I recently pulled my credit report to begin the task of fixing my credit and noticed an ugly mark on it. I had an installment loan with USBank opened in 2001, and I believe that it went to collections in 2003. We ended up settling the debt and paid it off in January of 2004. Though my Experian credit report says the "account was legally paid in full for less than the full balance". And in the recent payment history it has December 2007 noted as "charged off/bankruptcy" with a 90 day late payment back in June of 2007. Is there anythign I can do? Would a Goodwill Letter do any good? or cause more problems? I believe the cosigner has the documentation of the settlement, so I don't even have that.
I live in Idaho and the statue of lmitations on an open account ( which i am still unsure of what that means is 4 years).
Any help would be appreciated. Just to complicate matters there was a cosigner on the loan--is that going to affect anything?
Thanks.