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Repo and Chargeoff
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Posted by lenny
(162.39.139.148) on September 01, 2003 at 08:14:00:
I've researched this one and am still unsure how to proceed. As this is the newest thing on my report it hits hard. (574 PG)Here's my story.
I had bought some tools from a well known tool name through their credit plan. When times got tight during the divorce earlier this year, I called them and asked them if they could take em back and sell them for the remainder owed. I'm being honest here. The account rep said sure. the remainder was 1500. I had the tool truck pick them up and then I moved away. I then received notice that they were sold for a deficiency and I was being billed 400+ dollars. Bam now eq and TU carry an open chargeoff and an involuntary repo. Calls on the phone requesting deletion for pay isn't working. i've sent them a letter (CMRRR) requesting verification and documents for the proceeds from sale but as the 30 day mark comes up there is still no answer. With the knowledge on this board, I'll sue if applicable but I'd like to clean this as I try to buy a house again in July 2004 if CR gets cleaned well enough.
Here's some facts and questions.
1. OC is in CA and the sale took place in CO which are states governed by FCRA. (i haven't researched this for verification yet) I moved to OK after all of this.
2. Disputing has not shown up on the CRAs. Isn't this a hard violation to start my case with? I'm now also sending dispute with the CRA.
3. If, per my suspicion, that the tools were in fact sold at a profit and there is no answer to my first letter, what would be my next move ?
4. This company has not acted in the manner in which business should be conducted and I would like to nail them but I want a strong case if it does go forth. Thanks for all the help.
Lenny
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