repo club

I wonder if they were able to sell it for what you owed on your loan. If you want, by law they are required to give you the selling info on it. If they don't then you can have it deleted on that basis, same as not validating a debt.

I don't know if you want to wake sleeping dogs on this.

Bobbi

 

I'm curious: were those deleted collections older than your positive accounts? I guess FICO counts collections when determing age of accounts?

I don't know what to do with repos. We need a breakthrough method in getting these removed. We need a Lizardking Revolution!

 

yes they were pretty old 96 97 98 my but i have pd car loans showing from 95 96 than i bought that lemon... i dont know i am scared to dispute it they never contaced me ever but it does still show the balance s of the repo not the deducting anything and i am sure they got something for the car it will be 4 years i dont know do you think since another bank sold them the loan they may not have anything with my sig the original loan was made in 96

 

I'm with you, Killer. I have been wracking my brain over this one. The best I can come up with is squeaking through on reporting inaccuracies.

Maybe, some of the "big kids" can help us out on this one.

Bobbi

 

my fear is that they only got $500.00 for this piece of crap and the are going to sue me for 6000.00 and win... but i havent heard from them i wonder if i should call them and ask them what the balance is

 

maybe they went out anyone here of transsouth financial out of texas is says on my tu closed 3/98 status of 03/98 repossesion balance 6082.00 most owed 15442.00 this car was a lemon and it bled me dry i was glad to see it go someone help me make up my mind will this give my score a serious boost if it comes off

 

One thing that keeps me calm is this fact: In my state they can't garnish wages and I don't own a home! If they did a judgement, they could only go after any other assets. Well I ain't got any! So find out what they can get. If you have nothing to loose maybe you could attack.

 

well i live in il they can garnish anything they want including your paycheck if they get a judgement now the original lender states that i paid them and was never late but they went out of bus and sold the loan to transsouth still i dont know time to crap or get off the pot i am just scared

 

I wouldn't call them. Do a validation. They have to provide you with the info regarding the sale, where it was sold, how much it sold for, ect. Treat it like a normal validation.

Check the laws in your state so you know exactly what they have to provide.

Bobbi

 

You are absolutely correct. If there is someone who has done this successfully, I am all ears. I would love to have further input on this.

In the meantime, I'm disputing mine with the CRA due to inaccurate reporting because that's the only thing I have right now.

Bobbi

 

This is the letter I am sending out. Let me know what you guys think.

January 23, 2002

CRA

Re: Disputed Account Name & Account #

To Whom It May Concern:

I have enclosed a copy of credit report dated January 9, 2002. I was distressed and disappointed to discover that you are reporting inaccurate and erroneous information regarding this account:

Account name and pertinent info

This report states that this information was verified on 12/2001. I am supplying you with proof from (Creditor), that as of 12/2001 this is not the correct balance. Therefore, this tradeline is to be deleted, in its entirety, from my report based on the following:

§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(5) Treatment of inaccurate or unverifiable information.

(A)In general. If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumer's file or modify that item of information, as appropriate, based on the results of the reinvestigation.

I am not asking for a re-investigation of this item as you have already investigated on 12/2001 and have reported it inaccurately, due to improper verification.

I expect a report showing this item removed, in its entirety, from my credit file within 7 days of your receipt of this letter. If you do not comply I will file a small claims suit in (your court, your county) citing Sections 616 and 617 of the FCRA.

§ 616. Civil liability for willful noncompliance [15 U.S.C. § 1681n]
(a) In general. Any person who willfully fails to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the sum of

(1) (A) any actual damages sustained by the consumer as a result of the failure or damages of not less than $100 and not more than $1,000; or
§ 617. Civil liability for negligent noncompliance [15 U.S.C. § 1681o]
(a) In general. Any person who is negligent in failing to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the sum of
(1) any actual damages sustained by the consumer as a result of the failure;

(2) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorney's fees as determined by the court.
(b) Attorney's fees. On a finding by the court that an unsuccessful pleading, motion, or other paper filed in connection with an action under this section was filed in bad faith or for purposes of harassment, the court shall award to the prevailing party attorney's fees reasonable in relation to the work expended in responding to the pleading, motion, or other paper.
Sincerely,

 

bobbidk,

" I am supplying you with proof from (Creditor), that as of 12/2001 this is not the correct balance"

You don't think the CRA will update the account to match your proof?

 

Killer

Excellant point. I am hoping that I am intimidating enough (big bad me) that they will just delete it. That's the scary thing about this whole mess. You never know what they are going to do. I'm afraid that if I don't send the backup, the CRA will do another investigation and update. I am hoping for the lazy factor on this one: here's all the stuff all you have to do is delete it and I won't bother you anymore.

Bobbi

 

Thwy never verify anything- - they just reassert the same falsehood!

 

I am in the repo club, but only on TU and Experian. I got it deleted from Equifax. I just disputed it, it is unpaid. With Primus Automotive.

One time when I disputed it, it came back as verified with Jaguar Automotive, I disputed it again, as I never had an account with Jaguar credit and it came off. I also had it in validation mode. It came off of Equifax only.

It was for over $4000 deficiency balance.

 

well i to would like to hear about any one else who has been able to do this with out them coming back at them....

 

omg i am doing a little research to find out if transouth financial still exists and low and behold they are a sub of ford....... and guess who the honey has her car financed threw now ford. so if they wanted me i dont think it would be a far throw for them to get me i am going to take a deep breath wait on the disputes to come back from 2 weeks ago and start disputing this.. wish me luck

 

I had to make a quick trip out of town tonight. On the way back, I thought long and hard. I'm going to send a validation letter. I'm tired of having bad credit. I want to deal with this. I am going to create a letter based on Lizard's and add all those legal requirements for repos. I saw it on the internet somewhere. I'll find it again. I'll let everyone know when I send the letter. It will be a while from now. Like diva, I want to first finish up some other validations and disputes. In the mean time, I'll be creating my letter.

 

I think what we all have to remember is no matter what happens they can't physically hurt us. If they come after us for money, then we just make payment arrangements and go from there. I, personally, don't want to pay anymore and I know you guys feel the same way. This is all part of pulling ourselves back up and moving on. The worst has already happened. The came and took our cars.

I know it would be great if they would just go away and leave us alone, but if that doesn't happen, oh well. Just remember we are trying to clean up our reports, we aren't out robbing banks. The laws are there for us, we just have to use them to our advantage.

Keep your chins up, we've been through worse than this and we'll shall overcome. <violins playing in the background>

Bobbi