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repo question...

The last post in this topic was posted 4229 days ago. 

 

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Reading the archives, I see some posts indicating carfaxes run to see date sold at auction. What is the purpose? What do I do with this info? Date sold at auction vs date repo'ed? Where they supposed to inform me of auction?

 

I am going to edit this message in a little bit as I think it is reporting on a collection agency and the original bank... so not even sure who to dispute with...

 

I am reading whychat's info...whychat's info and there is one letter there to send, but in another one of whychat's posts it says send the following first:

 

"You dispute accounts this way:

 

Dear CRA,

My name is xxxxx xxxxxx , my SS # is xxx xx xxxx.

 

I am sending this dispute certified mail # xxxx to make sure you receive it.

 

I have no knowledge or records of account # xxxxx on my report # xxxxx.

 

Please advise me as to the name and address of the original creditor, the name of the account holder, and the reported date of first delinquency,as any account I might have had at one time would be obsolete.

 

If you can obtain this information, I also would need the name of the person providing this data, and the manner in which it was provided in order that I may pursue additional legal remedies.

 

Very truly yours,

 

xxxxxx "

 

Thanks

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How long ago was it? Did you get any of the notices? Good luck, we are dealing with one that is nearly out of SOL.

 

 

 

edited because I see you have read the repo page since you linked it, duh!!!

Edited by momofseven

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I think I found what looks to be a deficiency letter sent to me May 2004 :D

 

It basically says, "As required by applicable law, this is an explanatoin of the calculation of deficiency that you us in connection with the above referenced account.

 

-Total of outstanding obligations secured by vehicle sold by us: $32K

-Proceeds from sale: $15K

-Total of outstanding obligations after deducting sale proceeds: $17K

-repo fees: $375

-transportion: $192

-Auto auction fee: $599

AMOUNT OF DEFFICIENCY: $17,6K

 

:( So what now? Which letter to send?

 

I think I should send the one in whychat's repo info:

whom it may concern;

 

I am writing in regard to the above referenced accounts and transactions.

 

This is not a refusal to pay, but a notice that this account is disputed.

 

This vehicle was repossessed by (name of OC) in the State of (X) on or about, xx/xx/xxxx, and resold on or about xx/xx/xxxx.

 

Under the laws of the State of (State of Repo) UCC § 9.506 and State RISA and MVISA statutes a deficiency can not be claimed unless all of the required notices were properly and timely given, and all of the allowable redemption and cure time limits were adhered to.

 

Please provide copies of the legal notices and proof of the commercially reasonable manner of the resale of the subject vehicle.

 

If no such proof is provided within 14 days from receipt of this notice, the alleged claim of a deficiency will be considered null and void, and any continued collection activities, or continued reporting of this invalid claim on my credit reports will be considered a violation of the FDCPA and FCRA.

 

In addition, if you singularly or severally fail to comply with the above requests, I reserve the right to seek damages against all parties, under all available State and Federal statutes and UCC § 9 remedies.

 

Sincerely,

 

XXXX

 

There was another letter I saw, but doesn't seem to apply here:

You dispute accounts this way:

 

Dear CRA,

My name is xxxxx xxxxxx , my SS # is xxx xx xxxx.

 

I am sending this dispute certified mail # xxxx to make sure you receive it.

 

I have no knowledge or records of account # xxxxx on my report # xxxxx.

 

Please advise me as to the name and address of the original creditor, the name of the account holder, and the reported date of first delinquency,as any account I might have had at one time would be obsolete.

 

If you can obtain this information, I also would need the name of the person providing this data, and the manner in which it was provided in order that I may pursue additional legal remedies.

 

Very truly yours,

 

xxxxxx

Make sure you HAND ADDRESS the envelope, use personalized stationery and purple or teal font, ( preferably italic).

 

DO NOT send it RR

 

If it is verified, send the OC and the dealer and any reporting CA the repo deficiency letter from my website.

Edited by alexplantman

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The dates on the deficiency notice and the Carfax report should match. The dollar amounts on the deficiency notice and your credit reports should match.

 

You need to check your state laws to see how a repo must be handled. What letters they legally must send and when the letters must be sent.

If you received the deficiency letter in May 2004 and they had sent the letters in a legal and timely manner you would still be within SOL.

 

If thats the case, IMO, I wouldn''t be sending anything right now unless you are wanting to pay it off. Repos void the original contract and fall under the UCC for a 4 year SOL starting from the date the vehicle was sold creating the deficiency.

 

If you are wanting to pay, you might first send the CRA dispute letter that you listed. Then send the repo letters, then try a PFD.

Edited by chi

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I have to take care of it this year. I was entertaining buying a property next quarter, but decided to clear this before, as I don't want a judgement to be placed on my place when I buy. I certainly do not want to pay for deletion, as it is alot of $$, even with their settlement offer I got from Liberty last week for 50% / $9K... ...

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If thats the case, IMO, I wouldn''t be sending anything right now unless you are wanting to pay it off. Repos void the original contract and fall under the UCC for a 4 year SOL starting from the date the vehicle was sold creating the deficiency.

-------------------------------------

 

chi,

 

how does that apply to a redeemed repo? or does it at all?

 

thanks !

 

antknee

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If thats the case, IMO, I wouldn''t be sending anything right now unless you are wanting to pay it off. Repos void the original contract and fall under the UCC for a 4 year SOL starting from the date the vehicle was sold creating the deficiency.

-------------------------------------

 

chi,

 

how does that apply to a redeemed repo? or does it at all?

 

thanks !

 

antknee

It doesn't since the vehicle was redeemed and not sold after the repo (and creating a deficiency).

 

They can legally report it as a redeemed repo. But if the redeemed repo was paid in full they cannot show an outstanding balance.

 

I tried doing some reading about having a redeemed repo removed and there doesn't seem to be a one size fits all answer. People have nitpicked their way through countless disputes, written goodwill letters to execs, filed complaints/sent ITS for violations, etc. Some have had success, while others didn't. Though it does seem that those who have had success really had to work at it.

 

You might do some reading in the following threads

http://creditboards.com/forums/index.php?s...mp;#entry117872

 

This thread was recommended reading about removing a redeemed repo in the previous thread

http://creditboards.com/forums/index.php?s...mp;#entry113678

I haven't read through the whole thread to see where redeeming and removing the repo from your reports comes in.

 

I would strongly suggest that you read your state repo statutes to see if they followed all of the legal steps for your state when they first repo'ed, such as if your state requires notifying you of the intent to repo, etc., etc., etc. If they didn't follow all of the required laws for your state, you might have some leverage with that.

 

Sorry I can't be of more help.

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you have been a help, thanks!

 

i had sent a letter to the OC..the CEO :lol: at the time it was reporting wrong i.e. balance owed/charge off/ repo, but got it back to reedeemed repo/ no balance/ closed. they sent me a history of late payments and a letter that i guess i was supposed to get but never did- i had moved. it was telling me they had the right to repo the car etc..I'm thinking that since i never got the letter that would be a way to dispute or get it removed but i have no idea how i would be able to prove i never got it.

 

when i started credit repair i had two 689+ scores with alot of baddies and the car issue, so at this point im not really sure how bad it hurts my reports...when status changed to " open repo balance owed " it tanked me over 120pts. i was scared id never get those points back.

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Info seems distorted with info not having to do with my scenario.... :D

 

At this point, since I did get that deficiency letter, I can't quite follow whychat's plan, no? I have to address it now, as I said I don't want them to put alien on a future home purchase...

 

thanks :P

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Have you ordered your Carfax report to compare against the repo letters they sent to you?

Have you compared the repo letters they sent you with your credit reports?

Have you read your states repo statutes to make sure they handled the repo in a legal and timely manner?

 

JMO, but since you are still within SOL and you don't want to pay, you may run just as much a risk of them suing if you dispute the account as you would when you apply for a mortgage. (Also, it may be possible that the mortgage lender would require the repo be paid before approving a loan.)

 

It might be a good idea if you could find any violations that they may have done, either in handling the repo or in their reporting.

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:blush2: Well, I dug up the old paperwork to get the vin and pull a carfax. I cam up with the following docs:

 

1. Notice of our plan to sell property, dated 1/28/04

2. The deficiency letter (post auction) previously mentioned. This is dated 5/18/04

 

and

 

3. Final order of Replevin (from the Circuit Court - Civil Division). I think this basically says : The plaintifff does recover possesion from defendant, "My name", '00 MB vin xxxxxxxxxxxx and the said right of possesion is hereby adjudicated and declared to be superior and prior to that of Defendant."

 

"The clerk of this court shall forthwith isue a Writ of Replevin and/or a Writ of Possession for possesion of the above-described porperty. This is dated 10/20/03

 

Looks like the covered all their ducks :grin: ... I am going to run the carfax in a little bit and report back....

 

THanks

 

:lol:

Edited by pryan67

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Ok, I ran the carfax.

 

My paperwork indicates I purchased the car 11/02; intention to sell property is dated 1/28/04. Deficiency letter is 5/18/04...

 

Carfax's dates around that time period are the following:

1/27/04 - odometer reading reported for title or registration

2/25/04 - Registered as a lease vehicle (WTF??)

3/30/04 - sold at auction, listed as fleet vehicle

4/20/04 - sold at auction, listed as a dealer vehicle.

4/22/04 - Dealer inventory - vehicle offered for sale.

 

Can someone help me decipher this info? :unsure:

 

thanks

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I am somewhat confused as there seems to be different posters in this thread.

 

However, to the OP ( who PM'd me)

 

If you received all the correct notices of repo and accounting for the deficiency, AND the notices "match-up" with the carfax data, AND the accounting of the deficiency showed the SAME place and date of the resale, AND the RESALE was less than 4 years ago, then ALL you should do is to opt out, and get your old addresses deleted.

 

As soon as you are BEYOND 4 years from the date of the RESALE, you can dispute the account with the "pre-SOL dispute letter".

http://whychat.5u.com/nottoca.html#DISPUTE

 

IF it is verified, you can then send the CA and/or the OC reporting the SOL letter from my website.

 

 

If you are the one who redeemed their car, then send the "pre-SOL" dispute letter NOW ( after opting out and deleting old addresses).

 

If ANY of the proper steps in the repo or resale were NOT followed then there IS no deficiency and you can follow the repo deficiency letter program on my website.

Edited by Why Chat

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.....

 

If you received all the correct notices of repo and accounting for the deficiency, AND the notices "match-up" with the carfax data, AND the accounting of the deficiency showed the SAME place and date of the resale, AND the RESALE was less than 4 years ago, then ALL you should do is to opt out, and get your old addresses deleted.

 

.........If you are the one who redeemed their car, then send the "pre-SOL" dispute letter NOW ( after opting out and deleting old addresses).

 

If ANY of the proper steps in the repo or resale were NOT followed then there IS no deficiency and you can follow the repo deficiency letter program on my website.

 

Ok, thanks, I got my paperwork out again. I know what I "did" receive, but not sure if its all I should've received. I found 1-2 other docs...

 

1. From the Circuit Court - dated Oct 03, Final Order of Replevin.

2. Verified Complaint For Replevin - dated 11/03, it has attached "notification under the fair debt collection practives act 15 usc 1601 as amended". Also from the Circuit Court

(THe above do NOT read like they are judgements or lawsuits. Correct me if I am wrong. What are they??)

As previously mentioned, I also got:

3. Notice of our plan to sell property - dated 1/2/04

4. Deficiency letter - dated 5/18/04, stating I owe the balance of $17.7K.

 

The carfax indicates the car was sold at auction on 3/30/04 - The deficiency letter was sent about 45 days (5/18) later.

 

Do you see any issues here? I am going to just follow your method and send the "pre sol" now. Let me know after reading this additoinal info.

 

I can't wait the 4-5-6 years etc., as I mentioned I need to purchase a property this year or next. Even when I rent I get nailed for the bad credit in my state...so double edge sword... can't just let it sit there..

 

Absoluty last case resort, I can settle with them (if they would) for $5-$6K and just pay them.... but I rather keep that $$ in my pocket and go through the process to see if "they jumped through all the hoops"..

 

 

thanks

Edited by alexplantman

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Ok, thanks, I got my paperwork out again. I know what I "did" receive, but not sure if its all I should've received. I found 1-2 other docs...

 

1. From the Circuit Court - dated Oct 03, Final Order of Replevin.

2. Verified Complaint For Replevin - dated 11/03, it has attached "notification under the fair debt collection practices act 15 usc 1601 as amended". Also from the Circuit Court

(THe above do NOT read like they are judgements or lawsuits. Correct me if I am wrong. What are they??)

As previously mentioned, I also got:

3. Notice of our plan to sell property - dated 1/2/04

4. Deficiency letter - dated 5/18/04, stating I owe the balance of $17.7K. Does it give the SAME date of sale as carfax?? If so, wait until 03/08 to dispute as you are STILL within the 4 year SOL for being sued. You should ALSO double check the COURT records to make sure that there is no judgment already filed against you. It would have been a separate action sometime AFTER 5/04

 

The carfax indicates the car was sold at auction on 3/30/04 - The deficiency letter was sent about 45 days (5/18) later.

 

Do you see any issues here? I am going to just follow your method and send the "pre sol" now. Let me know after reading this additional info.

 

I can't wait the 4-5-6 years etc., as I mentioned I need to purchase a property this year or next. Even when I rent I get nailed for the bad credit in my state...so double edge sword... can't just let it sit there..

 

Absoluty last case resort, I can settle with them (if they would) for $5-$6K and just pay them.... but I rather keep that $$ in my pocket and go through the process to see if "they jumped through all the hoops"..

 

 

thanks

WAIT- check the Court, they may have already filed suit. They did everything right on the repo and notices and if they haven't already filed and obtained a judgment, they will possibly do so if you "awaken" them to the idea that you care about your credit.

 

You only have a year to go before any legal claim is time-barred, ( 4 years after the resale that established the deficiency) Other than opting out and getting old addresses deleted, that is ALL ( IMO) that you should do in the way of credit repair for now.

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................WAIT- check the Court, they may have already filed suit. They did everything right on the repo and notices and if they haven't already filed and obtained a judgment, they will possibly do so if you "awaken" them to the idea that you care about your credit.

 

You only have a year to go before any legal claim is time-barred, ( 4 years after the resale that established the deficiency) Other than opting out and getting old addresses deleted, that is ALL ( IMO) that you should do in the way of credit repair for now.

 

The date on the deficiency letter equals :cry2::cry2: the date on carfax for the auction. These freakin attorneys crossed every T and dotted every I :(

 

I checked with the Court and no judgement has been filed :P .. they sent every doc they needed, dates matched, but didn't file judgement??? Would they base that on looking at my cr report and determining I was with no assets , etc b/c of the crappy credit? I am still on their radar, as they pulled my credit in Dec and sent me that settlement 50% letter a few weeks ago..

 

Let's assume they do file judgement, can you settle that or would it be 100%? I am so tempted to dispute it and hope they drop it by now, or just want to settle for $4K-$6K, so I can pay it in one lump sum and move on with my life. That is the biggest of the only two issues I have on my credit :grin:

 

Then again its only 12 months for the end of the sol.

Edited by alexplantman

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The date on the deficiency letter equals the date on carfax for the auction. These freakin attorneys crossed every T and dotted every I :glare:

 

I checked with the Court and no judgement has been filed they sent every doc they needed, dates matched, but didn't file judgement??? Would they base that on looking at my cr report and determining I was with no assets , etc b/c of the crappy credit? I am still on their radar, as they pulled my credit in Dec and sent me that settlement 50% letter a few weeks ago..

 

Let's assume they do file judgement, can you settle that or would it be 100%? I am so tempted to dispute it and hope they drop it by now, or just want to settle for $4K-$6K, so I can pay it in one lump sum and move on with my life. That is the biggest of the only two issues I have on my credit

 

Then again its only 12 months for the end of the sol.11 Months

If they file suit they will not want to "settle" for anything less than the FULL amount PLUS interest and legal fees.

 

I URGE you to WAIT, not only on THIS issue, but anything else. Since they pulled your credit in Dec. and sent you a settlement letter a short time later, it is to be presumed that they are mounting a "last gasp" effort to get some $$ from you. If you try to "settle" now, they MAY change their minds and file suit, especially if the CA who has sent you the "settlement" offer is the SAME as the attorney who did the repo legal work. :)

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.....

 

 

 

Ok, thanks, I got my paperwork out again. I know what I "did" receive, but not sure if its all I should've received. I found 1-2 other docs...

 

1. From the Circuit Court - dated Oct 03, Final Order of Replevin.

2. Verified Complaint For Replevin - dated 11/03, it has attached "notification under the fair debt collection practives act 15 usc 1601 as amended". Also from the Circuit Court

(THe above do NOT read like they are judgements or lawsuits. Correct me if I am wrong. What are they??)

As previously mentioned, I also got:

3. Notice of our plan to sell property - dated 1/2/04

4. Deficiency letter - dated 5/18/04, stating I owe the balance of $17.7K.

 

The carfax indicates the car was sold at auction on 3/30/04 - The deficiency letter was sent about 45 days (5/18) later.

 

 

 

thanks

 

I quoted the above as a "cliff's note" version of my issue.

 

I just got a letter today from Liberty to collect their $19K. It wasn't a threatening letter, but more of a "we have programs to work with you in repaying this debt". They didn't offer a reduced amount, which they DID do on their last letter about 90 days ago.

 

Interesting thing: recently about this situation are as follows:

1. They haven't made an inquiry in months so have no clue my credit scores improved.

2. They were not reporting to EQ since the beggining of time and they just started reporting to EQ 2 weeks ago.

 

What do I do with this letter? Respond at this point? I don't think so, but not sure. Ignore it? Should I expect another "settlement offer"? or a "pay or we are sueing" letter"?

 

thanks

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