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Car Repo.

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daisy101



Joined: 05 Mar 2010
daisy101's page
Posts: 1



38 Magic Points

Subject: Car Repo.
 
Posted on Fri Mar 05, 2010 7:21 pm  

I am a newbie seeking some advice. I am newly married & my husband had a car repo before we were married & he has bad credit. His repo happened back in 2007 & he has not taken care of it since then. We had no one contact us about paying or anything. I checked his credit report and it says it was charged-off (which i know is bad) and the balance is around $8200, other than that we have no debt. We dont know what to do about this or who to contact. He is in the military & when we went to them for help they thought he was lying and trying to scam to get a car. He was deployed when he voluntary gave them the car there was a problem with who financed him and a couple months after he got the car they said we cant finance you anymore. I really want to get this solved already but we dont know who to call or what to do?
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



601 Magic Points

 
Posted on Mon Mar 08, 2010 2:01 am  

who did he finance the car through? they are the ones that you will have to get a hold of. Can you pull a copy of his credit report and see who is reporting the debt on his report, if you recently applied for a loan and was turned down that potential creditor may still have the information that they used to turn him down.

Other wise the easiest thing to do is to get a copy of his credit report and start there. You can get a copy free from any of the three credit reporting companies. Experian, transunion or ????, sorry brain cramp, can't think of the third one to save my life. I am sure someone will come along and know it. But just pull one from any of them. You can get one free one a year.
Aaron

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2632



48565 Magic Points

Subject: car repossession
 
Posted on Mon Mar 08, 2010 6:02 am  

Hi Daisy,

Welcome to this community Smile

You should first pull a copy of your credit report. All the details regarding all the accounts will be listed on the credit report. So you will be able to find out to whom you owe the dues.

Goodnatured, the third one is Equifax Smile . However, Daisy can pull her husband's credit report from www.annualcreditreport.com .

After finding out who holds the debt, you can contact them and work out a payment plan. If you can't pay the amount in full, you can request the collection agency (CA) to agree to a settlement. Debt settlement lowers the outstanding debt amount by 40-60%. Along with the settlement, you can also request the CA to agree to a "Pay for delete" (PFD) agreement. With the PFD agreement, the negative listing on the account will get removed from the credit report.

However, remember to send all the letters through certified mail, requesting a return receipt.

Hope this helps.

Regards,

Aaron
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dorothykinder



Joined: 05 Feb 2010
dorothykinder's page
Posts: 14



195 Magic Points

 
Posted on Tue Mar 09, 2010 9:03 am  

@ Daisy!!!!

Hi,
This is really a bad thing that some financier is taking a chance out of you.. i think you should check the entire credit report and know with whom exactly your husband use to finance and more over you can even plead the military people to look in to the matter as Defence personnel cant be treated like this.
FreedomDM

FreedomDM

Joined: 28 Oct 2009
FreedomDM's page
Posts: 105
Location: Florida


2317 Magic Points

 
Posted on Wed Mar 10, 2010 7:03 pm  

I think its great annualcreditreport.com is getting so many referrals. Im SOOOoooo tired of that fake a@# free credit report.com stupid singing commercial.

They were sued and had to place a disclaimer in their commercial about possible fees, YES!

Go GO G0 annualcreditreport.com!
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NightStar



Joined: 10 Mar 2010
NightStar's page
Posts: 142
Location: Illinois


3176 Magic Points

 
Posted on Thu Mar 11, 2010 1:18 am  

http://www.whatprice.co.uk/car/vehicle-repossession.html

I found and bookmarked this link ages ago, but it is pretty good explaining how the repossessions work.

Also since your husband is in the service, I think a letter explaining the situation should be taken under consideration and maybe they can be accommodating to special handle this case and help you out.
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white



Joined: 03 May 2010
white's page
Posts: 3



30 Magic Points

 
Posted on Mon May 03, 2010 9:32 am  

Hi are you in need of extra money?, then apply for payday loans today. Your cash will be credited within 24 hours.
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