Legal Question in Credit and Debt Law in Illinois
I had a repo on 2011 and I was told the car was sold. The repo was taken off my Equinox and Experian because the car was sold. However, Transunion still lists it as an open car loan. So it shows an open car loan every month like newly repo. How can I remove this from my credit report. I'm a 643 credit score but still can't get decent car loan.
1 Answer from Attorneys
Negative items that are correct, can appear on your credit report for 7 years. Despite the fact that the car was sold, it was still a repossession--which is a negative item. It appears that the repossession is what is showing on the Transunion report. If the information is incorrect, then you can contact Transunion and inform them it is incorrect and ask them to remove the incorrect information.
You need to be aware that if the car was sold for less than what you owed to your lender, your lender can sue you for the difference. If you have any other questions, I can be reached at 312-372-5600.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
