Ally Financial FALSE charge off on credit report arizona

They are too big to fight alone. Please join us in the fight to stop the Bully known as Ally Financial at chn.ge/1iz3BwV.

 I have read thousands of comments, large majority in a simalar kind of situation with Ally.  I suggest you file a complaint with the Consumer Financial Protection Bureau.

http://www.consumerfinance.gov/

I create a fb page to reach out toother unhappy ally auto customers. : https://www.facebook.com/pages/Ally-Autos-Unhappy-Customers/367933486670751

Check out some of the links to articles I posted on the fb page. its amazing.

 There are a few things you have to understand about a BK and these are things that your BK Attorney probably should have told you or made a bit clearer.

First of all putting the car in the BK was not a your attornies "blessing" it was as a requirement of the BK proceedings.  Had you left it off and the Trustee found out, not only could you have had your entire BK dismissed but could have been subject to additional penalties.  Now, not to say that once in the BK it couldn't have been taken out by doing a "reaffirmation agreement"..but it still had to be originally included.  

Next, most likely what your attorney should have done is give you more details as to the possible ramifcations of a BK on the co-signed loan.  One possibility he should have suggested was for your son to attempt to refinance the vehicle in his name only before you filed.

The problem is that the $1200 "charge off" is valid and it looks like your son got the benefits of a lower payment due to your BK.  Well he can't have it both ways.  But even if that is not the case because your son is a co-signer it affects both creditors the same, well not quite the same.  Since you declared BK you are not responsible for this "Charge-Off" amount, but there is a very good chance your son is still legally responsible for it and they may take legal action against him to recover it.  So it is not going to just "go away" from your son's credit.  But if it is an open amount and he wants to pay it, he can.  One thing he can try is an offer IN WRITTING that if he pays it they will remove it from the credit report.  It may not work..but perhaps worth a try. 

As for one caviat...every case is different as only you know your specifics.  But if you have any doubts this is something you need to bring up with your BK attorney.  If they still say you have a case against Ally..let them bring a suit against them under Fair Credit Reporting Act violations.