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Repo Question

The last post in this topic was posted 5405 days ago. 

 

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I had to turn in a vehicle to Chrysler about ayear and a half ago. It lists as a charge off. Are there different ways to list a repo? How will lenders look at this? Is the listing charge off the same as repo? Also I recieved a settlement letter from a RAB Inc. for half the amount. I know about dealing with collection agencies but if I made payment arrangements could I make a positive spin on thisi since this is only a year and a half old or should I wait two years and dispute, taking a chance they could turn around and sue? Thanks in advance! Happy New Year!s

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If you have a decent job and they can find you they may eventually sue. I passed on a 50% settlement (not for a repo though) a few months later they bumped it up to 70% and were ready to turn over to atty and sue locally. Since I have a good job I knew they would win and I would have to pay that and atty fees, then be garnished I had to pay the 70%.

 

It is probably worth DVing if that is still an option to see if they go away, but a year and a half on a repo I am sure they can produce the paperwork. See if you can PFD though.

 

As for the repo notation, I don't know. I would guess the CO looks 'better', buy maybe post in the auto forum or mortgage forum also.

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