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Question By
bmgurru

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0 People Helped
Car Repo Triple whammy -
My Car repo is showing up 3xs in my report. As an open account with late payments, as a repo and in collections. is this correct? Seems like I am being battered 3xs by this company

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Top Contributor
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Okay, you had a car loan and the payments to whatever financial institution the took on the loan were late?  They have the right to report those late payments as part of you credit history. 

Then the account was sent to collections?  Obviously, payments were not being made in a timely fashion and the original loan holder got tired of paying staff to pursue a defaulted loan, so they sold it to a collection agency for a pittance and the collection agency now owned the account. 

BUT WAIT, THERE'S MORE!!  The collection agency was not getting paid, either.  So they decided to try to recover at least part of the money they put out for this account by repossessing the vehicle which they will have to sell at auction.

You're being battered by this company???? YOU WEREN'T PAYING!!! What did you expect??  You didn't fulfill your end of the contract so the proper legal actions were taken in the proper order. Quit whining about it.

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Reply by
tbdc

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498 People Helped

You are my hero.....Finally found someone else who thinks like me.THANK YOU!!!!!!

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