Please help I'm new to this

Discussion in 'Credit Talk' started by Candi, Jul 24, 2001.

  1. Candi

    Candi Well-Known Member

    I need to know how to handle this. In 98, I had a car repo. I had lost my job and was going through some marital problems. I went to stay with my mom for a few months. I would still go back home every day and clean, check mail, visit with hubby or whatever. I filled out a change of address and then started getting mail at a po box. Anyway, I got my credit report and the place that had my auto loan and did the repo, they listed " unable to locate individual/reposseion" as well as about 11 late payments. Im so stressed out now because I need a new car and the guy at the dealership says this looks really bad, that they couldnt locate me. I need to know how to dispute this. Sorry about the rambling.
  2. Terry

    Terry Well-Known Member

    I need more information:

    Is the same listing on all three CRA's.

    Who is the finance company? Are they still in business?

    Did you pay the car off late? Did the finance company repo the car?

    What state do you reside?
  3. Candi

    Candi Well-Known Member

    yes it is on all 3 credit reports. it was arcadia financial and i live in NC the car was sold after repo and i still owe 3,000.
    also, when they used to call, my husband would say "she dont live here anymore and i dont know where she is" he thought he was helping me avoid the harrasment.
    thank you
  4. Candi

    Candi Well-Known Member

    im sorry i forgot to tell you that they are still in buisness.
  5. breeze

    breeze Well-Known Member

    If I read NC law correctly, at least they can't get any deficiency balance from her. :)

  6. Candi

    Candi Well-Known Member

    thats true. a lawyer told me that may wages cant be garnished in NC
  7. Terry

    Terry Well-Known Member

    Try disputing on all three bureaus. Wait to see if the information is deleted or not. That doesn't sound right to me. At best, it should be a chargeoff after reposession. The truth is if the company wanted to find you, they could. Usually companies use skip tracing.

    They pull your credit report and call your creditors to see if they can get an updated address, phone number, ect. You would be surprised how many companies use this tactic.

    The only reason I know about this is when I was in college I was a part time loan collector for the largest bank in Pennslyvania.

    I digress, dispute the information with the bureaus, if they verify it as accurate, ask them for the methods used to verify the accuracy. By law, they have 15 days to get that information to you.

    Give it a try, see what happens.

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