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Should I dispute

Hi so a while ago (over a year) I voluntarily handed a car back to the finance company they have not sent any more info in that time I then got notice of a fine for no tax which I disputed and won several days later I got a letter stating that the collection company had sent the car back to the finance company issue I have is it's still on my credit report stating 0 in default but missed payments since it went back and an outstanding balance can I get thus removed if I dispute it?

Comments

  • Brie
    Brie Posts: 13,438 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    How long has it been since this happened?  If it's very recent it should be updated soon.  But you may need to go back to whoever has added this to your credit history to ask them to remove it altogether.

    You can of course also add a comment to explain what has happened while you wait for something else  to happen.
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  • You need to ensure it is "termination of contract" with the finance company. I requested to hand my car back a few years ago once I had paid 50% of the finance off after advice from a MSE story, but when I rang them they played ignorant about what i was asking until I specifically requested "Termination of Contract"
  • ManyWays
    ManyWays Posts: 719 Forumite
    500 Posts Fourth Anniversary Name Dropper
    I voluntarily handed a car back
    Did you tell the finance company you were Voluntarily Terminating the contract, if so, had you paid a half or more of the credit? That amount is explained in your finance agreement. If you did, then you shouldnt owe anything and your credit record should be corrected to show it. If you did owe money to get you up to that half way point, then that should be recorded and you need to set up a payment arrangement for it. 

    if you didn't VT it, then you may owe the rest of the amount less whatever they sold the car for. In this case you need to ask what is happening. 
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