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I recently received my annual free credit report like I do every year. Upon viewing one of the credit files I realized that there was a mistake made on one of the accounts. About 4 years ago I had a vehicle repossessed. I could never agree to any of the terms they wanted to resolve the account so eventually about a year ago, I was served papers. Before going to court, I was finally in a place where I could offer about 80 percent of what they were suing for and they accepted. There was also a co-signer on the vehicle whose name always appeared first on all billing and statements ( not sure if that matters ). I got all the proper paperwork stating the the suit had been cancelled … I had my payoff notice in writing. When I looked on my credit report though, the original company that repoe’d the vehicle has " charged off " on my report. No where on my report does it say that it’s paid off or something along those lines. I then thought that possibly they had sold it to this debt collector/attorney place that had filed the suit against me but they are no where on my credit report at all. When I called the attorney to ask them, they said that they can not change the charge off status at the auto company. Is this true? If so, can the auto company change it or do I just have to let it sit there til it eventually comes off my report? Also, the attorney place told me that they are on the co-signers credit report with the paid off … not mine. Why?

About 4 or 5 years ago I had a car repossessed. Now I am trying to apply for a used auto loan and have been told because I have very little credit established and have a repossession on my report that I can’t qualify for an auto loan even with a co signer. I was told that even if I put down a lot of money on the car, it’s likely that I still would not qualify. Does anyone have any suggestions on how I can get a loan for a car. I have to have a car and I just don’t know what to do?

So, I was engaged to a girl a while back, and co-signed on a car loan with her. I ended up making several payments before we ended up breaking up. She paid for a couple months, but then stopped paying on the loan all together. The bank recently repossessed the vehicle. I have been in contact with the bank, as I have been doing business with them for years. And they’ve been really nice towards me. They understand that I’m not going to make payments on her car after we’ve broken up. But, nevertheless, it still affects my credit. The bank will sell the car and apply that to the loan. But whatever is left my ex, and I as a co-signer, are still responsible for.

Do I have any legal recourse against my ex for defaulting on the loan? Or is there a way I can get my name off the loan and disassociate myself from her all together? And if so, how much would something like that cost? Thanks.

I have a 2004 Dodge stratus that I owe 13,500 on and its not worth 7000. My husband also has a dodge TRUCK thats not worth 16000 but owes 29000, we are SO negative its not even funny and we both want new cars but cant get one cause our payments would be outrageous cause were so negative. We want new cars and have considered letting ours go back and in the meantime get brand new ones that we can afford and get a new house (rent) in the meantime, something where we can see ourselves being there for a long time. Only thing is i worryabout my credit…. my car is in my name and my husbands grandpa is co signer, on my hubbys truck its in his grandpas name and I am the co signer… how will this hurt me on either way? we want OUT OUT OUT of these negative cars so bad.

I was out of work and the cosigner told the dealer they were going to make the payment for that month and they didnt…I didnt hurt anyone’s credit because it showed up my credit report…by the time i was able to make the payment again the repossession was out of hand and they were nowhere in site, and they did this out of spite…

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