Jump to content

Sign in to follow this  
Mpwilly

Advice on Charge Off from Ford Motor Credit

Recommended Posts

I'm looking for advice on a strange situation. I lease vehicles with Ford Credit and turned in a leased vehicle two months early and started in a new lease in March of 2014. The dealership was to pay the remaining two remaining payments in exchange for me leasing a new vehicle.

I hadn't thought anything of the situation and hadn't had any credit issues at all. Until late last week when LifeLock alerted me to a judgement. The judgement was a Charge Off from Ford Motor Credit on 9/2/19 for the amount of those two remaining payments.

That caused me to look at my credit report, which I unfortunately hadn't been monitoring as I use my credit cards responsibly and have leased 4 vehicles from Ford since 2014.  

Upon looking at the reports, I found an account closed from Ford with the status as "Collection" in the same amount of the remaining two payments. The date of last activity was listed as 3/1/2014. Now, on 9/2/19 I get a dinged for a Charge Off and it has dropped my credit score by 45 points! I've never once been made aware of the issue via mail or phone or via Ford when I leased other vehicles.

 

Any recommendations as to how to get it removed?

Share this post


Link to post
Share on other sites

Welcome to Creditboards!

We hope that you find what you're looking for here.

Some helpful tips:

  • Your post may not get a reply right away. Don't be discouraged, this is a very busy board. If it falls off of the first page, feel free to reply to your post yourself, with the word *bump* in the text. This will *bump* your post back up to the top of the board.
  • If you haven't yet, take a peek at out Newbies Section. Everything that you need to know is in that forum, for the most part. It's a lot of reading, we know, but this credit stuff can have a steep learning curve. In no time, you'll be posting like the pros!
  • If you find that someone is discourteous to you, use the REPORT button at the top right of every post - that will ensure that a moderator or admin looks at the post and decides if it is against the TOS.
  • Off -topic posts should go in the General Forum.

 

Again, welcome to the CreditBoards family!

CB Admin: LKH, Pam, radi8, :angel:breeze:angel: & MarvBear

 

Share this post


Link to post
Share on other sites

I have an email trail from the dealership sales person saying the remaining two payments would be handled by the dealership.

Share this post


Link to post
Share on other sites
16 minutes ago, Mpwilly said:

I have an email trail from the dealership sales person saying the remaining two payments would be handled by the dealership.

Take that email and a copy of your credit report showing the charge off and go in person to see the General Manager and raise hell till you are satisfied.

It would be better if that statement had been on paper as an official part of the deal paperwork.

Share this post


Link to post
Share on other sites
3 hours ago, MarvBear said:

Take that email and a copy of your credit report showing the charge off and go in person to see the General Manager and raise hell till you are satisfied.

It would be better if that statement had been on paper as an official part of the deal paperwork.

+1

Also bring a copy of the contract/lease info that you got from the finance guy when you signed the paperwork. 

And go straight to the GM’s office and let him know you want to speak to him immediately. Obviously be polite and don’t interrupt if he’s busy, but let him know there is a problem he needs to fix. Since you’ve purchased/leased 4 vehicles from in the past 5 years, make that known. A dealership will generally be more willing to quickly help a customer that buys that often. I’ve done this a few times over the years when I’ve had an issue with dealership employees. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Today's Birthdays

    1. footballgirl
      footballgirl
      Age: 47
  • Member Statistics

    • Total Members
      177,450
    • Most Online
      1,528

    Newest Member
    blondieek
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines