How to Remove Reposession from Credit Report

A repossession record is among negative information that can be reflected in a credit report maintained by Equifax, Experian or TransUnion. The federal Fair Credit Reporting Act (FCRA) requires consumer reporting agencies and the company that reported the repossession to correct information that is inaccurate or otherwise in error.

Instructions

Repossession & Your Credit Report

1

Ascertain if the repossession record on your credit report can be legally removed. Credit.com notes that vehicle and property repossession records stay on your report for seven years, after which they should drop off. An erroneous repossession record may show up on your credit report if you were the victim of identity theft, in which a con artist acquired your personal information to purchase property or a vehicle that was repossessed.

2

If the repossession record has expired or suggests that you've been the victim of identity theft, contact the consumer reporting agency or agencies in writing to dispute the record, advises the Federal Trade Commission. Your letter should contain your name and contact information and why you believe the repossession record is in error. The FTC urges you to provide copies of supporting documentation if you have them. Send the correspondence by certified mail, return receipt requested, to ensure that your dispute is received. Contact information for the three consumer reporting agencies is:

Equifax
http://www.equifax.com
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111

Experian
http://www.experian.com
P.O. Box 2104
Allen, TX 75013-0949
(888) 397-3742

TransUnion
http://www.transunion.com
P.O. Box 1000
Chester, PA 19022
(800) 916-8800

3

Give the consumer reporting agency at least 30 days to look into your dispute and get back with you in writing. If the repossession record has expired or is otherwise in error, it will be removed from your report. The consumer reporting agency must send you a copy of your revised credit report if the repossession is removed.

4

If you're unhappy with the resolution of the consumer reporting agency's findings, you are permitted by law to send the agency a brief statement (100 words or less) clarifying your case. This will be maintained in your credit files.