LAClipper

Wells Fargo Dealer Repossesion on Credit Report

3 posts in this topic

LAClipper    6

Wells Fargo Dealer Services Repossesed my Car in Dec 2010 for missing 2 payments.

 

I was sent a Notice of intent to sell property and in it it an option to Reinstate if I paid the remaining balance plus any fees added.

 

So i Paid the amount owed in its totality and in a few days recovered my vehicle and later was sent the Pink Slip.

 

Now this shows up on my Credit Report as a Repossession, even though I reinstated the contract. 

 

1. What options do I have at this point to repair this account on my report?

 

Account Name: WFDS/WDS

ACCOUNT TYPE: Auto Loan Closed

 

Experian shows as Paid was past due 120 days

Equifax shows as At least 120 days or more than 4 payments past due/ Paid Account Zero Balance

Transunion shows as Repossession / Closed

  • Like 1

Share this post


Link to post
Share on other sites
Clydesmom    956
On 5/8/2014 at 11:15 AM, LAClipper said:

Now this shows up on my Credit Report as a Repossession, even though I reinstated the contract.

It was a repossession.  At the instant they picked up the car it was repossessed.  Reinstating the contract/paying the loan off merely allows you to keep the vehicle it does not erase the repossession.

On 5/8/2014 at 11:15 AM, LAClipper said:

1. What options do I have at this point to repair this account on my report?

A good will letter to Wells Fargo.

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now