Hi newbie here!
I need help getting my credit back on track as well get clarity on repossession policies.
I had perfect credit no missed payments up until April 2018 due to me becoming extremely sick (autoimmune disorder). I tried really hard to stay on top of my payments as best as I could, but I ended up having a ton of late payments.
Majority of my credit card debt came from a major hurricane in September 2017 when my family and I had to evacuate and stay in a hotel for almost two weeks. The credit card payment were becoming too much.
I'm better now and start a small new job this week with an annual of 60k, my monthly expenses minus debt below is $1.7k.
1. Should I try to Pay/GW my creditors or just pay everything off then try to rebuild with secured cards. All of my cards were charged off June 2019.
Capital One Master Card: Bal.$3800, Status: Closed/Charged Off, Lates: 2/2/6
Capital One Quicksilver:Bal.$2300, Status: Closed/Charged Off, Lates: 2/2/6
Capital One Buy Power: Bal.$700, Status: Closed/Charged Off, Lates: 2/2/6
Amex Blue Cash: Bal.$4700, Status: Closed/Charged Off, Lates: 0/0/0
Amex Delta Skymiles: Bal.$2100, Status: Closed/Charged Off, Lates: 0/0/0
Credit One: Bal.$985, Status: Closed/Charged Off, Lates: 0/0/0
2. I had a 36 month lease with BMW and then extended out 2 more months, until I could figure out, if I was going to lease again, purchase used, or kept car. It was difficult deciding because my car had an open recall with no resolution. None of dealerships wanted to deal with a car with an open recall and BMW buyout was 10K more than the car was worth if purchased the exact car used Certified from a BMW dealership.
While I was in the hospital my fiance tried to help pay bills online he did not know our old account was connected. The payment came back returned, I called them after I recieved notice and tried pay over the phone with my debit card because I was not allowed to pay with ach or online. BMW would not take my card over the phone stating Chase debit cards charges as a credit card and that I can't pay credit with a credit card. So mailed them a money order to cover the balance.
I recieved another notice of late payment I called and let them know I mailed a money order and they should have received it by now I gave them the date and money order information. They could not find it. I had to go through this long process and get the money orders reimbursed. After time went by I called to them to let them know I was reimbursed and I asked if there was anyway to pay with my card or online because I did not want this to happen again. They gave to the same answer as before. I confirmed the mailing address and mailed it off I informed them that I wanted to extend my lease two more months. They said okay once we received the payment we will extend it.
(July 13, 2019) Three weeks later my car was picked up on a Friday night. I had to wait until Monday to speak with someone. I asked what happened and why my car was picked they stated it was picked up because I had it after my contract end date and I owe a balance. I asked how much did I owe and if they received my payment. I asked why no one called or sent a letter or anything. They said they did, but to this day I have not received anything. I asked how can I go about getting my car back they stated they are not obligated to offer a way to get it back like a regular repossession because my car is out of lease contract the only way to get it if I buy it out through them.
I'm still waiting on the reimbursement to pay the balance.
My questions are can I fight the repossession on my credit? My reasoning is my lease contract had ended they did not treat it like a repossession but as a lease end and I did mail them a payment to pay the balance off.
Also I live in Florida and they haven't mailed me anything for a deficient balance how much time do they have to sell the vehicle and give me notice of a balance? Or do I not have one, I tried asking bmw but everyone was confused and giving conflicted answers.
Reporting as;
BMW 38 month Lease: Bal.$2600, Status: Closed/Repossession, Lates: 7/1/3
In the payment history it states renewed July 2019 and Repossed July 2019.
How is it renewed if they said I didn't have a renewal?
-Thank you in advance for any advice or help!
