Need a little help with Paid Auto CO

[tekguy2k1]

Hey Everyone,

I have been reading these boards for a little while now but lurking in the shadows.  Just today, I have gotten 2 of my collections PFD that were valid.  I am so excited.  I do require help in one matter.  Here is the situation:

In Sept, 2006 I financed a vehicle through Fireside Bank (not a good choice) but I needed a vehicle.  In Dec, 2006 they repo'd it as I wasn't able to make the payment due to me losing my job.  I worked with the bank, and using a stipulated judgment, paid it off after the repo and auction of the vehicle.  The problem I have is this.  From Feb, 2007 to Nov, 2008 when I paid it off, they had been reporting it as 120 days late.  This is not correct since I paid what we had agreed on.  I called 6 mos. after it was paid off to find out they saw me as having $10/mo past due.  They stated they wouldn't remove the lates or account.  I have it in dispute now as I have stopped hiding my head in the sand regarding my credit and want to fix it as quick as possible.

Here is the account info:

Balance: $0
Date Updated: 11/2008
High Balance: $8,825
Past Due: $0
Terms: $231 for 60 months  <--- These were original terms.  After repo/auction, I paid 323/mo until paid.
Pay Status: >Payment After Charge
Off/Collection<
Account Type: Installment Account
Responsibility: Individual Account
Date Opened: 09/2006
Date Closed: 11/2008
Loan Type: Automobile
Remark: Account closed by credit grantor
Estimated date that this item will be removed: 10/2015

Any advice would be awesome as what to do with this one and how to get it off my credit report.  I have prepared a goodwill letter and am getting ready to mail it out.  I have been looking for email addresses, but all they have is a email form on their site that limits how much I can put on there to 250/characters.

Thanks in advance!!

[JM-AM]

Not sure if this could help you any but it is worth reading in your situation.

Our proposed class action settlement with Fireside Bank was finally approved .....This is great news for the approximately 17,500 members of the Gonzalezsettlement class--California consumers to whom Fireside sent post-repossession notices of intent to dispose (NOIs) between May 2000 and October 2001--and theLind settlement class--people to whom Fireside sent post-repossession NOIs between October 2003 and October 2007.

Gonzalez settlement class members will be refunded 100% of the post-repossession payments they made to Fireside. Lind settlement class members will be refunded 90% of their post-repossession payments. These payments will be mailed by the Settlement Administrator, Rosenthal & Company, no later than August 28, 2009.

In addition, Fireside is required to change its account records to show that each settlement class member has a zero balance with Fireside. It must instruct the credit reporting agencies, Experian, Equifax and TransUnion, to delete Fireside's tradelines on class members's credit reports. And it must recall all collection efforts against settlement class members. Finally, upon request from any settlement class member, Fireside must send that person a letter which confirms that their account balance is zero.

......

EDITED to add:  President, CEO, and CFO: edited

Edited to break up a copyrighted blog post  and to remove personal contact info. - llecs, myFICO moderator

[tekguy2k1]

Hey JM-AM,

Thank you a ton for that info.  I am going to check into that class action first thing in the morning.  I have just email my GW letter to Tal and have found a few more executive names via their financial filings with the State Of Arizona (which I reside).  I am going to send to them also.

[RobertEG]

Prior and accurate reporting of lates, be they a 120-dfay on the OC account, or a charge-off, ir even a CA, are unaffected by ultimate discharge of the debt.

Payment of debt never removes, without a private PFD agrrement with them, any prior credit reproting.

The OC can make two types of reporting to the CRA each and every month, forever.

Prior payment history, and current account status.

The 120-day late will remain, and be associated in your payment history profile with the month that it occured.  Payment history profile goes back, for each month, usually for two years of their prior credit reporting under the account, while active.  When you simply see, in a commercial credit report, the prior reporting of a 120-day late that is still in your CR, that does not mean that it is a NEW 120-day late.  It means that you have a credit report that is not also identifying the date associated with this. delinquency.  It is a CR that is not completely reflecting the facts in your credit file.

Current account status is quite different.  Reporting this month erases the prior account status code.  So it you pay, account status  willl be updated.  But that does not erase the continuing presence, under your priior account history profile, of the 120-day late.

[tekguy2k1]

Well I have some news to report!!

I emailed the CEO and received no response.      So I found some names on their financial filings and found their email addresses.  I emailed all 4 names and the VP of the company replied in 8 minutes a couple days ago.  He said he would forward my GW request and get back to me.  I haven't heard back yet (2 days) but as of today, this TL is gone from all 3 reports!!!!! I am so excited.  I never knew about goodwill letters before coming here over the last year.  I  truly and really do appreciate everyone on this board.  This TL wasn't due to be removed for 4.5 years ( it showed 26 120 day lates).

Also, thanks to this board, I had two collections from Kenneth, Eisen & Associates deleted for payment (debts that were mine.)   I also had a paid afni collection deleted.  Yes, I actually have the deletion letters in hand for these 3.  All in 5 days!!!!

Thank you everyone so, so much for the info here.  On to more credit repairing, lowering my util to 9%, some more DV'ing, and some HIPAA letters now. 

You guys rock!!

[JM-AM]

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@tekguy2k1 wrote:

Well I have some news to report!!

I emailed the CEO and received no response.      So I found some names on their financial filings and found their email addresses.  I emailed all 4 names and the VP of the company replied in 8 minutes a couple days ago.  He said he would forward my GW request and get back to me.  I haven't heard back yet (2 days) but as of today, this TL is gone from all 3 reports!!!!! I am so excited.  I never knew about goodwill letters before coming here over the last year.  I  truly and really do appreciate everyone on this board.  This TL wasn't due to be removed for 4.5 years ( it showed 26 120 day lates).

Also, thanks to this board, I had two collections from Kenneth, Eisen & Associates deleted for payment (debts that were mine.)   I also had a paid afni collection deleted.  Yes, I actually have the deletion letters in hand for these 3.  All in 5 days!!!!

Thank you everyone so, so much for the info here.  On to more credit repairing, lowering my util to 9%, some more DV'ing, and some HIPAA letters now. 

You guys rock!!

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Congrats 

Keep up the good work.