Rebuilding Your Credit

[rckstrscott]

Went to my TrueCredit today and was shocked that Santander removed my repossession completely!

Without going into huge detail, I had a voluntary repo with Citi finance in 2009, Santander bought them out, and I had to work with Santander to get my repo coded correctly (they had it listed as settled less than full, I negotiated settled in full with Citi). They were a huge pain, and it took about 20 letters and emails but I was able to get them to agree to something better than settled less than full, which was Paid in Full Closed.

My last letter from Santander indicated they would agree to change the coding to paid in full, so I wrote them a good will asking for the removal instead. The letter came on June 21st, I GWed them on August 7th. Flash fforward to today, I checked the TrueCredit and it was gone. Purchased my Tri-Merged for 9 bucks, and it had also been removed from Experian and Equifax.

Came on to myFico, purchased my TU score and it went up 21 points! This is the biggest single jump I have received from removal of something.  I am stoked!

For those who don't believe in the power of persistance, and in the advice of those on this forum, I am living proof of how fast it can turn around. On October 31st, 2010, I had 20 derogs listed on my Transunion report (TrueCredit keeps your first purchased report) -- In 10 months, I have removed 16 of them.

Wow, this one feels great haha

-scott

[rescueman451]

Congrats on this!!  I also have a CO with Santander for a vehicle.  Sold the car and gave them what I received plus another lump sum payment.  Still reporting negatively and would LOVE to get this removed.  Do you have the contact info?  If so, would you mind sharing with me?

[veggs2000]

Congrats!

I had ONE 30 day late with them in July 2010 and 3 years of on time payments and can not get them to remove that one stinking late!

[rckstrscott]

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rescueman451 wrote:

Congrats on this!!  I also have a CO with Santander for a vehicle.  Sold the car and gave them what I received plus another lump sum payment.  Still reporting negatively and would LOVE to get this removed.  Do you have the contact info?  If so, would you mind sharing with me?

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I used the PO Box and the email form on the website, if you would believe that! I just stayed persistant with the letters. The only thing working in my favor is that my loan was with Citi and settled prior to them taking over the portfolio, so I think ultimately they just conceeded that maybe they didn't have the information correctly.

[rescueman451]

That sounds like my situation too.  Citi had mine as well and I had no idea it was transferred to Santander until I saw it on my credit report.  I used the form on their site about two weeks ago, nothing yet.  Going to keep plugging away though.

[RustyRico]

I have a repossession in Mar 2010 with Santander and I just recently started the process trying to settle this account. The orginal creditor was with Drive Financial, but Santander bought them out.  I just recently sent them a certified letter asking for them to verify the debt.  I do know I was never contacted after the car was repo'd and have not heard from them since. Right now the balance is the same amout before the repo (appx 12,000).  The amount was never updated after the sell of the vechile. So I do expect that the amount owed is incorrect.  My guess is that they will come back update the balance.  Once they come back how do you suggest I proceed?  I will have about $6k for a one time lump sum to pay it off, but I would rather to to save as much money as possible. Please help

[rckstrscott]

Hey RustyRico

Your situation differed from mine in a lot of ways I believe; my repo was prior to Santander taking over the CitiFinancial portfolio, where as yours appears to be Santander took over a current loan from Drivers.

If Santander repo'ed you, they are  big old pain in the bootie. But I didn't use any specific address or email address. Just their normal addys.

Good luck! I wish I coulda provided you with some better information.

-scott

[diabla]

Santander also purchased my old Drive loan from 2006 and they are due to drop off my credit report early next year.  I have a friend who just got financed through them!  I had never heard of them until I started credit repair again a couple of months ago.  I'm hoping they go away quietly next year as expected!

[Cadillac-XTS]

Congrats

[Booner72]

Congrats, Scott! (and no, it wasn't my final post....just haven't been around in a while.....tonight I'm feeling the need for some fico) -