My credit score shows I owe a ballon payment on a car I turned in 4 years ago?

[NicoleB]

When I was 19 and thought I needed a brand new F150 I bought one, well actually with no credit I was suckered into leasing one. It sounded great and I loved my truck. When the lease was over I decided I needed a more economical car bc I had a baby. I turned in my truck on the day I was told to. They told me I owed for over miles and wear and tear. I can take complete responsibility for this. Long story short.. I never paid them. And now 4 years later I am wanting to clean up my credit. My credit says I owe 12.8 K and its says balloon payment.. WHAT???

[HeatherC]

Never sign a contract without reading it! If you can find the contract and read it. Another thing is, save all car purchases/leases paperwork in the house and not in the glove box. Baloon payment is a huge payment at the end of the lease.

[Billie]

Well, you made one mistake, then you made a conscience attempt to not pay a bill, what do you expect?

Where is it written that people can simply do whatever they want, violate the terms of written agreements, and not have to eventually own up? Where is it written that you can do this and then whine when you are held accountable?

Contact the lessor and make arrangements to clean this up.