Divorce Bad Credit Questions
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| Thu, 03-31-2005 - 10:15am |
Hello, I posted here alot last until till I came up prego and the snowflakes went out the window. Since then hubby became abusive and I had to leave, had a beautiful baby boy and am trying to rebuild and start over.
Questions:
My ex husband let our truck and one motorcycle go back to the creditor. He took the tags off the truck at the dealership and it was considered abandoned. We have a no contact order so I didn't know until after it was repo'd. The bike he took when he left the state made no payments and would not give up. I could not pay on it as I had to finish getting things for the baby so it was tracked down and repo'd. I have paid off the balance due after selling both items, but what can I do to get my credit back up. All any lender sees is a repo and the fact I paid it off and can prove it has no bearing.
Any ideas?

This is the time to include a letter with your credit report, explaining the situation and that it was a result of a divorce. Some lenders may take that into consideration and if they get the information along with your credit report it saves the time of them rejecting you, then you trying to explain, etc.
There is also a Divorce and Money board, you might want to ask there too:
http://messageboards.ivillage.com/n/mb/listsf.asp?webtag=iv-mldivorce&nav=start
You can write a statement, I believe up to 100 words for each item that is on your report so that when creditors pull your report, they can see your side of the story.
All my best,
Danni