Voluntary reposeesion Shows as "Pays as agreed"

[farmerman96]

Hey all,

 

I have been lurking for short while and have just recently jumped into the wonderful world of credit repair. While reviewing both DW and my own reports, I noticed that a vehicle loan through DT Credit Corp, (DriveTime) shows as pays as agreed and is current although it also lists as a voluntary repossession. We turned the car in voluntarily in 2010 and have never made a payment so not sure why it is listed as such.

 

Anyone else have similar situations? essentially it is being reported as positive credit, no lates but that is way false.

 

How should I approach this if at all?

[farmerman96]

To maybe muddy the water a bit, It shows under closed accounts for positive as well as closed negative accounts, both say pays as agreed and the 81 month payment history shows perfect with mast recent activity being feb of this year which is completely erroneous

[farmerman96]

ttt

[BRBiz]

When they auctioned the car did that cover the cost of the outstanding balance? That would be one of the reasons it would be listed like that.

[farmerman96]

No, although I never got a notification regarding the auction and the balance reflects the amount i still owed when I turned the car back over. There has been no deduction from an auction sale. This has been since early 2010

 

Sent from my LG-P509 using Tapatalk 2

 

 

[farmerman96]

bumpity bumpity

[farmerman96]

no advice guys? Could this be an easy dispute?

[ICANHASMUNY?]

possibly the balance due has been sold off to a JDB

 

Also, if it shows everything paid off it may be helping your score, not harming it.

 

why dispute a positive account?

 

most states have a 4 year SOL on deficiency balances ( the balance remaining after sale of the car )

 

you're still within the SOL. and could be sued if you kick the bear.

 

you may also have defenses to any balance due under your state UCC laws - Title 9 secured trasactions.

 

some states require the OC to sell the vehicle , and some states state that they cannot claim a deficiency balance if you don't recieve all the required notices.

 

I haven't heard anything good about Drive Time -