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Re: repossession help
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Posted by JKelly
(141.151.13.80) on July 17, 2004 at 16:42:34:
In Reply to: repossession help posted by juice on July 17, 2004 at 16:23:52:
First, you have 3 major CRAs. AND, they may not all be reporting the same thing. This actually is quite common although, since they are suppossed to be correct info, stands to reason that they should all be reporting the same. Sometimes, a creditor will report to only 1 of the major 3 CRAs. The date of last transaction does not change, that is the date of the last transaction on the original account (original creditor) THIS ACCOUNT IS LONG PASSED THE SOL, so you don't owe anybody anything. Sounds like you are dealing with a bad debt buyer. When an account goes deliquent and is charged off, it will eventaully be sold to a CA for pennies on the dollar. If No.1 CA can't collect, it goes to No.2 CA and so on down the line. The older the account gets, the less the value. Your account is very very old, and this CA probably payed a fraction of a penny on the dollar. This is where the CAs are the MOST Abusive. There only chance to get any money from you is to threaten or humiliate or scare you. They know they have no legal recourse. You should have been notified of when the car was sold and they should have given you the info on what they sold it for. I think that is water under the bridge at this point. OPT OUT
Send the SOL letter
Don't talk to CAs. Let the machine pick up, change your phone number, watch caller ID. Whatever works for you. There is just no point in allowing a CA to upset you or your wife over something that is that old.
Dispute the CA tradelines from your CRs. I am going to give you the link to Why Chat's web page. Go there and look for the OPT OUT info, Look for the letter to CA when the account is passed the SOL, and there are a couple of letters to dispute the CRAs too.
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