Cascade Capital

[Anonymous]

Hi,

I had a Santander car loan that defaulted, Santander is now listing this as Charged off as bad debt, Unpaid balance reported as a loss by credit grantor, Purchased By Another Lender on my 3 credit reports.

I called Santander and they said they sold it to Cascade Capital about 5 months ago.

Cascade Capital has not started reporting yet.

I would like to have the debt settled - I have the money to do that, and for the OC, santander, to report the best possible information my report.

What should I do? Call? DV? Something else?

[gdale6]

Santander is done reporting on this as they no longer own it, what is on your CR now (0 balance due, sold to another lender) is whats going to remain unless you can get them to remove the TL in its entirety with a GW letter. What I would do is contact the new owner of the debt and arrange to pay in exchange for them not reporting anything to your CR on it.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...

[Anonymous]

I contacted the new owner of the debt, paid it and they agreed not to report it. Now I have to do the GW to santander.

Thanks gdale6