I recent disputed a repo on my Experian report and it came back as updated. This is the update: Repossession/Current, was past due 30 days. $6,015 past due as of 4-2002. Status Details: This item was verified and updated on 3-2004. Date Opened: 04/1996 Type: Installment Reported Since: 06/1996 Terms: 60 Months Date of Status: 02/2002 Monthly Payment: $0 Last Reported: 04/2002 Responsibility: Signer Credit Limit/Original Amount: $14,744 High Balance: NA Recent Balance: $6,015 as of 04/2002 Recent Payment: $0 Account History: Repossession as of 2-2002 to 4-2002 30 days as of 10-1998 The only thing that change was the balance. ANY IDEAS ON WHAT MY NEXT LETTER SHOULD SAY. The account is with VW Credit.
I've had to deal with Experian with regard to inaccurate reporting on a repo. Are you saying that the balance is being incorrectly reported?
No, I'm saying that I want to get it deleted. To be honest I don't know what is owed. When they repo-ed it I was never informed of how much they were able to get for the vehicle, so I don't know if the amount is correct or not.
Oh man. Trust me, Experian is not going to delete this anytime soon. They fight hard to keep repos on reports. That said, expect the OC to come after you at some point for the deficiency (the amount you owe after the car was sold at auction), if they haven't already. They are obligated to provide that info to you. If they didn't then they'll have a hard time proving in court that you owe them. At the same time, if the repo occured several years ago, and no validation was demanded, you'll be hard pressed to get it deleted--especially by Experian--especially if you aren't armed with documentation. I know; it's a catch-22. You can still demand documentation, but short of you suing Experian, the repo will likely stay on. Especially given that it's been two years since the repo.
It's been 2 years since the repo, with nothing in writing from VW Credit. What about SOL with regard to this?
If you were never notified of the sale of the car and the remaining deficiancy balance, you may be able to seek remedy in the Uniform Commercial Code. Try researching your states law on repos and search the internet for the UCC. What state are you in?
It appears Maryland has a statute of limitation of 3 years on a written contract. In repo cases, it usually begins on the date the creditor "availed themselves of a specific remedy"- usually the repo If they have not sued by now, they probably wont. Did you receive ANYTHING BEFORE, DURING, and after the repo??
-Could be a good thing. -You should send a dispute letter to the reporting agency DISPUTING the status and balance of the account. (DO NOT dispute as "not mine" ) -You should include that the "defiency" balance from the sale of the repo'd car is incorrect, and request an accounting. (although would have been more appropriate during validation, it couldnt hurt) -What you are after, is all the documentation from the repo process. One of most common violations, is the creitor NOT DEDUCTING "UNEARNED INTEREST CHARGES". -Do a search on the net for "uniform commercial code" and auto repo. You are looking for the "process" (it may be in your state law too). -Key words are "notice of sale", "commercially resonable manner", "unearned interest charges" -IF your state has similar protection laws as the federal debt collection laws, SEND A "validation/dispute" letter DIRECTLY to the collection agency (MAKE SURE YOUR STATE'S LAW ALLOWS THIS) requesting "an accounting" of the deficiency balance, including copies of ALL the notices they were required to send you.
Re: Re: Deleting a repossession Took your advice, disputed the status, received notice today that the auto repo was "DELETED". Thanks so much for yours and everyones help.
