Hey guys this is my first post here so forgive me for not being up with all the lingo and terms.
So basically when I was 18 (23 now) I made some terrible credit choices. I maxed a student credit card (paid now) and took out an auto loan I had no business taking out in the first place. I've done well over the past 4 months paying off any small amounts and getting them deleted to where there is now only 2 things that haven't been paid. A collections account for 2800 and this repo I'm going to talk about below..
Here's my question. I have a repo on my credit report that has a repo date of July 2009. I have had NO contact with the lender since the repo date and I was thinking about contacting them to work on this. Im wondering what the best way to approach this is. Should I save up some money to offer them a pay for deletion? Call them now to work out some sort of payment plan? Call them and try to settle for less? Im clueless and basically IM doing so well on cleaning up my credit that I don't want to screw up the biggest mistake on there. Any advice would be helpful. Here are the details:
Lender : American Honda Finance
Loan Amount: 11300
Past Due: 1200 ( Is this just what I owed when the car got repoed)
Car Sold at auction: 6500
Loan Birthdate : Feb 2007
Repo Date : Jul 2009
The actual amount owed should be around 4000. That's the difference between what I already paid in principal in the past and what the car sold for at auction.
If you need more info just let me know.
Thanks in advanced for the help!!
