Credit still being hit by car repossession

Credit

I did an involuntary car repossession in 2020 in BC. The bailiff came and took the car and I did not sign anything. However, Hyundai still shows me as having missed payments monthly and says I have a balance of 24,000 remaining even though they sold the car after repossession. Equifax shows zero remaining but also shows delinquent on missed payments monthly. Transunion shows 24,000 owing with monthly missed payments.

When I reached out to Hyundai this was their response: “Please be advised the vehicle was sold after repossession. The loan was not satisfied. After the sale proceeds were applied the remaining balance left on the loan is $24,380.95 This cannot be removed from your credit file until the statute of limitation has been met. Usually around 7 years from the date last reported when charged off. We would recommend you to contact Trans Union for this information.”

I know that, because the car was sold, Hyundai cannot come after me for the remaining $24,000. But is there any recourse to my credit being hurt monthly with delinquent payments showing? I've tried filing complaints with Equifax and Transunion but both say there is nothing they can do. Do you have any advice??? I'm at a loss on what to do! Much appreciated!

Posted Aug 15, 2024, 7:42 AM UTC

123
Loading comments…