I've been there too. I was only late by 1 or 2 stinkin' payments and they took the car. They allowed me to pay that one payment and the next payment and the assoc. fees and I got the car back. I then had to continue the loan as planned until paid off. Unfortunately, a repo hurts.
I did send GWs galore. Americredit dropped the repo reference on two reports and kept the lates. The other report kept the repo reference and dropped the lates.
Also, study your lates on your CR. If you disagree with the lates reporting and could prove it, then try disputing.