Repossession reporting Settled :(

[lindsaydruart]

I knew this would happen but I thought I might get a score bump because of the 5k debt going to zero. Nope, I got decreases on all scores. I plan to do a GW to see if CapOne will update it. Anything else I can do for this debt other than let it age?

[AndySoCal]

You have a better chance if the account was not settled. Capital One is difficult at best with GW letters having any impact. Also settled is considered derogatory and depending on when this account was last reported before the settlement.  Because the account is now reported more recently the derogatory information his haveing a greater impact on your score.

[lindsaydruart]

The balance sat on my report for almost 2 years so it's not hurting but it's definitely not helping. I've had success with CC GW with Capital One but I haven't tried for the auto loan yet.

[Kimberly68]

Have you added any positive tradelines to your report?  I had the same thing but after a decrease after a month or so my scores bounced back. 

[lindsaydruart]

Yes, I have over 20 positive accounts that are on time or PIF. I'm hoping the bounce back.