After years and years of debt, charge offs and irresponsibility i am cleaning up my credit. I have a copy of the entire credit report and scoring with all 3 bureaus. I have a few things that are going to drop off between now and early next year so i have decided im not going to worry about those since i couldnt afford to anyhow.
There are 3 things that concern me.
About 5 years ago I had a leased car reposessed with about 6-8 payments remaining. After viewing my credit report i see there is no outstanding balance showing as owed and no judgement claim was filed. Transunion shows that the estimated date for the repo to drop is mid 2013. My question regarding the repo is should i try to contact my old lender to see if i made the payments owed if they would remove the repo? or should i just wait out the 2 2/12 years? My fear in contacting them is that they may say i owe more figuring in fees for towing or whatever. I am suprised there is no seperate line item for an amount owed to the car dealership as well as the repo but i dont want to open a can of worms by having them look into it and then something pops up on my credit report. My loan was financed through VW credit if anyone has any experiance or advice with them i would really appreciate any help. I also need to know how long a car company has to file a judgement against me for this. can i be sued at a later date even though this happend 5 years ago?
Next question is related to paying off old debt. After doing a ton of research on fixing my credit i tried to contact a collection agency that is holding one of my debts. I asked them if i paid off the debt in full would they first send me a letter stating that once the debt is paid off they would remove the negative marks from my credit. They said they couldnt send me a letter but they did say they would remove the debt from my credit profile. This company actually seems like they are reasonable but i am not so sure. Either way im going to have to pay it off very soon because the fall off date is 2016 and i want good credit after my repo falls off.
Last question - is it actually worth it to pay off debt that may fall off in a year or so while risking that they may not remove the negative information from my credit?
any feedback is most appreciated. i need all the help i can get to deal with this repo.
for both debts please help me with these specifics
do you have all your credit reports?
what state are you in?
what is the original creditor and the name of the CA?
what is the date of first delinquency? 30 days after last payment
this information will help me make suggestions specific to your case. The state will determine the statue of limitations for this debt. knowing the name of the OC original creditor, will help show if there is a specific govt regulators can intervene. Knowing the dates are very important.
repo
I have pulled all of my credit reports. The one i am most worried about because its going to stick on for another 3 years is the repo. I leased my car through VW credit of waukegan IL and it got reposessed. The loan was in california of which i am still a current resident. on my credit report it says date updated 1-2007. I am not sure what the original date for the deliquency is - i am too scared to call vw. there is no bad mark on my report for the balance of the lease. which i am sure i had another 6 months at least. I am afraid by calling them i may trigger something. I am just wondering if anyone has had any luck with getting VW to remove a repo.
for the other debt the CA was AWA and i have actiually worked that one out. They will delete the trade line after my check clears. I actually did some reasearch on them and am feeling pretty confident.
I also have this note from lvnv funding for a sears card i had about 8 years ago. i have 2 inquiry on my report for this debt. one is from the original creditor sears and is listed as a charge off and the other is for the same account thorugh lvnv funding listed as open and acruing interest. the original account credit limit was 700 and is closed with the sears tradeline but lvnv funding has it open with a balance of 1775. how long can they report to my credit file? i dont plan on paying it because on transunion the estimated date for it to fall off is 3/11 and i cant afford to pay it anyhow. if it falls off after the 7 years can they still report it?
i also have the same situation with chase but that one was supposed to fall off 11/2010. i sent a dispute to trans and eq that this was on file for 7 years now and they should remove but it looks like they report it every month. will they stop reporting it?
1. unless you buy the car, it cannot be repossessed. So this was a lease contract that was terminated early. the original date of delinquency is 30 days after the last payment. You need to figure this out from your end because, the CA and OC have incentive to mislead you.
In Cali the SOL is 4 years from last payment. Do you have a written agreement to pay for delete with AWA? because payment restarts SOL in Cali. I would ask for a specific agreement to delete tradeline and satisfy the debt.
I need specific dates (as much as you can) on VW. what you have said is confusing.
write to LVNV and Sears directly with a 623 letters. Make them provide records for the DOFD.
they can only report a debt for 7 years by federal law. a creditor can sue for debt with in the statute of limitations set by your state.
I was able to speak with a rep from AWA. They told me that while they cannot provide a letter up front to me for a PFD they will remove it from my credit within 30 days after they have received payment. They said they know what i am trying to do but their legal team has templates they have to follow and use and they cannot send any handwritten/typed letter. I spoke with 2 people who were not really rude and seemed trusting. I then did some research on their company to see if there are people who were promised something that neever happend and i didnt really find any negative responses. They have a B with the BBB and i read a few reviews with this same situation from other people and they all noted the negative reporting was removed. Once a debt is paid in full and a CA removes his negative reporting or tradeline - does the OC also get removed automatically or do i have to follow up with them as well and prove payment was made?
As for VW, yes this was a lease - i leased a jetta and fell into some hardship. I tried to make the payments and i kept in contact with them but they ended up sending me to collections. I was contacted by a lady who said she wanted to take the car away and if i didnt tell her where it was or turn it in right away i was going to go to jail because it was illegal to keep the car without paying. I only had about 6 more payments to make but this lady told me they did not want to work with me anymore and would just like the car back. After her calling me over and over i finally just turned the car into the closest VW dealership i could and let her know when it was done. After that VW never tried to contact me once and i was scared to call them. I neevr received any bills or anything from them. Now there is a repo on my credit that is expected to drop off on 2013. I am pretty sure it has been 4 years and if it hasnt been then it will be by Jan 1st 2011. It shows 0 balance due. Is there any way to get this thing off? or am i going to have to wait it out? I am scared that if i call them they can get a judgement against me for the remianing lease payments but according to this website they cant if they havent within the 4 year SOL for written contracts in the state of CA? This is the only reason i havent contacted them yet to see if they will remove it if i agree to pay the remaining lease balance or a portion of it.
For LVNV (ca) and Sears i will send 623 letters like you suggest. If the OC has been on my credit reporting negatively for 7 years then i can petition to have it removed along with the CA trying to collect the same debt, correct?
should i send a debt validation letter prior to the 623? or it is kind of like the same thing?
I need you to focus just on AWA for the next response. what does AWA stand for?
Cali law specifically states that if you send a payment the statute of limitations restarts. so if they don't least send you a settle for less agreement letter then they can sue you for the rest. and even if you are paying in full, they will find a way to ask for more.
what are the dates for AWA. what is the oc?
awa
Hi Cinnamngrl,
Thanks for taking the time to reply. I am sorry my posts are all over the place. They kinda reflect my credit profile. Its all over the place and this is the first time in my life where i am seeking outside help with true intentions of fixing my credit.
I am confused and have lots of questions and i didnt realize there were so many laws in place that actually protect me.
Its a lot to take in all at once.
AWA Collections is what is listed on my profile as the CA. They also seem to be affiliated with Coll. When i look up their website they register as AWAcoll.
They are collecting on behalf of Smile Dental who has also been reporting negative on my credit report.
Balance 919.00
Date placed for collection 01/2010
Date updated 06/2010
Individual account
Collection agency attorney
From a dentist
They will settle for 700.00 but i am not sure if that includes them removing negative from my credit profile. They said they do it as a curtesy. Should i ask for that? They said they will send me a paper to fill out with the debt specifics and then i sign and return and submit payment. SOL for Cali law is 4 years so i am sure they are within their limit. This is a new debt.
I want to be sure that once i pay this balance in full they remove their negative reporting and also have the OC remove their tradeline for negative reporting as well.
If i pay the CA does the CA then update the OC to remove their negative line from my credit as well? or is this something i have to follow up on?
It really sounds like they will delete the negative reporting. I did some googling and read some user reviews and they seemed pretty good for a CA.
y
you cannot be sure that they will delete unless they will write out such a promise and send it to you. I guess I would not pay more thean 700 unless they specifically promise to delete. So ok within SOL go ahead and settle if they delete that will be a bonus
what would you like to talk about next
now the repo
I have a defaulted loan with VW credit and i turned the car in voluntarily.
Is there a SOL on how long they can file a judgement against me for the remaining unpaid balance of the lease loan? The repo does not show a balance due it only says high balance 11000 which i am assuming was the amount of the loan and i only had about 6-8 more payments at 230 a month left before the lease ended on good terms.
I want to contact VW credit and see if they will remove the repo in exchange for payment of the balance of the lease loan but if they dont want to work with me i am worried they may file a judgement or try other avenues to collect.
There is no balance for the repo on my credit, it just says reposession and mechandise was returned to seller. I dont want to open a can of worms so what should i do? how long do they have in the state of CA to file a judegment or try to collect? From what i have read i assume its 4 years but i dont know if it differs when dealing with car loans and repo's.
Any advice would be great!
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