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Settlement Question

Member

Settlement Question

I was offered a settlement amount on an deliquent car loan from Nuvell.  I was wondering what I should request I have done as far as the report that will be made to the credit bureaus.  I settled on a credit card once before and it showed that the payment was a settlement account and kept it on file for the full 7 years.  Do I have any recourse to ensure that Nuvell would not report it as a settlement or is it possible to have them remove it once paid?  As of now, Nuvell and I have agreed to partial payments of $300 a month, which they have updated the credit bureaus an does not seem to be helping my credit score much.   Any help would be greatly appreciated.
Message 1 of 3
2 REPLIES
Established Contributor

Re: Settlement Question

have you read the Credit scoring 101 at the top of the page?   Try PFD.  Ask for them to clear all negitives and report paid as agreed, never late.
9/18/08 TU=707 EQ=706 EX=702
Message 2 of 3
Member

Re: Settlement Question

Thanks so_confused...that helps a lot....
Message 3 of 3