What does "Derogatory ratings will be corrected" mean?

[Anonymous]

I had a repo back in early 2005 and paid it off in 12/2005.

I recently discovered this forum and began my quest to fix my credit. I pulled my report and noticed this:
[TransUnion] Payment after charge off/collection. Paid profit and loss
[Experian] Transferred to recovery. Unpaid balance reported as a loss by credit grantor.
[Equifax] Lease

I sent a GW letter today to Honda to have the negative reporting removed then while looking for old invoices showing I had paid I found this letter from Honda:
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Dear Customer:

This letter is to serve as notice that the above referenced account has been paid in full. The derogatory rating at the consumer reporting agency will be corrected.

Should you have any questions or need assistance, please call us.

Sincerely,

American Honda

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My question is does this letter mean that they will remove the derogatory remarks or remove the negative reporting? Right now only TU and EX are reporting this as negative and EQ shows the account still open and nothing else.
Should I wait for Honda's reply to my GW letter or dispute this with TU and EX?

[llecs]

Was it a repo? Maybe the letter was referencing that.

Heck, I'd use it in the dispute process with the CRAs after 3-4 weeks due to your recently sent GW. That letter never specifically targeted which derog they are removing.

[Anonymous]

Yes, it was a repo and you're right, the way they worded the letter was tricky. Even if it was changed from "repo" it shouldn't be an "unpaid CO" because I paid it in full which the letter also confirms. I will definitely wait for Honda's response to my GW letter. I'll probably call them in 2 weeks to follow up and hope that the negative reports will be removed.

[llecs]

I'm gonna back off my dispute advice. I would wait a couple more weeks for any response on the GW, but then I'd send it again reworded with a copy of that letter. I would even go as far as to send 3-4 letters at the same time but include at least one to a higher-up at Honda Finance. Use dispute as a last advice.

This isn't stretching the truth, IMO, but I would see comments found in your myFICO reports and also TC, as you used and posted I believe, and include quotes from these reports in the body of your letter. Keep it very friendly and keep it short.

[Anonymous]

Last night I was looking through old credit reports from creditinform and found what I was looking for.

Equifax did report the repo back in Feb 2005. After the debt was paid in full a couple of months later, all the negative information including all late payments was removed and my EQ did not show any reporting.

Could Honda possibly requested the delete from EQ only and not TU & EX?

Because right now only TU and EX are reporting it as CO.