This is the problem: In 1997, my car was repoed voluntarily by my mother, not me. I was in basic training for the Air Force at the time. When I returned home in February of 1998, my mother told me what had happened. My mother and I agreed that she would pay the car note until I received my first check from the Air Force, but this didn't happen. My mother didn't pay because she didn't like the car and thought that I got screwed. So when the creditor called for the payment, my mother told them to come and get the car. Is there anything that can be done about this account or should I just wait another 3 years for it to fall off my CR?
Did she have POWER OF ATTORNEY or was she a "JOINT" holder, if NOT, you can possibly BACK OUT OF HER DEAL THAT YOU DID'T DO...
Who was the creditor? Some are better than others. You can always dispute the entry on your credit report and hope they don't answer, however, chances are you will also stir up a hornet's nest, and some collection agency will come after you for the deficiency balance. Better check your state's SOL. What state were you in? What state are you in now? Still in service?
Thanks for the replies! To answer the questions, no my mother did not have power of attorney, nor was she a joint applicant. American Honda Finance Corp. was the creditor.
Depending on how far past due and if a cure letter was sent out to you you may be sol..Iff account was delinquent they do not need to ask you for the vehicle back...IIIf your mother stated that you were in boot camp for 12 weeks which if know payments were made would put the account 90 days past due they surely would pick up the vehicle if she had no intentions of helping make payments on vehicle..Usually vehicles are repoes anywhere from 50 days past due on up...Do not know your particular cirumstances but chances are if your account was past due there is not much that u can do except sue your mother....
