How did I get my repo removed?
I disputed a repo that happened 3 years ago. (I knew I was wrong and I did owe Toyota money) Anyway, it was removed from my Experian credit report!! My question is how and why did they do this and how can I get it removed form Equifax and Transunion? (after the repo was removed my Experian score is 70 points higher than Equifax and Transunion)
Public Comments
- when you dispute an entry on your report the company contacts the company that made the entry and asks for information to support the entry. if they don't respond within 30 days, the entry is removed. fact is, once the company has their debt settled (repoed the car in this case) they really no longer care and some won't bother to take the time to respond. You'll get the other two reporting companies to remove it the same way
- Each credit reporting agency should have a method of dispute. I recently disputed something on my Transunion report, it is a very easy process on their website. Just follow the prompts, and then choose one of their suggestions for why the item shouldn't be on the report. They will research with the company, and then make their decisions in about 2-4wks. I am not sure about Equifax, but it is probably similar.
- This MAY work. Follow the steps EXACTLY. 1. - Go to http://www.annualcreditreport.com and get a copy of your credit report from Exuifax and Trans Union - They're free 2. - Fill out the online dispute form regarding the repo. Don't go into a long story. Simply write "Inacurate Information. Please Remove" Does this always work? No, but it works more times than not. If you want to double your chances of it working, wait until late November or early January. These are historicly the busiest times for the credit companies. What some more info on how your credit works? Visit http://www.myfico.com Good Luck!
- I think the most probable explanation is that Toyota Credit failed to respond to the notice from Experian that you had disputed the report. The Fair Credit Reporting Act gives every consumer the right to dispute the report by notifying the credit reporting agency. The agency then must notify the creditor and ask it to confirm that the report is valid. Toyota may have lost that notice in the shuffle and not replied to Experian, which then has the right to delete the report.
- Dispute it like you did with Experian.
