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Getting old late pays removed from a car lease?


EWMich
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I am new here and my brain hurts from all the reading I am doing but I have a question I didn't see or over looked. I had a lease on a vehical from 99-2002. My parents cosigned on it for me back then with the condition that I gave my mother the money so they would know it was paid. Well unknown to everyone my mom got into some debt one way or another and was using the cash I was giving her to catch up whatever she was paying. It is the only bad thing on my credit but it is real bad. There where something like 15 30 days late, a handful of 60s and I found out that at one point it was going to be repoed but she paid it so they wouldn't.

I NEVER knew about it until last summer when I was thinking of buying a house but obviously couldn't. My credit score is now in the low 600s but I am sure them dang late payments are killing me. Is there ANY way I can fight it? I was so steamed when I found out I didn't talk to my mom for 6 months and I still get upset over it when it gets brought up. It's so bad I take everything she says with a bit of suspicion now.

Anyway, is there anything that could possibly be done? Would explaining it to the credit agancies do any good if she where to admit it? I am willing to try anything. I will be purchasing a home in about 8 months and want this settled if possible.

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Welcome!

There's really nothing to "settle". The debt is paid off.

You don't need to "explain" anything to the CRA's. The CRA's only obtain, maintain, and distribute information.... they have no "authority" in actuality, although they believe otherwise.

You can add a statement to your reports (per the FCRA) to alert potential creditors to the issues that led to the derogatory information, but they just ignore it, and if they do insert it, edit it to a couple words.

If this was done and over with in 2002, you're looking at 2009 before it's gone for good.

First thing is to dispute the information. That's an 'automatic'.

Second thing is to consider writing a "goodwill letter" to the executive offices explaining your situation. You're asking them to look into their lifeless souls to find it in themselves to throw you a bone.

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Thanks for the quick info. By settled, I simply meant taken care of;)

I have learned more about repairing my credit in the last couple hours than I knew was possible. So I should just report it as not mine with the CRA and hope for the best there and then contact GMAC, should be fun, and ask forgiveness for the lates and hope to God they believe me...lol, should be interesting to see their response anyway.

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Thanks for the quick info. By settled, I simply meant taken care of;)

I have learned more about repairing my credit in the last couple hours than I knew was possible. So I should just report it as not mine with the CRA and hope for the best there and then contact GMAC, should be fun, and ask forgiveness for the lates and hope to God they believe me...lol, should be interesting to see their response anyway.

I didn't have much luck with the Goodwill & GMAC. But, it was deleted after disputing not mine. It was paid off in 00'. Good luck :wink:

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It really ticks me off that I have to go through this because I DID pay, wish I would have sent it in myself but that is by gones..anyway...

Is it possible to call the CRA and claim not mine or is mailing in a letter better? I was thinking I would just sit down and give them a call today. My credit reports defniitaly need some spring cleaning. I had some late pays on a Discover card showing up even though we had an agreement that when I was out of work a couple years ago they would defer the payments...obviously that was not the case. It has been current for about 2 years now. That GMAC thing is really pissing me off though.

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