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I’m looking for some straightforward information about how to properly repair my credit [and remove a flag from my report] that was damaged by a crooked car dealership.
I bought a car, with a trade-in, in November 2010. It took the dealership 45 days to get me financed’ which is absolutely ridiculous because I have never had a credit score below 700 and I have always been instantly financed. In a nutshell, over that 45 days my trade-in was not paid off so I “missed a payment”, due to the idiots at the dealership. Is there any way for me to prove this company dishonest and get this flag removed from my report that has severely damaged my score?
A little more background on the seemingly routine deal: I’m currently military living in a primarily military town and have heard of many soldiers being screwed by this company before. A couple days after i took the new car home I was called to come back in for some paperwork that they had missed. Every week thereafter there seemed to be something else the dealership missed and kept calling me back for [i refused to pay more than originally discussed and never renegotiated terms]. anyways, after a couple weeks of not being financed i started to get really upset, to which they replied they just needed a couple more days. After I told them I wanted my car back [threatening JAG involvement] i was magically financed.
Anyone have information that can help me get my credit score back to how it was before this “deal”?
I have already tried to dispute it with the credit agencies with no progress because I wasn’t really able to explain the whole situation. They just saw the dispute as me saying “oh yes, i did pay you”, when of course their records say I didn’t.

4 Thoughts on How can I repair my credit and remove flags from my report?
  1. Reply
    magdarra
    July 20, 2011 at 11:31 pm

    You have to get the person reporting the data to fix it and good luck. I have proven to the three credit bureaus that I never went into collections on a Verizon account from 2003 and that AFNI is falsely reporting the data – however they refuse to correct it. I was able to get it removed temporarily via a credit rescoring when getting a mortgage but in the process of using a different lender it got back on. It should be off my report due to length of time, but AFNI keeps reporting the initial date differently, keeping it on my report.

    In the meantime, I’ve disputed this set of accounts (one telephone number) over 60 times, with no luck. This is in spite of AFNI having class action suits against them for making up credit reports.

    My experience has been that credit reports are a crock of s**t and should not be believed.

  2. Reply
    timothy p
    July 21, 2011 at 12:22 am

    credit bureaus require minimal validation from the people reporting the debt. Disputing with them is usually a waste of time.

    As unfair as it is, the entry on your report is technically correct. The deal you struck with the car dealership doesn’t relieve you of your responsibility to the people you owed for your old car. If you look at the contract you signed when you purchased the car, they likely have a clause stating that the contract is contingent of financing approval.

    One thing you could try… You could contact the bank that is reporting the late payment and explain your situation politely. Ask them to remove the negative mark since it doesn’t accurately reflect your payment history. Keep working your way up the chain at the bank. Write the CEO if necessary. Hopefully they will remove the negative since it sounds like an honest mistake.

    Always follow up on trade ins when you are counting on a dealership to pay off your trade. They may be less than honest. The only damage done was to YOUR credit. The dealership can care less that they screwed you. They got their sale.

  3. Reply
    SPIFIMAN1
    July 21, 2011 at 12:51 am

    Auto finance is what I do for a living and as much as I hate to say this, there really is not a whole lot you can do.

    You were legally responsible for making sure your payment was made not the dealership even though you traded in your vehicle.

    As far as them taking 45-days to get you financed, I can’t really speak to that without a lot more information. Sounds like you were dealing with a dealer that did not have a very good finance department to me.

    What they did is called a spot delivery, this means they went ahead and put you in the vehicle without already having secured your financing. While not very smart, it’s also not illegal. It did what it was designed to do which is to take you out of the market and keep you from going to another dealer.

    As far as the missed payment is concerned since it’s actually true and correct information the only people that can remove that is your previous lender. If you have explained to them what happened and gotten nowhere, then your out of luck.

    Was what they did wrong? Yes, was it illegal? No.

    Sorry, but that’s just the way it is.

  4. Reply
    Use Your Noodle
    July 21, 2011 at 1:12 am

    Sorry, but the only ones who can remove the negative mark are the lenders from your other car loan.

    This is why it is imperative when buying a car from a dealer to walk in with your own financing in place FIRST before dealing with them. This is the oldest trick in the book…to let you drive away and then keep calling back having you sign more papers etc… All the while, they are changing the terms, or adding things in there that you may not even be aware of unless you READ what you are signing. As for your car not being paid off, you would do better to sell the car yourself next time private party before buying another.

    In the eyes of your old lender, you *were* late. It was your responsibility to keep an eye on whether the account was paid off. That is why it won’t be removed.

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