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In Texas Can The Creditor Or Lessor Report A Vehicle As Stolen For Late Payment?
What happened is that I got behind on payments. I had talked with them and everything was fine. Made partial payment for 2 months. Then car had major mechanical problems. I had called and talked with them telling them of what was going on and why I was late, due to having to repair the car just to keep it running at a cost of about $450 total. Then about a 2 weeks later someone showed up to repo the car as I was leaving my house. I just ignored them and left. They were threating to report it stolen.
asked 1 year ago
No they can not report it stolen. They will report as a repo/collection on your credit. They will send you a judgement for the balance due and charge accordingly. What the repo man does is get paid for bringing in cars. They are the ones actually stealing the cars. They sale your car at an auction and whatever money is owed on the balance you are responsible for. Check out this link if you want to build your credit after this repo. Here to help thank me later.
http://www.ehow.com/how_2198743_refurbish-credit-image.html
comment made by Willi493 7 months ago
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