voluntary repossession

[lynnetterouse]

I got a car from Ford back in 1988, when i lived in New Jersey and took it back to the dealership, in 1989, i was 19yrs old and simply could not afford to make the payment. Of course this was on my credit report for 7yrs.-10yrs., then it was off of my credit report. Now all of a sudden it is back on my credit report, now for the past 2yrs and I now live in Pennsylvania. I need help on what i should do - I want to be honest w/you, i don't want to pay for it, being that it was on my credit report for so long, however, if there is sometype of advice you could give me, i would work on this. Also, I am just not understanding, my credit score is currently 715, so why should i have to clear it up. I am not an homeowner yet and would like to be soon, please help me.

 

[seniorjudge]

I don't understand.

If you don't want to pay it off, then what kind of answer are you looking for here?

 

[lynnetterouse]

if infact i have to pay it, i would have no choice in the end. i guess i am looking for its been well over sometype of statue of limitations, and i would like to know how little can i possibly pay. what are the steps i need to take in getting this off my credit report, if it was off for a few years, now back on since i am now a resident of PA

 

[seniorjudge]

Standard answer on expired SOL (statute of limitation) and/or validation and/or dispute letters. There are thousands of posts similar to yours on this forum so I have prepared a standard answer.

SOL (Statutes of limitation are DEFENSES to lawsuits; they do NOT provide a method to stop someone from suing you. This defense means when they sue you, you answer with the defense that it is barred by the SOL.)

http://www.bcsalliance.com/y_debt_sol.html

http://www.fair-debt-collection.com/Disputing_Collections/SoL-dispute-letter.html


Validation letter samples you can get at :
www.creditinfocenter.com
and www.creditboards.com

Make sure you ask for VALIDATION (and do not accept verification).


Disputes: You can write a letter of dispute to the three credit reporting agencies.

Go this website to find instructions and samples for how to dispute: http://www.creditinfocenter.com/creditreports/

Sometimes errors are easy to remove and sometimes they stick like glue. It is inexpensive to try and not difficult.

I am NOT a creditor-debtor lawyer; stand by for further help.

I am NOT vouching for the accuracy of these websites!

Debt settlement:

http://forum.freeadvice.com/showthread.php?t=293829

 

[upforgrabs]

Rouse,

I need to inform you of mistake number 1. FORD, these types of vehicles are out of control..Ever hear "Fix Or Repair Daily"? Ever hear "Found On Road Dead"?

I would let those re-po guys just take the car and be done with it. Then what I would do is call your local authorities and report the vehicle stolen. I would also suggest that you then contact an attorney immediately.


thanks,
upforgrabs
posts are considered my opinion only and have no legal meaning whatsoever.