Remove Repossessions

Not only does car repossession take away your transportation, but the mark it leaves on your credit reports can cause you to be denied for car loans in the future. It’s a nasty turn of events for someone who may’ve just lost their job or had some other type of financial emergency.

Can you get a repossession removed?

Getting a repossession removed from a credit report depends entirely on your situation. If the listing in not completely correct, or maybe it’s not your repossession at all, you’re within your legal rights to dispute the account with the credit bureaus. The credit bureaus will then need to investigate the claim and validate it, correct it or completely remove it from your report.

The other option involves dealing directly with the creditor to work out a pay for delete agreement. In other words, once you pay them the agreed upon money, they’ll stop reporting it to the bureaus.

Get Everything in Writing

This is especially true of pay for delete terms. Collectors are just trying to get you to pay by any means necessary. If promising to stop reporting that account to the credit bureaus gets you to send a check today, then they’ll promise it. But don’t expect them to remember it when it comes time to remove it from your credit reports.

Needless to say you should get everything in writing before you make any payments. Obviously make sure that you keep up with the terms of payment, otherwise the repossession will go right back onto your reports.

Ready to pull you hair out over your credit reports? Contact My Credit Group for a free credit repair and debt relief consultation and a breakdown of your specific situation.