DH has a repo on his report from NMAC (Nissan Motor) dated back from July 2000. He had been leasing his car from a New York dealer while living in Massachusetts. I tried disputing it through the CRA as "not mine," but it came back validated. I question if the amount is right - it says remaining balance is $8600 with high balance of $9400. DH was actually only a few months away from the end of the lease when it was repo-ed and he was only behind on a few payments. He doesn't remember amounts and we have no records to check. What's the best approach going forward? Should I dispute the amount through the CRA? Or dispute straight through NMAC? Both? If the amount is indeed wrong, will it erase the entire repo off the account? Thanks in advance
Didn't he receive a letter from NMAC showing how much was owed after the car was repo'ed? By law, they were required to send it to him...usually by certified mail. Contact NWAC and ask them to validate the debt before you do anything else.
Beware before you proceed. if they did the repo legally (look up UCC article 9 for your state) then they may still be able to come after you for what is owed. Before you awaken a sleeping giant, have a plan. You may find yourself in trouble. On the other hand if they did not do the repo legally, proceed and attack.
Oh this is a lease. i am not sure baout the specific requiremnts. I am not sure that UCC article 9 applies to a lease. I apologize for the post.
Thanks so much for the replies. Ugh. Unfortunately we can't find his Nissan folder anywhere, which means we have no documentation. However, it sounds like they went about it illegally. First off, DH was late on making payments, but never more than a few months behind. Near the end of his lease, he was behind in paying. They called him to ask where the car was but never told him they would repo it and never gave him any paperwork (he was never "served.") Basically one day they just came and took it. DH offered several times to make payment on it so that he could keep it, but they refused. Once it was repo-ed, he never heard from them again - not about a balance due nor about what happened to the car. I did a search on repo laws and it seems that Nissan broke several rules with this repo. So, what is the best way to go after this? Do we need to get a lawyer? Do I send them a nutcase letter threatening to sue? What is the best way to attack?
Well My situation was a repo BUT NOT concerning a lease. The way I am approaching it is by asking them for the proof that they notifed me as required, a statement of account (which they have 14 days to comply with) and any other material proof that they can legally report this debt. I have 2 such situations 1) has not sent anything in over 2 months 2) has only sent the orginal contrat and nothing in else in 2 months case 1 I filed a suit a week ago we'll see how it turns out. Don't know if it evens comes close to what you need but maybe it will get the ball rolling. Look up the UCC I do beleive they address Leases seperately!
Re: Re: Repo question The fact that he fell one day behind on the payment was all the reason they needed to repo the car. Most lenders won't repo a car unless you're 2-3 months late. However, some will take the car sooner if you're having other credit problems at the time (judged by looking at your credit report). You have two choices: 1) Let sleeping dogs lie. 2) Contact Nissan and ask them to validate the debt. If you do so, they may start collection activity. It's your call.
Re: Re: Repo question knoxPK - I think I'll try your approach and send them a letter asking for proof. Good luck on yours. Let me know how they turn out. too much - Yes, they may have the right to repo it then, but my understanding is that they have to give you some sort of forewarning in writing. Am I mistaken? My understanding is also that they are required to let you decide right then to pay it, which they did not do. In fact, they refused payment from him. Curious what your thoughts (or others) are on this.
Re: Re: Re: Repo question Depends on what state you're in. However, generally, they will notify you before doing the repo. I'd be really suprised if they took the car without first sending him a notice to his last known address. If they refused payment, it may be because the payment was late. If you read the contract, it probably says something about them having the right to refuse late or partial payments.
Re: Re: Re: Repo question too much - You're right, much to my dismay. I looked more into the New York lease laws and they don't require that they forewarn you upfront. Unfortunatley we don't have a copy of the lease so I have no clue if they broke any of the rules or not. What should I do? Just ignore this one then? How hard will it be to get a mortgage with a repo on a credit report?
Re: Re: Re: Repo question Update: Ford called and offered to delete and pay back my filing fee. I took it. I know I had them on the hook for much much more but I wanted this off ASAP! PS they sent a letter admitting fault for the false entry! Now the CRA's are ON the hook. Why? Becasue if they would have done a proper investigation in the 1st place they wouldve found this out for themselves!
