Rebuilding Your Credit

[esmer0924]

I have an old repo from 2007 with American Honda Financial.  Just recently, this account was sent to NCO Financial and they are giving me 30 days to dispute the debt.  When the debt was with Northstar I had called Honda and found out they still own the account but it was assigned to Northstar.  I am wondering if this is the same with NCO FInancial Systems, Inc. 

My question is, do I send the DV letter to American Honda Financial since they still own it?  -Or do I sent it to NCO?  Maybe both?

Another **bleep** with Honda for a PFD.  My thoughts are to do the following:

• Send DV letter.  (just need to figure out to who)?
• Send expired SOL letter and demand removal from both Honda and NCO, or...
• Work with Honda directly since they still own the account, argue the SOL is expired and they will not recover any $ from me.  But, perhaps if I offer them 10 or 20% of the balance they would agree to call off NCO and they will delete their reporting?  It will benefit me and them.  Recovering a portion of the balance is better than nothing, right?  -I hope they see it that way!

Does anyone think there's logic to this?  Here is some info about the original acct and NCO's reporting.  Thanks.

Original Creditor:

American Honda Lease, repo.

Deficiency amount $10,934.37

Original date of Delinquency:  Nov 2007.  No reaffermation of debt after this date.

[Shogun]

First of the DV process is only for the CA, not the OC.  If the OC can still accept the debt, then I would deal directly with them.  The fact that this account is past the SOL does not  mean it has to be removed from your CR.  That is a matter for the CRTP.  It does however give you a little bit better option of settling.  Since it is past the SOL, you could try to settle for the 10-20%.