Remove Repossession from Credit Report || Credit Repair || Dispute Repos and Fix Your Credit

– Hey what's up YouTube fam, Brandon Weaver here once again, and we're talking today about how do you remove a repo from your credit report (dynamic music) Alright, not the most enjoyable getting your car repossessed, however, there's a very specific time-table and documentation that must happen during the repossession process, and we're about to go over that

Prior to this, make sure that the repossession happened off private property I remember I was a valet, at a nice restaurant and next door was a very nice apartment complex, however, probably once a month there was somebody who was getting their car repossessed It happens, many people go through tough times, everyone goes through some type of ailment, ups and downs in their life I've gone through it, you've gone through it So it's no fault

I always tell people what you're going through is not unusual, it's not uncommon, it's not your fault, okay We're here to help you out, and repossessions happen So, if a repossession happens on private property, that's grounds for you to take legal action, man You can find a lawyer, you can find an attorney about that stuff, but that's something else We're gonna focus on the credit repair side

So, the repossession happens offsite, what is it that you are supposed to get within five days? You are supposed to get a certified letter with a return receipt, something you sign and then send back saying that you got this reinstatement or ability basically to buy back the car They'll tell you how much it costs, the fees, and stuff they tack on, the arrears you need to pay on the late payments, that payment plan Or, you can buy the car outright Perhaps you've had a windfall of some money, and you can purchase the vehicle now A lot of times that's not the process, you know, you went through a repossession so, maybe you can't buy back the car

So, you then, will get a letter, sometimes it comes together, sometimes it's a little bit later But you'll get a notice of sale And what they're going to do, is they're going to put it up for auction It's going to be a private auction, or public auction, but you are allowed to attend, it is your right And so, if you do not get that letter, again, it's a violation of your rights and you can take legal action

All of these notices are very important for the credit repair process, as we'll get to So, you attend, you can purchase the vehicle, if not someone purchased the vehicle And a lot of the times, the car is sold for less of the value, they're just trying to get some of the money out of the vehicle So you get a deficiency notice, along with the other accounting practices they keep It's usually within 10 days of the sale, it's a notice, post-notice of sale, with deficiency, and this notice will tell you, basically the attorney fees, and the repossession fees, and the storage fees and all the stuff they tack on and all this nonsense so to speak, the deficiency in which, it's left-over

So they sell it for less the value, the left-overs, it's what you need to pay, and so they say, this is what you have to pay In some rare occurrences, if the car is sold for more than what it's worth, which is very odd, you are co-owner of the vehicle still, and you will get some of that money back However, most of the time, there's a deficiency, and it goes to a collector, okay The original creditor, the people that hold the note, the bank, they don't have time for this, okay They're going to sell it, pennies on the dollar to some collector, and the collector, is not necessarily going to have these notices

That's what's interesting They may not have a signed contract from the original creditor, yeah They might not have the notice of reinstatement, for you to, you know, buy back the vehicle They might not have the notice of sale They might not have the notice of deficiency

They might not have these notices, and that is where you send the letter, you've got the letters You send the letters to the collector and you ask, very specifically, I wanna see these, proof of these notices, if you've don't within 30 days, you need to stop reporting to the credit bureaus Then, at the same time, you send that letter, you send a letter to the credit bureaus And you say, hey, same deal I want some validation

Do they have these notices? Do they have signed contract? Where's the proof? You ask these things at the same time They have to do an internal investigation at the creditors, the collectors have to do an internal investigation, at the same time the bureaus will contact them and they have to do another investigation making it even harder, and they've gotta come up with these documents Guys the law is on your side, you see how powerful you are, and you see what you can do with this repossessions 609CreditRepaircom, or we can do it for you

If this helped you out, please like, alright Subscribe, I really enjoy all the subscribers here All the comments and love and likes, and shares and subscription, I mean it's just fantastic guys, I'm having a great time on this channel, doing these videos for you is the highlight, it's fantastic So, thank you so much If you need anything shoot me an email and I will see you on the other side

(dynamic music)

Source: Youtube

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