Vehicle included in CP, showing as bad debt

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Vehicle included in CP, showing as bad debt
« on: August 04, 2017, 08:27:42 AM »
Question for the group -
when I signed my CP, I included a vehicle which I returned. The book value of the vehicle was around 32K at the time and I owed about 51K on it.
Both equifax and TU show the truck as "bad credit/write off" rather than "included in consumer proposal". I spoke with my trustee yesterday who confirmed that the truck was part of the proposal. Also, I had other debt with the same creditor so they cannot play dumb and say they never received the proposal. There was never a claim made from them for the truck to date.

I am under the impression the current state of that loan is an R9 since it's not included in the CP (which is now completed). Any advice on what I should do? The creditor is scotia bank, should I call the bank? or call TU/Equifax?




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Re: Vehicle included in CP, showing as bad debt
« Reply #1 on: August 04, 2017, 06:40:15 PM »
I had a few things like that in my file at Equifax and Transunion.

One credit card and LOC said bad credit/write off...
Another credit card said closed at my request
We had a car loan we kept but Transunion had it as being part of the proposal

You can  phone Transunion to get things corrected but make sure you have all your information about yourself handy as they ask you
to verify you identity.  The 1st time I called they asked what the original loan amount on the car was.  I didn't have it handy so had to find it and call again.  They
also do not speak English that least the times I have called.

With Equifax you need to download the forms off their site and mail them away.

It is a lot of hassle but worth it.

After getting my Equifax corrected my score went from 560 to it is 649 a month later.

I believe you can also call Scotia and get them to send the correct information to both companies.



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« Reply #2 on: August 07, 2017, 05:54:29 AM »
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