Legal Question in Credit and Debt Law in Michigan

Car DealerShip Short Paid my Lease Turn In

I turned in my lease early, rolled over as much I could & the difference I pd the dealership. GMAC calls 6 mo later about a collection acct, amt $700.00. GMAC couldn't answer what the balance was ''since it was sent to collections, they didn't have access to the information anymore''. It took 4 months to get a statment from GMAC, showing GMAC repo'd my vehicle, sold it at auction & I'm responible for the balance. GMAC said the dealership short paid my deal, so it was repo'd & sold at auction. The dealerships answer was there just wasn't enough money in the deal to pay the vehicle off. because they pd for work done to my new vehicle & add'l pymts that weren't rolled over. I had the cancelled checks proving I pd these amts, they admitted their ''accounting'' mistake & reimbursed me the money to pay off GMAC. The dealership gave me a letter to give to GMAC. I sent all this into GMAC & the credit bureaus explaining what happened & any negative information to be deleted from my credit bureau. All 3 bureaus shows GMAC write off/charge off $26000-paid, in negative history. How do I get this off my bureau & is there any legal recourse to the dealership who screwed this up? As far as GMAC & the bureaus are concered the info is correct


Asked on 9/20/07, 2:28 pm

1 Answer from Attorneys
Renee Walsh LawRefs Nonprofit

Re: Car DealerShip Short Paid my Lease Turn In

You need to write a letter to each of the major three credit reporting companies and dispute the debt. They will follow up with contacting the creditor and investigating the dispute. If the report comes back that they have confirmed the debt, then you need to write a letter and call the creditor. There are federal laws that would be violated if your credit is not reported accurately.

As an attorney, I have fixed my credit over the years with continued correspondence. You would do well to send a letter from an attorney if you are having difficulty. If you would like me to do this for you, I would be glad to oblige.

Read more
Answered on 9/20/07, 4:53 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Michigan