Legal Question in Credit and Debt Law in Massachusetts
car lease default
My wife co-signed a car lease with for an old boyfriend 7 years ago who defaulted. The car was Repo'd in 2003. We would like to get a loan for a house and this is a black mark on an other wise very good credit history. How do we get it removed?
2 Answers from Attorneys
Re: car lease default
Check on line and with the attorney general's consumer protection site, along with the FTC fair debt reporting site to determine how long this item can legally remain in a credit reporting agency public file. The Federal Trade Commission site will also advise you on proper removal or dispute of negative entries. Good Luck!
Re: car lease default
A consumer has certain rights under the Fair Credit Reporting Act (15 U.S.C. 1681 et. seq.). Among those is the right to have negative information which is more than 7 years old deleted from the consumer's credit report.:)
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