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Someone please help me with car repo questtions?????


jatneal
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Hello All,

I am new to this site, and I have so many questions to ask and no clue on where to start. I am currently working on cleaning my credit and unfortunately I just ran into a repossesion.

So to make a long story short I financed a car in Aug 06 from Pro Car Auto lost job and they charged off car in Sept 07. The amount that they charged off car for was 6,663.00. They sold account to a collection company called Recovery Management. I contacted CA in January of 08, and paid them $2000.00, and set up payment arrangements which brought balance down to $4,496.00. Unfortunately yet again was laid off and couldnt afford to keep payment arrangements with Recovery Mgt. I was able to hide car for about a year and they just repossesed the car in February. I pulled my TU and Experian reports today neither of them show car as being repossed. In fact neither account shows on Experian. On the TU account OC is showing current balance being the same as the CA. Shouldnt OC be reporting as $0? I did some research and found out that the CA is actually in-house recovery department for OC is this legal for them to sell this account to an "in-house" collections agency and them both to report on my credit?

I have not recieved any notices about a sale or anything, although I did recently move to another city which is where the car was repossed from. So I know that they have my current address, plus it shows the current addy on CR. Funny thing is the day before it was repoed I called the CA to get correct account #'s so that I could send them a PFD letter. I even spoke with a rep who gave me all the info, but he never tried to collect which I thought was strange. The next morning I came outside and my car was gone. I then saw a case where the same CA and OC sued someone for non-payment and the court reversed the original decision of the OC being rewarded for something to do with(please pardon my ignorance) collection rights not complying with R.C. 1319.12©...I have no clue what it means, but it says something about the appellee not properly commencing litigation for the collection of the assigned account.

My questions are:

1. Is it legal for OC and CA to sell accounts to each other considering that OC is probably parent company and both continue to report current balance?

2.Shouldnt it show as a repo on CA listing?

3.Is there any way I can dispute any of this with the CRA's

Any of your expertise would be greatly appreciated because I have no clue where to start or what I am doing.

Nice to meet you all,

Taya :)++

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...My questions are:

1. Is it legal for OC and CA to sell accounts to each other considering that OC is probably parent company and both continue to report current balance?

2.Shouldnt it show as a repo on CA listing?

3.Is there any way I can dispute any of this with the CRA's

If the various entities are truly separate legal entities but all owned by one person/parent then it's probably "legal", yes assuming they have actually sold the account at all...who owns who is a tangle that would probably take a long time to untangle and unless they are inflating numbers, etc...probably not material anyway.

If a repossession isn't reflected as a repossession on your bureau reports I'd count myself lucky and move on.

You can dispute anything but if the reporting is accurate (actually in your favor if the repossession isn't reflected as such), why would you? If the reporting is actually wrong and, because it's wrong, is damaging your credit then dispute it.

I'd suggest, however, that at the moment, this debt hanging over your head is where you should be focusing your attention; not your credit report.

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