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KJL LAW, Lawyer
Category: Legal
Satisfied Customers: 1367
Experience:  Attorney at law Office of KJLLAW
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My name is Mr. Clare Kruger. I helped my son buy a car

Customer Question

Hi Pearl. My name is***** I helped my son buy a car for his security co, a few years ago. I am sole owner of the finance contract. My son and his co, have been making the payments. I received a call from the finance co. today saying I was 62 days delinquent in payments. After the first 30 days, a negative report was sent to a credit bureau. I contacted my son, who in turn showed me his automatic withdrawal from the business account. The last withdrawal was on 5/23/2016. What are my options?
JA: The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: No. I was notified at 5:55 PM this evening about the situation. The Finance co. closed at 9:00 PM Eastern, 6:00 pm local time.
JA: Please tell me everything you can about this issue so the Lawyer can help you best. Is there anything else important you think the Lawyer should know?
Customer: My son has changed business addresses since the purchase. He filled out the change of address on the back of the statement, and sent it in. After a while, and not receiving statements, he called the co. and gave them the change of address. Still not receiving statements. He says, this was a couple of years ago. My concern is in the last 62 days. I have the supposed balance owed, and the amount supposed amount to bring the account current, which my son says is wrong. Obviously my concern is the damage done to my credit rating.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Legal
Expert:  KJL LAW replied 1 year ago.
Good morning. Under the Fair Credit Act if you show the finance company proof of the automatic withdrawals for payment in the account, then they must verify that it was paid and then remove the negative entry from your credit report. That usually takes 30 days to correct the entry. You could also mail the proof of the payments, debits, directly to the credit bureaus with a letter and notation on the entry stating thst no amount is pass dye and the account is up to date. They in turn should investigate and contact you back within 30 days and remove the negative entry. I hope this helps.
Expert:  KJL LAW replied 1 year ago.
After it is removed, your credit rating will return back to the last highest score and all negative information will be removed from your reports.
Expert:  KJL LAW replied 1 year ago.

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