CNAC is reporting a loss amount of $4518.00 on my credit report for a car they repo'd in October. I contacted them today because I wanted to pay the full amount showing on my credit report so that I could once and for all put this behind me. The rude man that called me back asked me all types of questions as to why I was finally going to pay off a debt that I owed. I explained that I was finally back on my feet and wanted to clean up obligations that I realized I owed and wanted to set things straight.
Before the questions, he actually stated things to me that I didn't know about my past due account/repo'd vehicle. He told me that my car had been sold at an auction. When I proceeded to ask him the address to mail the cashiers check to he gave me the address. When I asked him the amount, he told me it was over 1000 days late and he told me the amount due was $7896.00. When I asked him if they would settle for the amount they are reporting on my credit report he said NO, so I told him thanks and have a nice day.
Can they legally charge me the balance owed on the account after they have sold the vehicle? Will contacting an attorney help me to negotiate the price down? That is what I am planning on doing. Does anyone have any similiar type experience with CNAC and does anyone have any good news to report on Lexington Law firm? They specialize in credit repair. I just want to get this issue resolved and it doesn't sound to me like CNAC is willing to be at all cooperative.
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