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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Consumer Protection Law
Satisfied Customers: 16721
Experience:  Experienced Licensed Attorney
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Can a buy here pay here car dealer put repossesion on your

Customer Question

Can a buy here pay here car dealer put repossesion on your credit when you gave them the car back three years ago only to see they put repossession on your credit recently how do I deal with that if I can.
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Alex J. Esq. replied 2 years ago.

Hello. My name is***** will be happy to answer your question.
I am sorry to hear about this unfortunate situation.

Unfortunately, returning the car to the dealer is legally considered "voluntary repossession" and it can be reported and stay on the person's credit report for up to 7 years from the time of the repossession.

The only option generally, would be to attempt to negotiate a resolution with the dealer, where it might be possible to compensate dealer for set amount of damages related to the repossession, in exchange for the dealer removing the repossession report and reporting loan account as paid.

I am very sorry to provide you with this bad news, but please understand that I do have professional obligation to provide customers with correct answers, even when answer is not favorable to the customer.

I wish you the best of luck and God bless you!