Quick Repo Question

[NeedingCreditHelp]

I read the pinned Repo thread and have searched all over. I asked on the credit forum, but didn't get much info so it was suggested I try here.

 

We had a car repo'd in 2008. Hubby set up a payment plan right away with the CA who took over. We have been making monthly payments on it the last 5 years. They are on autodraft, so they are always the full agreed upon amount and on time. However, it is reporting a past due balance every month. This is technically accurate, but it's killing our scores. I would like to PIF. I have tried everything to get the OC to PFD or contact us at all. No luck.

 

The CA is NOT reporting on the credit reports, only the OC. It is accurate and updates every month with payment information and new balance. But the CA has been handling all communications and payments.

 

Who do I PIF and how? I have had no luck with contacting the OC, and the CA isn't on the reports so I don't know where to send the payment, account number, etc, to be sure the money is credited to the correct account and everything is considered PIF and closed.

 

Any suggestions?

[BRBiz]

So you don't know who is taking your money every month? Did you try contacting the OC to see who the collection is? If all else fails stop the auto payments though the bank and they will contact you ASAP!

[NeedingCreditHelp]

The CA is FMA Alliance. Hubby set it all up a few years ago, so I don't have a lot of paperwork on it. They send a letter every month that they're going to "deposit the post dated check" so I know who is taking the money, and the OC is obviously getting it since they are reporting the updated balance. But the OC will not respond to any of my letters and I can't get anyone on the phone to deal with it. I just want to send the check to the right person.

[BRBiz]

As long as you have a paper trail you should be fine sending it to the collection company. In fact that's probably the only place you can send it. I would call the CA and tell them you want to pay off the balance and have them send you something though the mail/email with the amount due to pay in full.

[MarvBear]

With whom was the original loan? Be discreet in answering. Do you know? Do you know the original account number?

[NeedingCreditHelp]

USAA was the original loan holder. I *think* I have one paper from them that might contain the original account number. Hubby financed this before we met, and it was repo'd shortly before we got married. So I have limited documentation from it.

[MarvBear]

Then you might have your husband call USAA's recovery department, whatever that number may be, and discuss the situation.

 

Don't know if that will work, since I have no experience with USAA.

[NeedingCreditHelp]

Ok, thanks. So far I've been handling everything since he's never around during business hours, but I will hunt down the number and have him call during his lunch break. They have been unresponsive to all written communication. I just want to pay it off, I don't even care any more. It can't report any worse than it already does.