Reply
Member
elronte
Posts: 8
Registered: ‎05-14-2007

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.
Established Contributor
so_confused
Posts: 630
Registered: ‎06-20-2007

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
Member
elronte
Posts: 8
Registered: ‎05-14-2007

Re: Settlement Question

Thanks so_confused...that helps a lot....

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+