TOP 3 Proven Strategies to Remove a Car Repossession From a Credit Report!

Having issues with your auto loan and losing a car is a difficult experience indeed.

What's worse is, this doesn't just leave you without a car. It also negatively impacts your credit for years to come, which makes it even harder to qualify for another car, or a loan or credit card, or a mortgage.

Lenders may be able to start the repossession process after just the very first missed payment, and if you've ever tried to help a client that had a repo on their credit report, you probably found out that getting repos is quite challenging (compared to almost any other type of item on a credit report) because of the little nuances that lie within the contract of the auto loans.

But the good news is, you are not powerless. You are a Credit Hero. You have options.

There are three expert tactics that can really help you to permanently remove repos, and I will break them down for you in this episode.

So stick around!

Key Takeaways for This Week:

00:00 Was your client’s car repossessed by the lender?
00:54 What exactly is a repossession?
03:01 Factual dispute tactic
07:22 Credit sales discrepancy
10:14 “How the heck was I late paying after you took the car” strategy
12:34 Targeting other types of repos

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#DanielRosen #CreditRepair #CreditRepairCloud

[bqzljod]

Thanks to you, I found out gap paid out the remaining of the vehicle and I’m getting reimbursed for the 2, 699 that I paid during collections.

[olinciawhite]

Thank you! I bought my car from the dealer, I have gap and my note is $1686/month. I was approved based on a temp job (I’m a nurse who made crazy money during Covid but those days are long gone) I can no longer afford it so I will do option 1

[josephcelestine]

Just so some of you can understand, this is a refund of the claim, which is no longer needed because your car was repossessed. Basically, stopping your insurance and getting the difference you paid. Therefore, the lender gets back that difference, or so the refund. This is not the same as a claim on your gap insurance for an accident or theft ending int total loss, whereas the insurance pays off your car. This is still helpful as it will show a discrepancy in the amounts, thus allowing you to remove inaccuracy from your credit report.

[musicianlife]

I called to dispute mine with the second option regarding the installment loan vs credit sale. The guy didn’t want to process my request saying that it was not a valid reason to remove from report. He could only request to change the information, not remove it. I got him to finally acknowledge that he would request it to be removed after being a little more stern with my approach. I hope the customer rep doesn’t try to sabotage my dispute.

[cosmiclotus]

What if you don’t have the gap insurance? Then how can we remove it ?

[tisha]

This was the best explanation I've ever witnessed. You're detailed instructions were immaculate! I will be using one of the options once I receive my credit report and decide which strategy is suitable for me! God bless. I pray your business grows beyond your imagination!!

[SteleshaTv]

Yo this information is so true. I have a repo 4 years ago and they continue to report it as a late payment while still adding interest. Going to try these methods

[CoachFats]

HOLY SH!T!!! I was still being charged interest on my repo that I just noticed is listed as “other loan”

[joyherring]

Genius. Not me but you! I am not because I co-signed for my daughter…. You are for explaining the gap payment!!!! Thank you!!!!

[BruceDavis]

Gap coverage not available plus I do not have that same insurance company anymore. Vehicle got take 7 yrs ago, still on credit report

[keithb]

Wow 🤩. I’m impressed at your knowledge. I wish I was taught this in high-school. I would have never been in the situation I’m in now. I I have a question to ask. I have a repo that’s says Closed and it still shows a balance, and it has derogatory on all three bureaus. Could I still use the third option? And does derogatory still means late payments?

[romelloskuggs]

My car got repossessed they sold it for more gave me the difference

[eashb]

Can a repo report false payments to keep my account current. I had a repo 6 years ago and two months ago they reported I missed two payments? I haven’t spoken to them in over 6 years

[christinamoon]

Id live to pay someone to get this repo off my report. Its giving me a headache. I cant figure out which catagory im in. I know the car was resold.

[mberrynunez]

Thanks for the info! I currently have a client with a repo on his credit report and another referral may become a client sometime soon. I've heard that repo companies are quick to sue, so I'll move forward with caution.

[jakecallinsky]

The only thing hurting me is the repossession even tho it was a volunteer repo… I’m at a 590 however I was still able to get a car loan with a substantial down payment. Like 17k on a 24k car…. I’ma try this I had gap insurance. Thanks for the information.

[sylendadixon]

How do you remove a repo that was not taken because I paid the late payment the next day and the car was given back to me but the company still reported it as a repo on my credit report and it is now stopping me from being qualified fir a house and this happened 5 years ago and I just found out this was on my credit report last year when I tried to prequalify for a house. I have called the company and asked for a deletion letter or to remove the inaccurate information and they refused to do so. What can I do now?

[josephcelestine]

What the disgusting bureaus are doing now is that every time you report a discrepancy, they just change it to accommodate what you reported what a discrepancy, instead of removing it from your credit. So, how do you get past this?

[wesleyrenguso]

What if the debt was charged off with the original creditor, Is there a less likely the balance was reported incorrect?

[CarlyzClozet]

This was an excellent video....I will search for my loan documents, and follow your steps to the "T". Thank you 🙏🏽