LAClipper

Wells Fargo Dealer Repossesion on Credit Report

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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

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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.

 

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