Repo Questions 2004!

[linsys]

I had a repo in 2003, I checked the carfarx the vehicle and it was sold "at auction in Mountain Region Listed as fleet vehicle" no notification of this auction was ever sent to me by the finance company.

The car is listed from the original creditor one of my credit reports as "Closed Transferred" with no balance.

Another credit report lists it as Derogatory with a $12,000 balance (and this was was only like a $14k loan) and Collection / Charge off

The odd thing is both of these show open in 03 and "reported" in 09 but the repo took place in 2004!

Finally, on my last credit report the origional creditor isn't listed at all but there is a collection company reporting for the $12,000 with an open date of 2003 and a "reported" date of 2010..

I guess my question is when should this drop off my credit report? 7 years? 7.5 years? Its possible the car was repoed in 03 I can't remember exactly since it was so long..

The odd thing is, I've been looking for a car and one of the dealers told me I just had a repo a month ago (but I checked my own credit) and they are referring to the credit agency... is it just that they dealer is dumb and misread it?

I really want to get this entire repo removed, it was an illegal repo which is why they can't sue me for the money but they can keep reporting it and its hurting my chance and getting a home, car, etc...

[chane]

It stays on your credit report for 7 years from the day the loan became delinquent. You can definitely dispute it and try to get it off now. It's old and will probably not be verified.

[linsys]

So does that mean that even collection agencies can't continue to report it after the 7 years?

[chane]

Correct. No on can report it for longer than 7 years. If it hasn't come off on its own, dispute it immediately.