I have read alot of the previous postings, but I am still unsure about how to proceed. I have just begun to repair my credit and would like some advice. My TU score is 545 and my Equifax is 593. My biggest problem is: I have a repossession that is due to come off 1/04. When the car was repossed, I was told that I owed $9K, but on my credit report it is listed as $25K. The car dealer who sold me the car changed my interest rates and padded the invoice for approx $2k (I was a kid and stupid and just was too excited about getting it to read the fine print). Should I try to verify this, or will they come after me? How should I best handle the situation? I am trying to clean up some issues and would really appreciate any insight from people who (may) have been there. Thanks in advance for you assistance!!
Depending on the SOL of your state for this kind of debt, you have 2 choices: 1) do nothing and have the erroneous listing remain on your account until 04. Maybe disputing with the CRA's to see if it gets deleted. 2) dispute with the CRA and validate with the CA and make them prove the entry complete with fees and penalties. If you are past the SOL or if the CA already knows your whereabouts, harassing you, and therefore can sue you anyway, I would validate. If you are worried about them finding you and suing you, AND it is before the SOL, you might consider option 1. -Peace, Dave
