I financed a car, and after 2 years decided to trade-it-in on the same delearship for a new one.
They are supposed to pay-off my old car debt to the bank because I got a new one and they are adding the balance I owe to the new debt. The delearship is VW, and the financing co. is VW Credit...
The thing here is that they paid-off the old car after 1 month I got my new one and I checked my credit report and I have 1 negative account because that payment was past due for more than 30 days..
Can I sue them???
2007-03-10 19:31:59 · 8 answers · asked by Manuel G 2 in Business & Finance ➔ Credit
Only if you have the terms in writing (contract), complete with dates and/or time limits, because they would have broken a contractual agreement. If you have that, you may want to consult with a lawyer (some will do an initial consultation for free, depending where you live).
Odds are that since you were dealing with two creditors, you're probably not in the best position to sue. You could try to contact your bank (I'm assuming that's the late payment on your credit report?) and explain the situation and ask for them to "correct" this information. They may say that since you did not notify them that it's still your problem. If this happens, write your the credit bureau(s) in question with a dispute of the late payment. The bank will probably reply that it is a legitimate late charge. In this case, write your rebuttal so that when a creditor looks at your credit report, they have a notice explaining what went wrong. Oftentimes, the person reading the report will make his own judgement from the information and see that you were acting in good faith and weren't just being lazy or whatever.
I hope this helps. It probably isn't worth going to court over, but it IS worth contacting the bank itself and the credit bureau. Good luck!
2007-03-10 22:57:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't think sueing them will get you anything. This might be a case of learning the hard way. These financing contracts always take weeks to get caught up, and you should have probably paid the next month payment if it was close to your due date. They would have refunded you the money once the other loan went through.
However, that is in the past. You could try to dispute it by sending in the dispute with the new finance contract that shows it should be on the other loan as well as the date of sale. As long as the date of sale was not past your due date they may remove it. Even if they don't remove it, if you only have 1 30 day late payment that is almost a non-issue after a few months.
2007-03-10 20:09:03 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
I would try to dispute the negative strike with the credit reporting agency. Provide them with proof of the date that the car was traded to the dealership. Anyone can sue, but it will probably cost more in legal fees that what you will get.
2007-03-10 19:40:39 · answer #3 · answered by Pinky Lee 2 · 0⤊ 0⤋
I would let it go, when you go looking for a home and they check your credit they will see that and you have the chance to explain that. Every time you have your credit checked affects your credit, but also every good payment you have towards it is a plus to it.
My husband bought me a DSLR camera last year over Costco online. I'm sure that pinged his credit since they have to have checked it before the purchase went through.
Let it go, it will cost you more to re-establish your credit than it will to pay off your bills on time. If you pay them regularly, then any credit lender will see this one incident as a non issue.
2007-03-10 19:39:36 · answer #4 · answered by kaliroadrager 5 · 0⤊ 0⤋
Dispute the item with the credit reporting agencies. You will be asked the reasons why you are disputing. They will verify it with VW and it should be removed.
Once it is removed, your score will go back up and yes, you can dispute items in spite of someone telling you it doesn't do any good. I disputed items on my credit report and they were removed.
2007-03-10 23:40:07 · answer #5 · answered by Faye H 6 · 0⤊ 0⤋
you can sue them because it was their responsibility to pay off the loan you had.
disputing it with the credit bureau would not help because nothing would really happen if an individual would file a dispute. they just created that idea just so people would think there is a level playing field in the business
2007-03-10 23:30:41 · answer #6 · answered by globiaeon 3 · 0⤊ 0⤋
Yes you disputed the credit charge on your report have it removed good luck
2007-03-14 07:20:27 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋
sure, you can se anyone for anything.... sounds like you may have a strong case here, most likely they will give in.
2007-03-10 20:10:42 · answer #8 · answered by Kosher1 2 · 0⤊ 0⤋