Toyota Motor Credit - over reporting
Date: Mon, 08/31/2009 - 10:51
We had to do a voluntary re-po with Toyota. They sold the vehicle for cheap,cheap,cheap at auction and are coming to us for the left-over debt. We have been paying them $25/mo for almost a year just as a set-it-and-forget-it since we can no way afford any more.
I just noticed that they have reported us 3 times in August as a charge-off on our credit report. Why can they report it 3 times. Doesn't each time hit our credit report even more - even tho its the same item. Are they allowed to just keep reporting it- they reported it in July & june also.
On an up-note I did manage to "settle" one of my $25,000 B of A accounts for $3500. I just kept offering them that amount for 3-4 months and they finally accepted. Every ounce of my real estate commission- however small that is right now is going to re-pay debts. Citi ( Home Depot) accnt just agreed to extend no interest payments @ $48/month for another year so I have some breathing room there.
Don't think we've (all of us) seen the worst yet tho.
I just noticed that they have reported us 3 times in August as a charge-off on our credit report. Why can they report it 3 times. Doesn't each time hit our credit report even more - even tho its the same item. Are they allowed to just keep reporting it- they reported it in July & june also.
On an up-note I did manage to "settle" one of my $25,000 B of A accounts for $3500. I just kept offering them that amount for 3-4 months and they finally accepted. Every ounce of my real estate commission- however small that is right now is going to re-pay debts. Citi ( Home Depot) accnt just agreed to extend no interest payments @ $48/month for another year so I have some breathing room there.
Don't think we've (all of us) seen the worst yet tho.
They will still continue to report the account status every mont
They will still continue to report the account status every month. If it's a chargeoff, then they will be reporting a chargeoff status every month until it's paid or sold off (or for 7 1/2 years from the date of first delinquency).
Thanks.. I have triple advantage due to the Countrywide Compromi
Thanks.. I have triple advantage due to the Countrywide Compromise and it's coming in to me as a negative "new" report.
At this rate I'll never be able to refinance in 2 yrs.
