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Hi all! I'm pleased to announce that there are just 42 (how ironic) days left in my lease. Mercedes Benz Financial Services gave me a call today for my options (which as follows):

- Return the car and pay $5,000 in fees.
- Return the car and get a new lease.
- Purchase the car (through the dealer, through MBFS, or through a bank) for $9,000.
- Extend the lease for another 6 months.
- Emergency extend the lease for another 30 days.

Obviously, my plan all along was to purchase the vehicle.

Unfortunately, right after the New Year I pulled all of my credit reports, and bad news...

You all may remember when I was first trying to get a smart, that somehow Transunion managed to merge a family member's credit (bloody awful) with mine (at that time, pretty good). I was able to remove the incorrect information in time for me to get my car.

It happened again in early 2013. Then when I tried to get it removed, they claimed the information was accurate (incorrect Social numbers and all) and retained it.

I don't see how that was possible. They're claiming I filed for bankruptcy at the age of 8!!!!!!!

Unfortunately, during the final duration of my lease, somehow the Credit Bureaus did it again...but this time, not only have ALL 3 Bureaus did it, but they FULLY merged my family member's identity with my own. The only piece of good credit I have, is my car payment. Other than that, it's a wasteland of collections and bankruptcies.

So, I've started an emergency rush to get it all removed, but I fear it'll be a repeat of 2013 and they'll just keep the BS on my credit.

It's already hindered me from enrolling into college this semestre, as financial institutions are claiming I make too much money to get a grant (thinking I have a job at the VA) and my credit is too bad to repay.

I'm in the process of filing a complaint with the Illinois Attorney General (their office agrees that it isn't fraud, but a gross error on part of all three Bureaus) as well as disputing all three reports.

If anyone here has any advice to offer, it would be greatly appreciated. :)
 

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Holy Schnikeys! It seems like only yesterday you took delivery of that car. I wish I had something constructive to offer, but it seems as though you're doing all the right things. So crazy that have to keep going through this - and the unfairness of missing out on the grant for school this semester to top it off! Best of luck getting it all straightened out, I know it will happen, but the frustration must be unbelievable. I know all your friends here are holding the thought that this will get resolved soon, and for good!
 

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Just out of curiosity, HOW do you owe $5000 in fees?

Maybe miles? Ending leases can be tricky. I pay cash for everything but my wife gets a new BMW every 3 years so she leases. I end up in a fight every 3 years. The dealer told me that they are usually a few thousand dollars upside down when a lease car comes back. So they try to get as much as they can when the car comes back. Then you fight over the list of issues they have. We bought her 2009 Z4 after the lease because she was driving our old X5 and the Z4 only had 3000 miles in 3 years. We owed 39K on it and it was a 72K car new. And it was identical to a new 2013 and it had no miles. Heck she uses it more now but it is still just over 8K miles.
 

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Discussion Starter #6
Guy that worked for me used this service. He was happy. It is $29 per month but it could save you more than that.


https://www.ecreditattorney.com/
Oooh, that looks promising! The time duration isn't ideal for this situation (unless I get the emergency extension), but it looks like a good company to help prevent this from happening again.

Holy Schnikeys! It seems like only yesterday you took delivery of that car. I wish I had something constructive to offer, but it seems as though you're doing all the right things. So crazy that have to keep going through this - and the unfairness of missing out on the grant for school this semester to top it off! Best of luck getting it all straightened out, I know it will happen, but the frustration must be unbelievable. I know all your friends here are holding the thought that this will get resolved soon, and for good!
Thanks for the kind words, this board is always helpful! It's odd to think it's been two YEARS already!!!

On the positive side, as far as MBFS is concerned, I am an A+ customer. :)

Just out of curiosity, HOW do you owe $5000 in fees?
20,000 miles in excess mileage fees plus turn-in fee. My goal for the car was to buy at lease end anyway, so I when I saw the odometer climb faster than expected, I ignored it.

I fully acknowledged the risk of over-mileage before I picked the car up. I read through every sentence of the lease before even signing it. :)

I based my mileage for the lease on how far I drove my first car, which was about 10,000 miles per year. I drove that car everyday and everywhere so it didn't sound unreasonable to get a 10k/yr lease.
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UPDATE:


MBFS is willing to work with me on the situation. If I choose to have them finance the car they'll not only offer me a special rate, but if I send them documentation of my credit disputes, they could be able to look past the negative information.

So, that's good news, at least.
 

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__________________________________________________________

UPDATE:


MBFS is willing to work with me on the situation. If I choose to have them finance the car they'll not only offer me a special rate, but if I send them documentation of my credit disputes, they could be able to look past the negative information.

So, that's good news, at least.
Good news indeed. Generally speaking financial institutions prefer to keep a willing customer by finding an arrangement than having a $$$ loss. Fingers crossed, Neon.
 

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Buy the car, for 9k. Making payments will help you credit status.

Do you have all the original things you took off the car before adding mods. If you have to turn in the car, they most likely will get you for that too.
 

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Buy the car, for 9k. Making payments will help you credit status.

Do you have all the original things you took off the car before adding mods. If you have to turn in the car, they most likely will get you for that too.
My plan all along was to buy the car at lease end. I actually expected buyout to be higher, so I'm pleased.

My credit would actually be REALLY GOOD if it weren't for this mishap. MBFS reports monthly to my credit. I have a couple other things out reporting good things monthly. But all of them are being dragged down by the 50+ negative things carried over by the other person's credit.

I explained the mods to MBFS a few times throughout the lease. They said mods were okay as long as they didn't make the car immobile. The only stipulation being that any mod left on the car at lease turn-in will become property of MBFS.
 

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Looks like you're going to have to extend your lease while you sort things out. If your credit is that bad, it will be difficult to financed for the $9,000 remaining on the car unless you have the cash to buy it out.

Good luck, Neon!
 

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Extend the lease another six months, so it'll be seven months and 12 days from today. Use the time to come up with a buy-out plan with a bank. If you can squirrel away a few dollars every month, that $9,000.00 could be much less come August 31st.

-wahi
 
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