Re: Illinois Redeemed Repo tradeline

Posted by JG (68.72.112.114) on July 20, 2003 at 05:25:50:

In Reply to: Re: Illinois Redeemed Repo tradeline posted by Why Chat on July 20, 2003 at 05:05:37:

Thanks for the response, Why Chat.

I have read the links regarding repo laws from your site which are very informative, but they do not seem to cover redemption after repossession nor how this is reported on credit reports.

The reason why I brought up the original question is because EQ and EX do not report the status as "Repossession", this only appears on TransUnion. It seems to me that from the MVRISA passage, that this should not be reporting as a final status of "Repossession".

Yes, it is true the vehicle was repossessed at one time, but it was redeemed 3 days afterward and I went on to pay off the balance of the contract and received the title. Should it still report as "Repossession" in this case?

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