question about REPO

[tcgracia]

My lease car got repo last month due to 90 pass due. i got my car back with in 10 days after repo and they reopen the account. my quesion is will it show on my credit report as Repo or Pass due? Thanks!

[Trish]

Since you got it back, it shouldn't report as a repo. It may, however, report as past due.
Have you checked your CRs? If they haven't reported late payments yet, they may not. It really depends on the company.

[CreditCrisis]

I sent this letter today to my old finance company about a car i had repo'd back in 2008. they sent me a letter right after the repo that said i could make paymens of $50 a month. i'm pretty desperate at this point just to make it in good standing. this is what i sent along with a copy of the letter they sent me with the payment info and a self addressed envelope.

***
To whom it may concern:

Currently AmeriCredit is reporting on both mine and my wife’s credit negatively. I have included a statement your company sent me when we first surrendered our vehicle back in February of 2008.

This states that we can satisfy our account by paying a monthly amount of $50.00 until the full amount of $6,670.34 is met.

I would like to make a proposal; I would like to start making monthly payments of at least $50.00 to total $6,670.34 to your company and in exchange, AmeriCredit is to no longer report our account as a charge off, or repossession and only to report as “Pays account as agreed” or “pays as agreed”. You also agree to not sell or transfer the account. If this has already been done, you agree to recall the debt from the Collection Agency and deal with me directly.

This is not a promise to pay, but an attempt to make good on a debt.

If you agree to the terms of this letter, please sign, date and mail back. Once agreed, payments will start on the 10th day of the closest month the letter is received on. (ie: if I receive it back by the end of May, I will start payment on June 10th, 2009.




Signature of company official:



Date:
***

please let me know what you think?

[CreditCrisis]

Ugghhh....

so I have been disputing my AmeriCredit account info for a long time because the balance is incorrect. It keeps being “Verified”. Well today I finally just found a letter from them after they sold the car at auction, that says my “total deficiency owed is $6,625.” Its reporting on my credit as $13,752 charged off.

So here is my question: because they have failed to correct or verify the information now on numerous occasions (including the CRA’s) is this now terms for me to request it be deleted and send along a copy of the letter? Could I basically draft a letter that says:

To Whom It May Concern:

I have requested you verify this information on numerous occasions due to its inaccurate reporting. You have failed to grant my request as protected in my rights outlined by the FCRA and the FDCPA.

Please remove this devastating account immediately to avoid any further damaging affects to my credit.

Thank you

Would something like this work? Or can I only request that they correct the balance amount?

Thanks for all help thus far and in the future!!!

[Trish]

Ah.....I bet they are reporting the TOTAL from your retail installment contract. That's what they did on mine.
Yes, I would send them a debt verification letter if it is being reported by the OC. Use the letter in the DV letters thread. It's a little more detailed and I think may work better.

[CreditCrisis]

the only problem is i have sent that letter...twice...

[Trish]

Hmmm.......if they're completely ignoring you it may be time to file some complaints.
What I would do is try calling them and talking to a mgr........someone besides a CSR. .......and let them know you are just wanting this taken care of and if they are going to continue reporting this incorrectly, verify your disputes with the CRAs and then ignore you.........then you are going to file complaints with the BBB, FTC and their state's AG. See if that can wake somebody the hell up.