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How to get this off my report?

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radtechdude
New Contributor

How to get this off my report?

 

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 FINANCIALGMFNANCIALGM FINANCIAL 
XXXXXXXXXXXXXXXXXXXXX 
Auto LoanInstallmentInstallment account 
$4,927.00$4,927.00$4,927.00 
2/1/20042/1/20042/24/2004 
ClosedClosedClosed   
 $607.00$607.00   
$4,927.00$4,927.00$4,927.00   
Charge-offBad debt & placed for collection & skipCharged 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
Message 1 of 20
19 REPLIES 19
randyrhodes
Established Contributor

Re: How to get this off my report?

Is this debt from 2004?
Message 2 of 20
gdale6
Moderator Emeritus

Re: How to get this off my report?


@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.

Message 3 of 20
trix_r_4_kids
Regular Contributor

Re: How to get this off my report?


@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 FINANCIAL
Potentially Negative Closed
  
    
GM FINANCIALGMFNANCIALGM FINANCIAL 
XXXXXXXXXXXXXXXXXXXXX 
Auto LoanInstallmentInstallment account 
$4,927.00$4,927.00$4,927.00 
2/1/20042/1/20042/24/2004 
ClosedClosedClosed   
 $607.00$607.00   
$4,927.00$4,927.00$4,927.00   
Charge-offBad debt & placed for collection & skipCharged 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

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?

I used to post my scores here. However, I'm prone to motion sickness and the ups and downs were nauseating.
Message 4 of 20
radtechdude
New Contributor

Re: How to get this off my report?

I don't know what a 1099 is. And no they haven't sent me anything. Maybe because I have move a few times since then.
Message 5 of 20
radtechdude
New Contributor

Re: How to get this off my report?

It says my DOFD IS Oct 2008. It says the first reported day is Feb 2009. I have not paid this debt.
Message 6 of 20
notfancy
Valued Contributor

Re: How to get this off my report?

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. Smiley Sad

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Message 7 of 20
radtechdude
New Contributor

Re: How to get this off my report?

I live in Texas. However I bought the car in Oklahoma. The repo took place in Georgia. What state do they go by for the SOL? If I paid the settlement what should I offer them?
Message 8 of 20
randyrhodes
Established Contributor

Re: How to get this off my report?

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.
Message 9 of 20
notfancy
Valued Contributor

Re: How to get this off my report?


@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

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Message 10 of 20
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