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Posts posted by NicholasRichardson

  1. On 7/24/2022 at 12:45 PM, Flyingifr said:

    I used to work in Auto finance collections, so I will give you some of the answers you can expect to the question "What do I have to do to get you to take the repossession off my credit file?"


    1 - "We had to repossess the car to get your attention. It stays."


    2 -  "No. Period."


    3 - We won't take it off, but when the account is paid off in full we will change it to "Paid Repossession" status.


    BTW - did you redeem the car or was the car sold at auction? Please tell me you redeemed the car. If it was sold at auction, expect a deficiency balance and expect to be sued over it almost immediately.

    I had lost my job during Covid and recently got a new job and that’s why I wasn’t able to make the payments.


    My original creditor is Ally Financial. I haven’t contacted them yet, nor have I redeemed my car but they haven’t sold it at auction yet (only reason I know this is because it’s not stated on my credit that it has sold.) Now that I have a stable job, with stable income I want to make it right and hopefully redeem the car, based on your advice that seems like my best bet at the moment. 

    What would be the best way to redeem the car. In terms of contacting them, what’s the best way to word it to the original creditors that I would like to redeem it, or just simply ask? Do you think its too late to redeem the car since it’s been over a month? 

    If I’m not able to redeem the car, what’s my next best option? I obviously don’t want to be sued, but is there a way I can make payments on a deficient balance or will it have to be paid up front?


    Thank you for taking the time to respond 

  2. Hi guys I’m in need of a little guidance. My car was repossessed a few months ago. I had a total of about 10k left in payments on the car. It’s showing up on my CR stating Recent Balance: $10,314 as of 6/4/22 —— Date opened: 6/2016 —— Status: Repossession $1753 past due as of June 2022. I am currently in the process of getting my personal information cleaned up on my credit. I’ve deleted old names, addresses, etc. I want to ask you kind people; what is my next move to getting the repossession off of my report? 

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