Hi everyone. I am new here, got a very bad credit rating and trying to get back on track. My story goes like this:
I had a car repossessed back in 2005, never made first payment, just made a bad decision and now I owe the difference between how much the bank sold the car for and the amount in my contract. Now, it appears as a charge off in my CRs 3 times. First entry is from the original creditor, then the other 2 is from the CAs the bank sold the debt to. I am now in the process of settling the debt with one of the CAs. This has been affecting my CRs for the last 3yrs. I wanted to get refinancing for my car which is at 19% but could not get any. Now my question is, after the last payment of the settlement amount has been paid, would I have a right to dispute with the original creditor and the other CA that this debt has been settled? Or does the original creditor know that it has been settled? How would this affect the balance reported on my CRs?