Mannerheim

New Car Denied

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Hey!  I'd appreciate any help or input.

I voluntarily turned a car back to GM Financial last year.  My dad had cancer, and insisted I take his car.  Ended up with a chargeoff balance of $14k+.  I need a new car now, and no one will touch me because of this balance.  

GM pulls Transunion.  I just noticed that EQ and EX report my loan date as 9/1, and TU reports it as 9/3.  Would it be possible to dispute the TU listing, and get it removed permanently for bad date, or would it just be corrected, and remain?  Any other ideas to get rid if this chargeoff from OC?

THANKS!

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7 hours ago, Mannerheim said:

Would it be possible to dispute the TU listing, and get it removed permanently for bad date, or would it just be corrected, and remain?

They will simply correct the error and it will stay there.  Chances of it being permanently removed for a clerical error are ZERO.

7 hours ago, Mannerheim said:

Any other ideas to get rid if this chargeoff from OC?

The problem you have is you defaulted a year ago and the SOL for a written contract in MI is 6 years.  They have five more years to sue you for the deficiency balance.  If you start tangling with this now you run a very high risk of them simply suing you for that $14k.  That CO is the least of your problems right now.  Lawsuit is a bigger issue.

7 hours ago, Mannerheim said:

GM pulls Transunion.

GM may pull TU to start but all the major auto dealers pull all 3 bureaus to see if you qualify for manufacturer financing.  Even if GM did only pull TU the credit issue(s) you have means that you won't qualify for manufacturer financing and they will have to "shotgun" out your app to multiple other lenders to see if one will bite and they will pull all 3 because they know if they get the app it is because there are credit issues and GM wouldn't touch you.

Your best bet is to sock away a grand or two and buy a beater car until you can't be sued for this then get it removed.

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