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It’s been over 8 years on my credit report

After a voluntary auto repossession, your credit report gets a bad hit. My question is after the auto is sold at auction and there is a differences they will try to collect the differences from you. If you refuse to pay that amount does your credit report get hit again with a bad mark? If you get a repossession on your credit report for turning the auto in then why would you want to pay that amount of money they are trying to collect from you?

I was very past due on the car payment- 71 days and finally paid my past due balance in full on 2/22/10 through my online banking account. My bank shows a posted transaction payment to my auto credit company on 2/25/10. At 12:30am on 2/26/10 they repossessed my car. I called the credit company at 8am the same day of the repo and they said they did not receive payment. I called my bank and they said that the credit company has received payment which cleared on the 2/25- a day before the repo. When I called the credit company again they said that they did not see the transaction prior to the repo and it showed payment was received on 2/25/10. The credit company then continued to say that because I paid with online banking as an electronic check they do not consider it a form of legible payment because I could cancel the transaction with my bank at any moment (ie "made payment to wrong company") they want a payment through something like Western Union. My major question to this information is can the credit company still request that I’m responsible to pay the repo fees, towing and storage fees even though my past due balance was paid on and cleared to the credit company before they actually repossessed of my car? Is this legal in the state of WA? The credit company keeps telling me that I need to cancel my payment through my bank and send them a payment through their ok’d payment options (ie western union). Please help!! I’m not sure if the credit company is trying to pull one over me because they messed up on a repossession notice that technically should not have happened had they seen my payment before the tow truck came to my home.

My credit is trashed as it is, so rule that out. I am late 23 days on the mortgage, but only 12 days behind on my car loan. The lender with the car loan is Capital One Auto Finance. If I pay the mortgage late, it will show up on my credit report, which is trashed, but if I could salvage anything it would be a late mortgage payment. I dont want the car repossessed though, it would seriously destroy my life, no means to get to work, etc.

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