My Repo Situation-Why Chat HELP

[jdz78]

Ok, I'll lay out my situation before I ask any questions...

 

Repo 7/2/2008

SOL for OK is 5 years (so it expires in about 12 days!)

 

Got a letter dated 7/7/2008 (within 5 days of repo) stating the sale would take place on or after 7/22/2008(more than 20 days after repo). That same letter also states the following:

 

DH and I will owe the difference if they don't sell it for the full amount;

We can get the vehicle back before sale date by paying the full amount we owe (not just the past due payments);

We can get an explanation in writing of how they figured the amount owed by calling or writing only.

 

This letter was sent to my mother's address (how they got that address I'll never know since all statements were coming to my home address for 4+ years). Side note-so now that address is attached to our reports. (removed from Equifax, Experian refused, pending TransUnion removal any day now)

 

We never received anything else from HSBC regarding the sale...

 

Both mine and DH reports both show a repo from HSBC Auto finance stating the account was transferred or sold to someone else-no balance information though. No collection agency has ever listed or contacted us about this.

 

Credit Report:

 

Equifax: $0 bal, balance date 9/2009, high limit $13,953 Comments 11/2007 I8, 4/2007 I2, Charged off account transferred or sold

 

TransUnion: $0 bal, bal date 7/2008, high limit $18,306 Comments purchased by another lender

 

Experian: nothing in the balance section, balance date 10/2008, High limit $18,306 Comments purchased by another lender, 9/2008 I, 8/2008 I, charge off account transferred to another office, last paid 1020/08

 

We originally financed this 8/2005 for $18,306.

 

Why Chat, what are my options?

Of course, Equifax is reporting the wrong high balance, and dates are wrong all over the place. I don't know how much we even owe (if any) since we never got anything else regarding the sale (at my mother's house or mine). I have started the Why Chat repo letters but haven't sent anything yet. I did get a copy of the CarFax report and it states repo was 8/7/2008 (it was actually 7/2008) and sold at auction on 8/25/2008.

 

What to do what to do...

 

 

 

It's all about the process...

May 2013 Equifax 489 TransUnion 503 Experian 463 FICO 537

June 2013 Equifax 542 TransUnion 530 Experian 576 FICO 544

 

 

[Why Chat]

The "SOL" is 4 years from the auction date.

 

Unless you were sent a complete accounting of the proceeds of the sale and a demand for the deficiency balance, you have NO obligation to pay anyone anything. The repo NEGATEDand VOIDED the original installment loan contract.

 

Follow these steps:

 

http://www.whychat.5u.com/GUIDEBOOK.html

 

http://www.whychat.5u.com/repoltr.html

[jdz78]

Awesome! Thanks so much. I'll let you know how it all turns out.

 

For HSBC, do I need to send one letter for me and one for DH or can I just send one with both names listed?

 

For the credit bureaus, I assume I need to send one from me and one from DH....

 

Thanks again!

[Why Chat]

All disputes must be separate, there is no "family plan" for credit repair.

 

Do each dispute to the CRAs separately from each of your own reports.

 

It is possible that the initial dispute letter to the CRAs will get you a deletion.

 

Please make sure you have both opted out and deleted old addresses and are working from REAL reports, not "3 in 1" or 3rd party credit monitoring service reports.