melisadawn Posted June 27, 2003 Report Share Posted June 27, 2003 What wxactlt do they mean on last activity? NAC has last activity as 5/1997 then they sold (yes says SOLD) to asset acc. and asset has last activity as 2/1998. We have never heard from asset. Thoough I do not think I am going to do alot of fighting with asset. just wondering if this was a reage? Link to comment Share on other sites More sharing options...
kb9tbq Posted June 27, 2003 Report Share Posted June 27, 2003 If last activity (or you know you last made payment on account on 5/1997 and never made another payment until after charge off status) then the following month will be 6/1997 the 1st delinquency add 180 to 210 days to this to get either 12/1997 or 1/1998 for the true charge off date.So they are off one month only on this part, and that is a usual for whenever it took for them to submit their tapes initially starting the reporting of the account. 2/1998 is when they are showing the charge off to be (it is not actually the last activity) know that this can be misleading on the reports for so many different variations.If anything it is only one month aged on this account.So if you add 7 years to this, and it should show to expire off of credit report by 2/2005 at the latest. Link to comment Share on other sites More sharing options...
melisadawn Posted June 27, 2003 Author Report Share Posted June 27, 2003 Thank you kb. Also I heard....Not sure on truth of this...That is OC on a repo car auctions the car off that they have to deduct off what you owe for what they got on car bought car 10,000 Owed 6000 at time of repo auctioned for 5500 We would owe 500 on loan not 6000. This is what I heard so I was wondering. Link to comment Share on other sites More sharing options...
kb9tbq Posted June 27, 2003 Report Share Posted June 27, 2003 Yes, exactly you actually got pretty lucky on that part,The auto lenders are not in the business of selling these cars for the best price, they just dump them and take what ever is offered.See people get stuck for a lot more, on these things.Unforunate, but still you came out decent for what might of been. Link to comment Share on other sites More sharing options...
melisadawn Posted June 27, 2003 Author Report Share Posted June 27, 2003 That was just an example. I can not remember what he paid for it. Could not be more then 5-6k He bought it in 97 and the car was an 89 grand prix. He put 700 down and payment were 200. Which did not last long. He only made a few payments and car broke down so he let them repo. They say he owes 4821. Now that it is with asset it is over 6k. But I do not think they deducted for auction. He said he does know it was auctioned. Awhile ago he said it was auctioned off and he owed nothing now. says his credit limit or high balance is 4821. So not sure if this is what loan was for or what he owed after paying. There are no other amounts on any of reports from OC. I am trying to dig in this as the account is with Asset Acceptance and being in Ohio they have 20 yrs. Trying to find any loophole I may be able to go with. Not even sure if dealership is still in business. If so do they have to have a record on the auction? If they are out of business how can they validate? It was a buy here pay here place but the loan was National Auto Credit. Link to comment Share on other sites More sharing options...
kb9tbq Posted June 27, 2003 Report Share Posted June 27, 2003 I am not sure on this subject where you would look to find records of action to see what it was sold for or what was remaining on loan prior to the sale. If the collection agnecy currently bothering you on this matter right now?This is a really hard one with them having 20 years, to address the matter. If they are not bothering you, then digging might stir up trouble, but if they are calling and such, least give DV a try to see if they can give accounting of this matter.I know there are other members on this board, that are able to answer these questions for you, if memory serves right LadynRed or maybe even Cookie might have answer for you on this matter. Link to comment Share on other sites More sharing options...
melisadawn Posted June 27, 2003 Author Report Share Posted June 27, 2003 No not bothering me. Not sending dv letter either. Was looking for a loophool in case I could proceed. I did do a "not mine" in TU july 12 and pulled his EX today and asset shows in dispute on EX. This was b4 I learned SOL. Link to comment Share on other sites More sharing options...
kb9tbq Posted June 27, 2003 Report Share Posted June 27, 2003 Ouch, that means they know of your doings and you might just be hearing from them soon for collection efforts.Definitely create a new post in the legal or collection section looking for ladynred, maybe even calawyer can help you. But title your post as:Need info on Repo / auction amount lookup?That should do it, to get the right people in that can help you the best. Link to comment Share on other sites More sharing options...
sisflomi Posted June 28, 2003 Report Share Posted June 28, 2003 These links might help you with repo lawshttp://www.independentdealer.com/finance/finance9.aspBuy Here Pay Herehttp://www.independentdealer.com/humanresource/human.aspOH Retail Installment http://community-2.webtv.net/YChallenge/storage/page13.html[Edit by sisflomi on [TIME]1056783285[/TIME]] Link to comment Share on other sites More sharing options...
kb9tbq Posted June 29, 2003 Report Share Posted June 29, 2003 Here is some information which Calawyer posted originally - I just managed to find it and repost:http://d4003921.u51.infinology.com/cgi-bin/cutecast/cutecast.pl?session=HK9Db3BGUwDwAS7Smwevw5XYL0&forum=19&thread=9593But it addresses various angles - thought you might like to review this one.Know it addresses out of SOL - but still interesting.[Edit by kb9tbq on [TIME]1056853533[/TIME]] Link to comment Share on other sites More sharing options...
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