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Credit repair


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Posted by Goodsamaritan (24.244.136.198) on May 18, 2002 at 22:25:58:

I recently found that my credit rating took a beating when my credit card application was rejected. I got a credit report from the credit reporting agency , which told me the problem .

My problem is I was a co-signee on an automobile loan for a car purchased by my nephew. The car was registered on my nephew's name. Now my nephew was laid off from his job and he had problems paying the monthly payments. The car loan company contacted me when the payments were not received on time a couple of times , and I made sure that the payments were made. But however this was reported to the credit rating companies and TransUnion has now entered that I am a delinquent payer. I have never missed or have delayed a single payment on my car payments, I pay in full my monthly credit card purchases usually. Despite my otherwise excellent credit history the payment history of my nephew has added bad credit to me.

I have made an appeal to Transunion explaining all this but they said that since I was a co-signor , the payment history effects me.

I seek advice from knowledgeble gurus as how I should proceed to repair my credit report.

Thanks.


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