Why Chat Repo Letter Question

[haytertots]

Hi Everyone,

 

I'm new to Credit Boards, so please be kind. To give you a little background, back in 2007, I was laid of as part of a corporate buyout, which left me without income for 6 months. I eventually found a new position, which required relocating to another state. Thankfully, I've been happily employed with my new company for the past 6 years. However, as a result of my unemployment, I had two auto loans that were reposessed in Sept & Oct, 2007. Loan #1 is reporting a deficiency balance of $11,382. Loan #2 is reporting a deficiency balance of $16,798. Both are reporting active lates each month, which is why they are hurting my credit report so much. They are both past the SOL (which is 6 years, both in the state of Repo and my current state). I verified the DOFDs with the OCs, and they are set to fall off my credit report in April & May, 2014. However, my wife and I would love to get these off my report sooner, so we can think about purchasing a home while interest rates are low. These two trade lines are keeping us from qualifying.

 

Here's how they look on my CRAs:

 

1. Nissan-Infinity LT

(address, phone)

(account #)

(address id#)

Date Opened: 4/2006

First Reported: 4/2006

Date of Status: 11/2010

Type: Auto Lease

Term: 39 months

Monthly Payment: Not Reported

Credit Limit or Original Amount: $27,272

High Balance: Not Reported

Recent Balance: $11,382 as of 5/2013

Status: Account charged off, $11,382 written off. This account is scheduled to continue on record until April, 2014.

Creditors Statement: Involuntary Reposession/Balance Owing

 

2. US Bank

(address, phone)

(account #)

(address id#)

Date Opened: 6/2006

First Reported: 6/2006

Date of Status: 7/2008

Type: Auto Lease

Term: 48 months

Monthly Payment: Not Reported

Credit Limit or Original Amount: $39,797

High Balance: Not Reported

Recent Balance: $16,798 as of Jan, 2013

Status: Account charged off, $9,312 written off. $2,345 past due as of Jan, 2013. This account is scheduled to continue on record until May, 2014.

 

I'd love to dispute these using Why Chat's guidelines. I've opted out, deleted as many old addresses as I could, & pulled carfax reports. Now I'm not sure which process is the best under my circumstances. Should I dispute these using Why Chat's Repo Letter or Why Chat's SOL Letter? In your opinion, which would have the fastest results? I'd like to get these off as quickly as possible.

 

Thanks in advance for all your help.

[Why Chat]

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

 

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

 

If you have opted out and deleted old addresses it is more than likely that the initial dispute letter from the Repo program will get you a deletion.