Rebuilding Your Credit

[kt_scarlett007]

So, I had a VW credit loan for several years and was always current, until about 3 years in when I was silly and thought I was going to sell it and instead stopped making payments then changed my mind --started making payments, again, etc.

Long story short, I have a lot of 30 days, 60 days late and then finally, someone totalled my car and I paid it off via insurance.  So, now I have this 20,000 loan that was paid in full, but had a lot of lates....so do I:

1.   GW letter asking for the lates to be removed (car was paid off in full in 2006--but it's definitely referenced as being paid off my insurance)---there are a lot of lates

2.  Find something factually incorrect on the reporting, which I could probably see with the lates and everything and insist they delete the tradeline altogether (am afraid that I will lose points this way because it was a significant amount of credit)

Thoughts?  Thanks.

[AndySoCal]

Two things for your consideration. Be very careful what you do with this account and here is why. The older the delinquency dates get the less the impact they have on your score.  Secondly with the current FICO score model if this account gets re-reported it may / could lower your score. It could also lengthen the time until this account falls off your credit report. I would not do anything with this account. Removing old delinquency dates may not even raise your score a point. (Depending on your credit history)

[xoblondyox]

Also with goodwills, I have been trying for 4 months with VW Credit and no luck!!!!!