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  1. #1
    Join Date
    Mar 2005

    HELP - Redeemed car repossession

    I live in New York. In May, 1999 my car was repossessed (I was a college student and I fell behind). I redeemed the repossession immediately (within a week) and have since paid the car off. The financing company (GMAC) has consistently (since May, 1999) listed my car as a repossession - never indicating that the car was redeemed. I have written to them. I received one letter back from GMAC indicating they made a mistake and have forwarded the correct information to all credit bureaus (this letter is dated back to 2003). Every year my credit report lists the repossession as active and never mention that it was redeemed. The repossession is currently listed as being taken by GMAC in July, 2003 (which it was not). I had the title to the car and have since given the car away (it was the worst car I've ever had - don't buy a Chevy). I gave the car to a family friend, so I can get a copy of the title.

    As I am trying to purchase a house, this continued listing of a "repossession" is killing my credit. GMAC has never rectified the situation. I filed a complaint with the FTC in 2004, but I have heard nothing back. I have also filed a dispute with the credit bureaus. Nothing seems to have worked.

    Does anyone have any ideas or advice that may help me remove this very damaging information from my credit report? I truly could use some help. I'm a single mom who would like to buy a house for my daughter to grow up in. Please help. Thank you for your time.


  2. #2
    Join Date
    Feb 2005
    New York
    It seems to me that you should have received something back from one of the three credit agencies.
    Mail them a dispute letter stating that the car loan was paid for - if you can, get proof from the lending bank to support your claim. When you send this to the credit bureaus, mail a copy of your license with it************** make sure your SSN is listed, too**************
    Experian po box 2104 Allen, TX 75013
    Transunion po box 2000 Chester, PA 19022
    Equifax, PO box 740241 Atlanta, GA 30374

    good luck

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