topic Hyundai Motor Finance Charge off in Auto Loans

Hyundai Motor Finance Charge off

dciples — Mon, 05 Nov 2012 20:54:52 GMT

Not sure if this would be the right section, but here goes...

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

Account Number:		Status:	CHARGE-OFF
Account Owner:	Co-maker	High Credit:
Type of Account :	Installment	Credit Limit:
Term Duration:	72 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	11/24/2004	Balance:	$280
Date Reported:	09/24/2012	Amount Past Due:	$280
Date of Last Payment:	08/2007	Actual Payment Amount:
Scheduled Payment Amount:	$384	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	08/2006	Months Reviewed:	20
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:	$861	Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Auto
Date of First Delinquency:	02/2006
Comments:	Charged off account

81-Month Payment History

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2012

2011

2010

2009

2008

2007

2006

2005

Re: Hyundai Motor Finance Charge off

Hammer23 — Wed, 24 Oct 2012 02:29:37 GMT

dciples wrote:
Not sure if this would be the right section, but here goes...

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

Account Number: 2004120155XXXX Status: CHARGE-OFF
Account Owner: Co-maker High Credit:
Type of Account : Installment Credit Limit:
Term Duration: 72 Months Terms Frequency: Monthly (due every month)
Date Opened: 11/24/2004 Balance: $280
Date Reported: 09/24/2012 Amount Past Due: $280
Date of Last Payment: 08/2007 Actual Payment Amount:
Scheduled Payment Amount: $384 Date of Last Activity: N/A
Date Major Delinquency First Reported: 08/2006 Months Reviewed: 20
Creditor Classification: Activity Designator: N/A
Charge Off Amount: $861 Deferred Payment Start Date:
Balloon Payment Amount: Balloon Payment Date:
Date Closed: Type of Loan: Auto
Date of First Delinquency: 02/2006
Comments: Charged off account
81-Month Payment History
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2012 * * * * * * * *
2011 * * * * * * * * * * * *
2010 * * * * * * * * * * * *
2009 * * * * * * * * * * * *
2008 * * * * * * * * * * * *
2007 * * * * * * * * * * * *
2006 * * 30 30 * 30 60 * * * * *
2005 *

If the report is accurate and this is your charge off, it will remain in your report for 7 years.

You may try to contact HMFC and see is you pay the charge off if they will delete the trade line.

Re: Hyundai Motor Finance Charge off

dciples — Wed, 24 Oct 2012 02:35:24 GMT

7 years feom what date on this report? And yes it is unfortunately accurate.

Re: Hyundai Motor Finance Charge off

guydiver — Wed, 24 Oct 2012 02:45:30 GMT

dciples wrote:
7 years feom what date on this report? And yes it is unfortunately accurate.

Most probable scenario, it will drop off your report 7-7.5 years from the DOFD, which is listed at 02/06.....so somewhere in the neighborhood of 02/13 and 08/13, but you might get a break and have it fall off earlier. YMMV and the CRA's can be a bit inconsistent.

Re: Hyundai Motor Finance Charge off

Walt_K — Wed, 24 Oct 2012 22:55:45 GMT

Did you bring the loan current in May of 2006 or are they just not reporting a 30 day late then? If you brought it back current, that resets the time period for when you count for deletion.

Re: Hyundai Motor Finance Charge off

Shogun — Thu, 25 Oct 2012 08:15:37 GMT

dciples wrote:
Not sure if this would be the right section, but here goes...

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

Account Number: 2004120155XXXX Status: CHARGE-OFF
Account Owner: Co-maker High Credit:
Type of Account : Installment Credit Limit:
Term Duration: 72 Months Terms Frequency: Monthly (due every month)
Date Opened: 11/24/2004 Balance: $280
Date Reported: 09/24/2012 Amount Past Due: $280
Date of Last Payment: 08/2007 Actual Payment Amount:
Scheduled Payment Amount: $384 Date of Last Activity: N/A
Date Major Delinquency First Reported: 08/2006 Months Reviewed: 20
Creditor Classification: Activity Designator: N/A
Charge Off Amount: $861 Deferred Payment Start Date:
Balloon Payment Amount: Balloon Payment Date:
Date Closed: Type of Loan: Auto
Date of First Delinquency: 02/2006
Comments: Charged off account
81-Month Payment History
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2012 * * * * * * * *
2011 * * * * * * * * * * * *
2010 * * * * * * * * * * * *
2009 * * * * * * * * * * * *
2008 * * * * * * * * * * * *
2007 * * * * * * * * * * * *
2006 * * 30 30 * 30 60 * * * * *
2005 *

7 years + 180 days from the date in red. The DOFD. So 08/2013 and you should be good to go.

Re: Hyundai Motor Finance Charge off

HyundaiCARE — Thu, 25 Oct 2012 14:00:37 GMT

My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”

Re: Hyundai Motor Finance Charge off

dciples — Thu, 25 Oct 2012 16:40:11 GMT

Why would I contact you Mr. Kirkreit? So you can update my report to current and have this start as a new collections? I don't think so. Thanks anyways.

Re: Hyundai Motor Finance Charge off

TNTransplant — Thu, 25 Oct 2012 23:54:26 GMT

dciples wrote:
Why would I contact you Mr. Kirkreit? So you can update my report to current and have this start as a new collections? I don't think so. Thanks anyways.

:smileyvery-happy:

Re: Hyundai Motor Finance Charge off

Shogun — Fri, 26 Oct 2012 12:04:12 GMT

HyundaiCARE wrote:
My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”

Did you just blow off an executive that offered to help you?

Re: Hyundai Motor Finance Charge off

madmann26 — Fri, 26 Oct 2012 14:02:10 GMT

For $861 and a Care Manager reached out to you, you want to be a ****? Hell, you deserve to have it reaged then.

Edited for strong language.

Re: Hyundai Motor Finance Charge off

Epcot — Sat, 27 Oct 2012 01:41:02 GMT

HyundaiCARE wrote:
My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”

Welcome Richard and thank you for reaching out. I currently have an auto loan through HMFC (In good standing) and appreciate you taking the time to become a member here and offer assistance. :smileyhappy:

Re: Hyundai Motor Finance Charge off

guydiver — Sun, 28 Oct 2012 21:27:24 GMT

Epcot wrote:
HyundaiCARE wrote:
My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”
Welcome Richard and thank you for reaching out. I currently have an auto loan through HMFC (In good standing) and appreciate you taking the time to become a member here and offer assistance. :smileyhappy:

Ditto here. Thanks for dropping in. Love our Sonata. :smileyhappy:

Re: Hyundai Motor Finance Charge off

dciples — Tue, 30 Oct 2012 15:43:55 GMT

For all you judgmental douchebags out there...before you start assuming that just because someone says they want to help, that they actually do. I have news for all on this forum. I called this Richard guy and his first response to me was that he doesn't remember posting this and that he actually has people post for him. Second, the only information/help (if you want to call it that) he had for me was when the account went into being a CO. So I asked him if they would negotiate a removal if PIF and he said no due to being disciminatory. So I said that when he or whomever posted on his behalf said he was there to help, he really wasn't and he agreed. I recommended he NOT have people post on his behalf and he rudely said he would take that into consideration.

So, just because someone who has the control on the other end of your credit reporting says they "want to help" don't believe it! I accept your apologies all who judged me!!!

Re: Hyundai Motor Finance Charge off

Walt_K — Tue, 30 Oct 2012 19:07:03 GMT

I can also say from experience that you shouldn't put too much stock in an offer to help especially in a collection type situation on these boards. There are some companies that do monitor here and will genuinely offer to provide help. There are others that will just try to get people to call in so that they can initiate collection activity.

We posted about a paid collection that my wife had and whether it would be possible to have it removed a while back. It was clear that it was already paid and we were wondering whether we could offer more money to have it removed. The CA posted that we should contact someone in their executive office who could help us. When we called, it was clear they hadn't read anything we posted. They were trying to get us to pay the debt until they realized that it was already paid, and then they said they couldn't do anything for us. So I'm guessing they just have a google alert set up or something and don't bother to read the posts. That obviously doesn't go for every company, but be careful if responding to posts like this.

Re: Hyundai Motor Finance Charge off

dciples — Tue, 30 Oct 2012 19:11:55 GMT

Thank you for your feedback. I hope others gleen from yours and my experience.

Re: Hyundai Motor Finance Charge off

Shogun — Wed, 31 Oct 2012 08:02:33 GMT

Wasn't judging, but it was worth a shot on contacting him. He might want to reconsider having other people post on his behalf. I am assuming that they thought they would improve an image, however that seemed to backfire. Sorry it didn't work out, but it was worth a shot.

Re: Hyundai Motor Finance Charge off

maiden_girl — Fri, 02 Nov 2012 03:51:36 GMT

To the OP, I'd also remove the partial account number from the post....It's not the whole number but it is very easily obtained with the right click...ANYONE can get on the internet, a forum, and say they are from a company and write a number for you to call. Screaming identity theft anyone? Be careful. I don't know why a Hydundai Rep would be on MYFICO forum anyway. If he really is a rep, you've certainly surprised me as well as other curious users.

Account Number:	2004120155XXXX	Status:	CHARGE-OFF
Account Owner:	Co-maker	High Credit:
Type of Account :	Installment	Credit Limit:
Term Duration:	72 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	11/24/2004	Balance:	$280
Date Reported:	09/24/2012	Amount Past Due:	$280
Date of Last Payment:	08/2007	Actual Payment Amount:
Scheduled Payment Amount:	$384	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	08/2006	Months Reviewed:	20
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:	$861	Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Auto
Date of First Delinquency:	02/2006
Comments:	Charged off account