Home Projects Charge Card ($7,800); Wells Fargo Home Rebate Visa ($4,000); Capital One Quicksilver ($10,000); Capital One Venture ($6,000); Discover it ($7,900); Macy's ($20,000); BrandsMart ($4,000); Banana Republic ($1,200); Lowes ($12,000); Amex Everyday ($30,000); Macy's Amex ($15,000); Amex Platinum (NPSL); Citi Diamond Preferred ($9,000); Chase Freedom ($9,000); Wells Fargo Outdoor Solutions ($10,000); SunTrust HELOC ($25,000)
Message 6 of 26
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Anonymous
Not applicable
‎01-29-2015 04:39 PM
‎01-29-2015 04:39 PM

Re: Must read if you have a Drivetime repo on CR

@dragonfly66 wrote:

I'm a witness!  It happened to me too. Smiley Very Happy

dragon I am envious of your new EX score. You are almost 700!!!

Message 7 of 26
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Anonymous
Not applicable
‎01-29-2015 05:41 PM
‎01-29-2015 05:41 PM

Re: Must read if you have a Drivetime repo on CR

The have been supressed on my TU, not showing on Experian, and still hanging out as a collection on my Equafax. I can only hope it falls off of Equafax. That would be a big corner to turn...
Message 8 of 26
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gdale6
Moderator Emeritus
‎01-29-2015 06:38 PM
‎01-29-2015 06:38 PM

Re: Must read if you have a Drivetime repo on CR

@Anonymous wrote:
The have been supressed on my TU, not showing on Experian, and still hanging out as a collection on my Equafax. I can only hope it falls off of Equafax. That would be a big corner to turn...

You might send a copy of the order from the CFPB to EQ along with details of their abuse as it relates to your account with demand that it be removed.

Message 9 of 26
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Anonymous
Not applicable
‎01-29-2015 06:59 PM
‎01-29-2015 06:59 PM

Re: Must read if you have a Drivetime repo on CR

gdale6, probably a dumb question but I'm learning...

Would I send them the whole file and detail the numerous times they called my place of employment, even after I asked them to stop?
Message 10 of 26
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