Hello everyone, I need some help on this one. About 5 years ago, my car was towed from in front of my resident without any warning, the tow company sold the vehicle, now they are reporting on my credit report a line of credit. What should I do about this...
So a tow company took your car and sold it and now, five years later, you're concerned about a tradeline? Something doesn't add up here. Sounds like an Art. 9 repossession which can be reported on your report like any thing else.
Is it showing as a debt? Have you received any letter attempting to collect on the debt? What dates does it show? Is the original creditor the same towing company?
Okay I will try to answer each question in the order received... Hi ontrack...Yes it is showing as a debt.. 2. I contacted the towing company asked why did they tow my vehicle, they said the tags had expired..the tow company would not let me come and get the car until after a few days.. and the fees went sky high. I know the car sold for more then the storage it was a Mercedes Ben .. 3. the Date shown is not the orginal date of the tow..it shows. 2003. 4.AAA Credit Service.. and Bob Tow is showing.. apexcrsrv see below this is what it shows.. AAA CREDIT SERV COLL AGE Balance: $583 Date Updated: 11/2003 Original Balance: $560 Original Creditor: BOBS TOW SERVICE Past Due: >$583< Pay Status: >Collection Account< Account Type: Open Account Responsibility: Individual Account Loan Type: Collection Agency Attorney Remark: >Placed for collection< Date placed for collection: [ 10/2003] Estimated date that this item will be removed: 06/2010 cap1sucks No it's not a repo....I owned the car... I am quite confused, how can they report this as a credit line or tradeline.. if I never had anything to do with the tow.. what type of collection is this? Also AAA states its a credit service agency.
Perhaps I am a bit confused so forgive me if I am remiss but, are you stating that you allowed a towing company to sell your Mercedes because you allegedly owed them less than $600 dollars?
apexcrsrv, If you don't have the money, what can you do?, I was ill, and unable to work for a while..
Sorry for the confusion, I'm not faulting you for failing to make a payment. However, it is not legal for a towing company to sell a vehicle not belonging to them only because someone owes a ticket. Something is definately odd here. In any event, dispute the tradeline through the credit reporting agencies.
apexcrsrv, no need to apologize, it's odd, I agree. and something is wrong.. .. thanks for the advise.,. I will dispute the tradeline.. she I word as" account not mines?....please advise. Again thank you. Pasion
Can u please look up my post and help me??you seem to have unlimited knowledge of what i need to do.I only have 1 post.
No, don't dispute it as not mine insofar as that will carry no force under the FCRA if such force is needed down the road. The most glaring inaccuracy within the tradeline is the fact that this is reporting as a collection account yet, it's reporting as open. Collection accounts are properly reported only as "closed" by virtue of the fact they cannot be open due to the fact they have not issued you credit. Only an original creditor can report an account as being an "open" account. Dispute that specific data field and also request validation from this furnisher. If they verify without correction, consider consulting with a consumer attorney.
