my car was repo’d when it was paid in full!now its on my credit report! WHY?
hello! heres my story…every year i pay my car note for an entire yr incase i lost my job or ect ect at tax time with my taxes..its about 5,000. my car payments are 457.00 per month. So…i have 6 payments left as of jan.2010, i called honda and told them i would be paying it off..long story short there was a problem with my student loans and it delayed me paying them. for the month of jan and feb..and then march 1st another car payment was due so that totaled 3.i didnt pay them cause i figured my taxes were coming..they finally did end of feb…i sent honda the minimum payments due plus late fee and interest, totaled like 1,399. or something…well i did that on tuesday morning at 9am..wednesday morning i wake up and my cars gone.i called them they pretty much made me run around for 3 days faxing them things proof that i have a job, references, my checking account statements ect. the towing fee and storage and everything ended up being 900.00.i have my car back now–BUT i have this credit alerting thing where they alert me when my credit report changes..so i went to their website and it says i have a involentary repossession! i mean how! i paid it was late but i paid! they never told me they were eveing coming to repo. i got a certified letter a day before on monday but i didnt get off work on time to get it! so i didnt even know, my question is….if i paid for the car to come back to me and it didnt end up getting sent to auction why and is it legal they reported as repo’d instead of just late? thanks god bless
I got to the 3rd sentence then realized you have the same story as everyone as being repo’d.
” story short there was a problem with my student loans and it delayed me paying them. for the month of jan and feb..and then march 1st another car payment was due so that totaled 3″
When you signed the loan agreement you gave them the right to do this, that’s why they did it and that’s why it’s on your CC report.
Unfortunately your car was repossessed for non payment of over 90 days. Even if you did end up paying everything and get the car back, you were still delinquent on payments and they still repossessed it. I don’t think you can get it removed. Sorry.
It was reported as repossessed because it WAS, you said so yourself. They did not have to notify you in writing, you agreed to them doing it when you originally signed the contract.
You fixed it, got your car back, but the fact remains, your car was repossessed. Other lenders have a right to know that Honda had to go that far to be paid.