Credit/Loan Experts please back..? I have a auto reposession on my credit report as a

I have a auto reposession on my credit report as a result of a bad divorce. The loan be joint. He was court ordered responible but never compensated and the creditors don't care about court instructions. Therefore, I have tried to negotiate to get this rotten my credit but the best they will do is a little less than partly of the balance. The will accept that and catalogue it as paid and settled in suitable standing but will not remove the late payments or the word "repossession". Is it worth it to pay this lower than these circumstances. I am trying to get a mortgage and need to know if this will support or will I be paying this debt for nothing when I could wait 3 more years and own it off my credit.

you involve to know that "every" time you check your credit it's noted on your credit report.AND, "every" time you check something specific they update the date they last checked it and then the 7 years starts adjectives over on that notation.

So your vehicle might have the initial date of 7 years ago but if you asked again about it, read aloud last month, then the 7 years starts adjectives over again.it's a pain the credit card people motive us.

You can send a copy of the "court order" for your husband to pay past its sell-by date the vehicle, and ask the credit card people to update their records to indicate that you don't owe the set off. See what they do. They won't take it off the report, but they will kind the notation.and, if the mortgage people are reading the report correctly (not all mortgage relations or car loan companies know how to read a credit report) then they will put it to the support of their mind.

It's not 3 more years on your credit, sounds like it will be another 7 since you just lately checked, so let's just hope the mortgage people know how to read a credit report.

You might hold better luck disputing what's on your credit report about this by enlisting the support of an agency that specializes in credit repair. Here's one that I've heard obedient things about - http://necessaryvirtues.com/recommends/l...

Here's an excerpt from their web site: "Disputing items on your credit report should be an trouble-free process, but the credit bureaus have spent years refining tactics intended to frustrate and confuse consumers, causing frequent to give up before they ever see results."

Good luck!

Answer:
First off - it does not hurt when you check your own report, nor does checking your own report update any info on it.

Now for the repo - A repo falls below the UCC (9) codes for statute of limitations for collecting. Which means a repo is no longer legally collectable after 4 years from the mart of the vehicle.

If YOU never received all of the required notices, contained by a legal and timely manner, previously and after the repo, it would then be considered an illegal repo and the defect would be considered non collectable (and non reportable). It would not matter if they sent the notices to your ex., they would own had to sent the notices to you also, if you are to be held responsible for the not as much as.

The notices would be the intent to repo, the intent to sell and right to redeem and the negative amount notice after the sale.

You might look at the first contact I've provided, read the page fully. If what I've listed fits your situation, past the 4 year fault, longer than 2 years since the sale or you did not receive the proper notices etc., you might give attention to about using the info on that page.
(there is also a very upright letter to use to dispute with the bureaus)

If you enjoy any problems understanding that page, go to the second connect I've provided and ask your question in the credit forum.

Usually mortgage lenders want to see the divorce decree that states he is liable. If it is not mentioned within the decree than it will take a great deal to get it off of your credit report. Irregardless, liquidation, foreclosures and repossesions are going to stay on your report for a few years HOWEVER, you can write an explaination that will be printed on your report next to the creditor. To do this, you must contact the 3 credit reporting agencies, Transunion, Experian & Transamerica...if I remember correctly. A mortgage lender may want it paid surrounded by full so you might have to bite the bullet to get the house.

Visit www.clarkhoward.com look surrounded by their forums, they are experts at this type of problem.

Read this

http://deal-save-online.com/info/debt-co...

consent to me suggest credit clearance, it is better to have your bad inquiries removed. i lately got my credit cleaned by this company. Contact the person i worked near he might help you out.
Mike:(408)821-6410
email; m.asrat(a)yahoo.com