I traded in my 2015 Jeep Grand Cherokee for a 2018 Yukon Denali on 11/24.

I noticed a few weeks later that Chrysler Capital (the lender I used for the Jeep) showed my account was past due. It was past due because I had traded in my vehicle and wasn't going to make the payment.

I called Chrysler Capital and they acknowledged that they saw notes that the vehicle was being paid off and that the dealership I traded it into was sending a check for payoff.

"Alright so nothing will happen with my credit then if I'm past due here, right?!" ... "Nope, nothing to worry about, sir, we'll take care of it"

Fast forward to today and I get an email from a credit bureau -- "potentially negative information has been posted to your credit report"

WHAT THE FUCK!!

I call the half-wits at Chrysler Capital and said ... WHAT THE FUCK IS GOING ON?!?

"Yes, sir, because it took so long for the actual account to be closed / paid off, we auto-informed the bureaus about your account be 2+ payments late. I see that you've done nothing wrong here and I will send this to management to have them clear things up with the bureaus and it will be like nothing ever happened ... call back in two and a half weeks to confirm"

Those sons of bitches had been clear things up!! My credit score is in the 800s and I will raise hell if this ding stays on there.

Question: when they "reverse" this .. will it actually looks like NOTHING ever happened ... at all?

I had the same issue happen this summer when a down-and-out entrepreneur - also known as a thieving criminal - used my identity to purchase a complete package with equipment from Dish Network.

Same ding on my credit report and my score took a hit.

I had to put in a police report locally (even though the criminal was in New York) and submit it to Dish and the credit bureau. My score returned to normal after a month or so.

quote:

I traded in my 2015 Jeep Grand Cherokee for a 2018 Yukon Denali on 11/24.

Saw that happen with a large Audi dealer in NJ. The owner got in way over his head when he built the new dealership and wasn't paying off the notes on tradeins and the costs when he sold a new car off the lot. eventually, it caught up to him and he lost it all.

Down side is many of his customers got screwed. the former leader didn't care that the vehicle was traded in. they wanted their money.

quote:

Question: when they "reverse" this .. will it actually looks like NOTHING ever happened ... at all?

Yes. They'll actually pull the information that was given, and as far as your credit report is concerned it will be as if it was never there to begin with.

That's assuming they actually do what they say they're going to do, and that for the time being you're not subject to anything else that relies on your credit reports.

I’ve got a note to myself to call them back on 1/25 to confirm it’s been removed.

I’ll see my FICO with a credit card statement on 1/21 — bethcya it’s gonna drop!!!

Assholes.

You probably should challenge this on the specific credit bureau(s) websites. They will contact your lender to update the offending info. All should happen in a day or so.

Some things you will be a coon hunt to get to the end and resolution. (and a bit of a read but if you have negative information in a report, it might help)

Had a situation several years back when our company changed medical insurance and a bill that was approved for payment was not submitted before the change occurred, so when it was presented, it was declined payment by the first insurance company.

Provider (it was a lab) never tried to contact us, and that provider was squired by another firm, and a few years past when they discovered old unpaid invoices, they promptly turned them over to collections.

It was after the divorce and I was going through the mortgage process and then I started getting calls from a debt collector, and finally got them to send me copies of what they were collecting.


This was not showing on my reports with any of the three credit reporting companies at the time I started the mortgage loan process, and I had pulled my credit reports twice, annually and a one time paid request for the final dissolution and property settlement per my attorneys request to make sure all financial issues were addressed in the MSA. But, it showed up after the calls started and the underwriter contacted the mortgage company to inform them, and the loan department contacted me and said it had to be cleared up, as I disclosed no credit collections or outstanding debts existed.

It was a problem that the loan underwriter wanted cleared up before proceeding and I asked if I paid it and had proof of payment would that be enough, and they said, "No, it needs to be removed, since it was not there when we started, it looks worse than if it had been there for a while."

When I called the "new" firm, they had no knowledge of the debt, nothing with our name tied to it, so I thought maybe it was some collection scam and called the collector back.

They were able to provide me with the original lab, so I tried to contact them and found several dead ends, no longer working phone numbers, addresses that had new tenants and they had no clues as to who were there before them.

In all of this, I did find the original Doctor that ordered the lab work, and since they were not involved in the billing, (the lab was), I got nowhere with that.

Back to the current firm and got a lady on the phone as asked her if I could explain the dilemma and see if she would "go above and beyond", and she did.

She finally contacted someone that had worked during the transition that could provide the original billing, and I submitted it to the first insurance company to see if they would honor payment, since it was approved prior to the changing of insurance, but not invoiced until after. They stated that they would not(no surprise, but I had to try).

So, I was able to determine the debt was valid, and agreed to pay it myself to clear the credit, but that the Debt Collector would provide that agreement to me in writing before I would pay it.

That took about two weeks of phone calls to the agent, and finally to his manager, and I received the email that they would ensure the information was requested removed from the credit reports.

I made the payment, and then it took several calls before I could get the manager again, as nothing had been cleared after about a month, and I did not get the receipt or email stating the the debt was paid as I was told would happen while I was on the phone with the agent. (I asked that the collector stay on the phone until I received the email, but was told it had to go through their process to AR and clear, and that AR would send the confirmation...)

The manager told me he would see what he could do and put me on hold.

About 1/2 hour later (of listening to the 3 minute crappy music loop he got back on the line) and emailed me the payment and a copy of the request to the three agencies)

I submitted these documents to the loan department and then contacted the three reporting agencies two days later and asked how I could be certain they were cleared by the debt collector, Experian was already cleared. It took about a week for TRW and Equifax.

So, in the end, my credit score was around 711, and I got the loan, closed and less than three years later, (doing things to help push up the score) my credit score was 847 when I checked a few months ago.


Sometimes these things are easy and sometimes they are not.

We all know people that push off tasks, do half assed work, and take the path of least resistance.
Couple that with companies that provide services, and the focus being numbers driven, and your just that number.

You cannot rely on others to do all that needs be done. No-one cares about "your shit" more than you.

(and I'll beat a dead horse into a bloody muddy mess, then beat it dry.)