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 Posted: Mon May 08, 2006 7:44 am Subject: 1994 Charge OFF-Need advice |
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If you have a charge off that was opened in 1994 and reported on C.R. 2003 is there like so many years that it can stay on your credit and it will be like wiped off? ( wishful thinking?)  I voluntary gave a car back to the car lot before I moved to another state. They begged me to keep the car( due to a ol' cheap ol' ripe off ol' car lot)  but I refursed I told them I am not sure when I move if I'll find a job and I didn't have time for anyone to come looking for me with the police about a payment. The guy finally came to get the car and told me that it will be on my credit as a voluntary repo. LIAR, LIAR, LIAR. IT WAS THE OTHER WAY AROUND. I found out in 2000 (when I tried to purchase a car) that it's listing as INVOLUNTERY. It is on my credit as a charge-off. Anyway I later found out that when I gave the car back I should've gotten it in writting. I almost got from up under this when the Chamber of Commerence tried to locate them and told me if they couldn't locate then it could be off my credit. He found them working out of a mobile home as collections because the company went Bankrupt. We'll I just called and the guy that answered just said "Hello"( not the name or nothing) I asked him was this the name of the car lot and he said yes may I help you. I told him very little he then gave me a# to the "LEGAL DEPT" omG!!  The car lot is charging me $3,735.00 this is the differnce I have to pay based on the amount they claim they had to sell the car for less then what was financed to me. I wonder why because I only had the car for about 1 month and I know that car was in very good shape. Anyway I am paying on other debts at this time and can't afford to make arrangements yet. Do I leave this alone until I can make arrangements? Will this like go off my credit in a few years?  HELP
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lewis6275
Joined: 20 Mar 2006
Posts: 7
Debtcc Points: 273
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| Posted: Mon May 08, 2006 8:27 am Subject: |
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lewis6275
if the repo happened in 1994 it is out of statutes. if the report happened 6 years later you can contact the CR's and dispute to have it off your credit. otherwise it takes up to 10 years to get off your report. it seems this was 12 years ago and in this case you can have it removed. let us know more
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kalevala316
Joined: 23 Mar 2006
Posts: 130
Debtcc Points: 1601
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| Posted: Mon May 08, 2006 8:45 am Subject: |
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Hi lewis6275
The Fair Credit Report Act(FCRA) allows negative information to stay in the credit file for a period of seven years only except bankruptcy. Since the said account is past the reporting time, it should have been automatically removed from your file by now.
Dispute with the credit bureau and they will run an investigation with your information providers. This item will be removed from your file and you will be sent a free copy of your credit report within 30 days time.
Do your correspondences in writing through certified mail with return receipt requested. Keep everything documented in a file so that you can prove your actions in the later period.
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curlycarl
Debt Samaritan
Joined: 21 Jan 2005
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