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Below is an account I need to get off my reports. Anyone have any suggestions? They said they will accept less than they amount, but they will not withdraw it from my report. I'm not sure what to do our how to negotiate with them to get this done. This is a repo from back in Dec 2008. What strategy should I use? GM FINANCIAL Potentially Negative Closed | |||||
GM FINANCIAL | GMFNANCIAL | GM FINANCIAL | |||
XXXXXXX | XXXXXXX | XXXXXXX | |||
Auto Loan | Installment | Installment account | |||
$4,927.00 | $4,927.00 | $4,927.00 | |||
2/1/2004 | 2/1/2004 | 2/24/2004 | |||
Closed | Closed | Closed | |||
$607.00 | $607.00 | ||||
$4,927.00 | $4,927.00 | $4,927.00 | |||
Charge-off | Bad debt & placed for collection & skip | Charged off as bad debt | |||
$7,005.00 | $22,978.00 | ||||
67 Months | 67 Months | ||||
Account in dispute-reported by subscriber | CHARGED OFF ACCOUNT | Account information disputed by consumer |
@randyrhodes wrote:
Is this debt from 2004?
I think 2004 is the open date, OP states the repo was in Dec 2008.
To OP: If there is an error in the way it is reporting to the CRAs you can dispute those points if you so desire, I will caution you the status date is liable to come current and if it hasnt reported in awhile it will most likely drop your scores.
@radtechdude wrote:
Below is an account I need to get off my reports. Anyone have any suggestions? They said they will accept less than they amount, but they will not withdraw it from my report. I'm not sure what to do our how to negotiate with them to get this done. This is a repo from back in Dec 2008. What strategy should I use?GM FINANCIALPotentially Negative ClosedGM FINANCIAL GMFNANCIAL GM FINANCIAL XXXXXXX XXXXXXX XXXXXXX Auto Loan Installment Installment account $4,927.00 $4,927.00 $4,927.00 2/1/2004 2/1/2004 2/24/2004 Closed Closed Closed $607.00 $607.00 $4,927.00 $4,927.00 $4,927.00 Charge-off Bad debt & placed for collection & skip Charged off as bad debt $7,005.00 $22,978.00 67 Months 67 Months Account in dispute-reported by subscriber
CHARGED OFF ACCOUNTAccount information disputed by consumer
I would wait it out. Like you, I had a repo from Americredit / GM Financial in 2008. The DOFD occured in 2007. They 1099'd me in 2012. Then this year it dropped off of my report.
What is your DOFD? Have you received a 1099?
So it could be on your credit report til October of this year, or maybe even spring of next. What state are you in? Hopefully it is at least out of the statute of limitations so they can't sue you for it?
At best you can either wait for it to fall off, or pay it / take the settlement and send good will letters asking them to delete early.
@randyrhodes wrote:
More than likely they'll go by OK SOL. It'll be on your report til OCT 2015 or spring of 16. If you're not past SOL I'd say they'll ask for the whole thing. If I were you I'd wait as not to kick a sleeping dog so to say. They may just sue instead.
nah he is out of SOL for all three states, they can't sue any more