I am a newbie seeking some advice. I am newly married & my husband had a car repo before we were married & he has bad credit. His repo happened back in 2007 & he has not taken care of it since then. We had no one contact us about paying or anything. I checked his credit report and it says it was charged-off (which i know is bad) and the balance is around $8200, other than that we have no debt. We dont know what to do about this or who to contact. He is in the military & when we went to them for help they thought he was lying and trying to scam to get a car. He was deployed when he voluntary gave them the car there was a problem with who financed him and a couple months after he got the car they said we cant finance you anymore. I really want to get this solved already but we dont know who to call or what to do?
Forums
who did he finance the car through? they are the ones that you will have to get a hold of. Can you pull a copy of his credit report and see who is reporting the debt on his report, if you recently applied for a loan and was turned down that potential creditor may still have the information that they used to turn him down.
Other wise the easiest thing to do is to get a copy of his credit report and start there. You can get a copy free from any of the three credit reporting companies. Experian, transunion or ????, sorry brain cramp, can't think of the third one to save my life. I am sure someone will come along and know it. But just pull one from any of them. You can get one free one a year.
car repossession
Hi Daisy,
Welcome to this community :)
You should first pull a copy of your credit report. All the details regarding all the accounts will be listed on the credit report. So you will be able to find out to whom you owe the dues.
Goodnatured, the third one is Equifax :) . However, Daisy can pull her husband's credit report from www.annualcreditreport.com .
After finding out who holds the debt, you can contact them and work out a payment plan. If you can't pay the amount in full, you can request the collection agency (CA) to agree to a settlement. Debt settlement lowers the outstanding debt amount by 40-60%. Along with the settlement, you can also request the CA to agree to a "Pay for delete" (PFD) agreement. With the PFD agreement, the negative listing on the account will get removed from the credit report.
However, remember to send all the letters through certified mail, requesting a return receipt.
Hope this helps.
Regards,
Aaron
@ Daisy!!!!
Hi,
This is really a bad thing that some financier is taking a chance out of you.. i think you should check the entire credit report and know with whom exactly your husband use to finance and more over you can even plead the military people to look in to the matter as Defence personnel cant be treated like this.
I think its great annualcreditreport.com is getting so many referrals. Im SOOOoooo tired of that fake a@# free credit report.com stupid singing commercial.
They were sued and had to place a disclaimer in their commercial about possible fees, YES!
Go GO G0 annualcreditreport.com!
http://www.whatprice.co.uk/car/vehicle-repossession.html
I found and bookmarked this link ages ago, but it is pretty good explaining how the repossessions work.
Also since your husband is in the service, I think a letter explaining the situation should be taken under consideration and maybe they can be accommodating to special handle this case and help you out.
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