Auto Charge Off

[cplmercy]

Ok after reading the forums for days now i have to ask this question. I have a citifinancial auto loan that was charged off in Jan 2007 and they never came to reposses the car (its still in my possesion) and now a company called Santander Consumer USA is reporting the same auto loan word for word right next to citifinancial auto on my credit report. What i want to do is pay this auto loan off and get them to either remove it from my credit reports and or update it to reflect a account in good standing. I have no idea where to start and i scares me to do anything without help. does anyone have any ideas on what course of action i should take. Please help!

[guiness56]

Welcome to the forums.

How is the Citi TL reporting?  Did they sell the debt to Santander?

What is your state SOL for written contracts?

[cplmercy]

THIS IS WHAT CITI IS REPORTING AND SANTANDER SAYS THE EXACT SAME THING. AND I DONT KNOW WHAT IT IS FOR MICHIGAN

CITIFINANCIAL AUTO

, - (469) 220-4705

Account Number:	XXXXXX	Status:	CHARGE-OFF
Account Owner:	Individual Account.	High Credit:
Type of Account :	Installment	Credit Limit:
Term Duration:	72 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	04/01/2006	Balance:	$10,636
Date Reported:	09/01/2010	Amount Past Due:	$10,636
Date of Last Payment:	01/2008	Actual Payment Amount:
Scheduled Payment Amount:	$293	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	01/2008	Months Reviewed:	50
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:	$10,636	Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Auto
Date of First Delinquency:	07/2007
Comments:	Charged off account

81-Month Payment History

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2010

CO

CO

CO

CO

CO

CO

*

*

2009

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

2008

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

CO

2007

*

*

*

*

*

*

*

30

60

*

*

120

2006

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*

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*

[cplmercy]

I just checked and the SOL for Michigan is 6 yrs.

[cplmercy]

Here is what this Santander lists SANTANDER CONSUMER U	XXXX	/24/2006	$10,636	08/31/2013	$10,636	CHARGE-OFF
SANTANDER CONSUMER USA PO Box 961245 Fort Worth, TX-761610244 (800) 923-9282 Account Number: XXXXXXXXX Status: CHARGE-OFF Account Owner: Individual Account. High Credit:   Type of Account : Installment Credit Limit:   Term Duration: 72 Months Terms Frequency: Monthly (due every month) Date Opened: 04/24/2006 Balance: $10,636 Date Reported: 08/31/2013 Amount Past Due: $10,636 Date of Last Payment: 06/2007 Actual Payment Amount:   Scheduled Payment Amount: $293 Date of Last Activity: N/A Date Major Delinquency First Reported: 10/2010 Months Reviewed: 35 Creditor Classification:   Activity Designator: N/A Charge Off Amount: $10,636 Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Auto Date of First Delinquency: 08/2007 Comments: Charged off account 81-Month Payment History Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 CO CO CO CO CO CO CO           2012 CO CO CO CO CO CO CO CO CO CO CO CO 2011 CO CO CO CO CO CO CO CO * CO CO CO 2010 * * * * * * * * CO CO CO CO 2009 * * * * * * * * * * * * 2008 * * * * * * * * * * * * 2007 * * * * * * * * * * * * 2006                     *

[cplmercy]

Any Ideas on what to do or action to take? Anybody?

[guiness56]

I am fairly certain Citifinancial sold to Santander.  If that is the case, Citi should be reporting a 0 balance and say sold/transferred to another lender.

They can both be on your CR but not both showing a balance.

[cplmercy]

Any Ideas on how I could fix this issue and get these at least showing a positive and or neutral on my credit score?

[guiness56]

The only way to do that would be to work something out with Santander for payment and how they are reporting.

For Citi, you could send them a GW letter asking if the would delete the TL.

[cplmercy]

Thanks it helps when it comes to any advice. I have read a lot about Santander as being very crooked so I may just get a lawyer to deal with them on a settlement.