seanheal Posted December 1, 2007 Report Share Posted December 1, 2007 My wife had a lease agreement w/ GMAC that was opened in 2000. We turned the lease in in 2003 with a mileage balance that totaled $1,200. She failed to start payments for about 6 months but did pay the debt off in its entirety. But now it is showing up as a "Paid Charge Off" Is this correct? Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 1, 2007 Report Share Posted December 1, 2007 My wife had a lease agreement w/ GMAC that was opened in 2000. We turned the lease in in 2003 with a mileage balance that totaled $1,200. She failed to start payments for about 6 months but did pay the debt off in its entirety. But now it is showing up as a "Paid Charge Off" Is this correct?sounds about right. are they reporting the same thing to all CRA's? Link to comment Share on other sites More sharing options...
madeline Posted December 1, 2007 Report Share Posted December 1, 2007 Link to comment Share on other sites More sharing options...
madeline Posted December 1, 2007 Report Share Posted December 1, 2007 My wife had a lease agreement w/ GMAC that was opened in 2000. We turned the lease in in 2003 with a mileage balance that totaled $1,200. She failed to start payments for about 6 months but did pay the debt off in its entirety. But now it is showing up as a "Paid Charge Off" Is this correct?I had the same thing happen to me with GMAC. After my car was totalled I waited to see what the insurance company was going to pay, so I didn't pay on my loan for a while. (They didn't send a bill either) After they paid I was left with my $2,000.00 deductible which GMAC billed me for, and I started a payment arrangement with them for $100.00 a month. After about a year of making payments ($800.00 left) I found out they reported me as a charge off. I've been trying to dispute this. Any suggestions? Link to comment Share on other sites More sharing options...
seanheal Posted December 2, 2007 Author Report Share Posted December 2, 2007 I'm going to write a "Good Will" letter to GMAC and keep my fingers crossed!!!!!!! Link to comment Share on other sites More sharing options...
lovebug5 Posted December 4, 2007 Report Share Posted December 4, 2007 Well, I might as well chime in here...I've been dealing with GMAC for about four months now with a somewhat similar situation. Leased a car in 2000 as the co-applicant, changed residences and no longer co-habitated with the primary applicant in 2002. Primary applicant returned the car in 2003 with no balance, however, I was never notified by GMAC that there were any late payments. Lo and behold, late payments magically appeared on my CR.After three DV attempts, three Section 623 investigation attempts, two ITS letters, a BBB complaint, an AG complaint and an FTC complaint, I have yet to see any results. Time to take them to court. Link to comment Share on other sites More sharing options...
lovebug5 Posted December 10, 2007 Report Share Posted December 10, 2007 UPDATE:GMAC responded to my BBB complaint as of about 10 minutes ago, which resulted in deletion of the TL from my CR's. Just as an FYI... Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 10, 2007 Report Share Posted December 10, 2007 UPDATE:GMAC responded to my BBB complaint as of about 10 minutes ago, which resulted in deletion of the TL from my CR's. Just as an FYI...SWEEET! Link to comment Share on other sites More sharing options...
lovebug5 Posted December 10, 2007 Report Share Posted December 10, 2007 SWEEET!I know, right! I was incredibly pleased with this outcome. Although removal of the TL will remove the nine lates which are hurting my score, it's also removing 2.5 years of positive payment history which I'm assuming will ding me as well...But the fact that it's being removed makes me mucho happy! Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 10, 2007 Report Share Posted December 10, 2007 I know, right! I was incredibly pleased with this outcome. Although removal of the TL will remove the nine lates which are hurting my score, it's also removing 2.5 years of positive payment history which I'm assuming will ding me as well...But the fact that it's being removed makes me mucho happy!One of my last baddies is a CO that's reporting a 0 balance and hasn't been updated in 4 years. I plan on tackling this one after I apply for student loans.. I'm afraid that I will take a dip in score if they "update" the TL or some other crap until I can get it deleted. Link to comment Share on other sites More sharing options...
lovebug5 Posted December 10, 2007 Report Share Posted December 10, 2007 I figured that my dip in score from the deletion of this TL's positive payment history will be counter-acted by the positive payment history of my new TL's...So in the end, it'll be beneficial. I hope. LOL. Link to comment Share on other sites More sharing options...
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