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Posted in Auto Loans
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Question By
chanelleshay

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Where did my repo go?
So I financed a car December 2014, never missed a payment and had it for about seven months. I quit my second job an could not afford the $388/month payments any longer so I surrendered the car. They came and picked it up and I received a letter that I owed about $16,000 total and that the car would be sold in auction. So a few months later nothing happened and I went to check my credit annual credit report sometime in November of 2015 and it showed a surrender on my credit report with balance stating PAID. It was under closed accounts. Now I have logged back in this month February 2016 and I cannot even see where there ever was a repo. What does this mean? Do I still owe?

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Its possible they sold it for enough to pay the amount owed. If that is the case, you got lucky. Just keep an eye on it. 

Reply by
chanelleshay

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Thank you for your response. Lets hope so!!

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