How To Fix My Credit After A Repossession
“How to fix my credit after a repo” is brought up a lot. Repossessions are common due to consumers being unable to make payments. Some are voluntary repossessions or repos are due to consumers choosing to return a car to the lien holder rather than continue to make the scheduled payments. Recovery, or “how to fix my credit after a repo,” are the same regardless of the type of repo. We at Credit Law Center always say keep the credit repair process simple!
When fixing your credit after a repo or repossession keep in mind that you have several things other than just the normal items you can challenge. Most states have state statutes with requirements that have to be followed. Research your state laws and add these requirements to the normal dispute process. For example, there are several laws on the books such as lemon laws like the KCPA in Kansas. Missouri has the MMPA or Missouri Merchant Practices Act. So do a little research for your state or contact a credit repair attorney to assist you in the repair process. If you choose to use a credit repair attorney to assist you in attempting to fix your report after a repo, make sure that the attorney is not charging you any upfront fees. A good credit repair company or credit repair attorney will not charge you any upfront fees and will only charge if they are successful in correcting or removing the repo or repossession.
So in closing, use the normal dispute process which starts by obtaining a copy of your credit report and verify if the account is dated, coded and is accurately reporting. If the account is incomplete or inaccurate challenge the account in writing and wait for your dispute results. Once you receive your results verify the account is reporting correctly, and if the repossession is still incomplete or incorrectly reporting contact Credit Law Center.