67 People Helped
Member Since: March 2014
My credit report shows a repo on an auto loan. Truth is my auto was stolen and impounded. I reported this to my credit union and in order for me to get the car released from the impound I had to pay the credit union fees. They inturn rewrote my auto loan and listed the original loan as a repo. This should be against the law since the car was reported to the police as stolen. I should not have a "repo" on my credit report. I am still paying for the car and have not missed a payment. Credit reporting is not accurate. My opinion....credit reporting is bogus.
badreporting's response was:
Enter Your Reply My report says I have a Repossession for my auto. the auto was impounded but I paid and got the auto out of impound. My credit union, which I was financed through and still paying for the auto, reported the auto as a repossession. Fact is they said because of the impound the auto had to be refinanced. I have been making payment every month. The credit report shows the account current but it also says the account is closed. the credit union is not reporting my payments. I went from an 18k loan to only oweing $102.00 presently. I have paid for this auto twice, missed no payments. yet my report shows "closed account" and "repossession". its a lost cause to file disputes or to try communicating with credit bureaus. I'll just live with bad credit.
badreporting's reply was: