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Santander Settlement

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atxhunter
Valued Member

Santander Settlement

 

Need some advice. I was planning on sending an PFD for 50% of my delinquent debt with Santander and just recieved this email below from them indicating that they are willing to settle for 30% of the delinquency. Should I still send them the PDF for 30% of the debt or pay the settlement? If I pay the settlement, all lates, repo, etc will still affect my score, correct?

 

We have a limited time Settlement Offer available to help resolve your deficiency balance.
 
Our records show that you have a balance due of $7486; which we are willing to accept 30% of the amount in order to settle your account in full.
 
You must call our office within 45 days of this letter if you are interested in taking advantage of this offer.  Your settlement amount would be $2246 to settle this account in full.  After your settlement amount is paid in full, we will send you your title.  Even if you are unable to take advantage of this offer, please contact our office to see what terms can be worked on to resolve your account.
 
You Must Act Quickly!
 
Please give us a call by 4/15/13 at 800-215-6922 and select option 4 to discuss the full offer details.  You can also access your account and make payments online by logging into theMy Account section at www.santanderconsumerusa.com.
If you fail to call our office by the date above, Santander Consumer USA will consider this settlement offer automatically revoked and null and void without further notice.
 
This settlement may have tax implications.  Please consult a tax advisor to determine the impact on your specific tax situation.  Santander Consumer USA cannot provide tax advise to you.

Sincerely,

Santander Consumer USA Inc.

Deficiency Department

Message 1 of 11
10 REPLIES 10
guiness56
Epic Contributor

Re: Santander Settlement

I would use their settlement offer in a PFD letter.  Just make sure you send it out within 45 days.  Is this out of suing SOL?

Message 2 of 11
atxhunter
Valued Member

Re: Santander Settlement

 

I don't believe so. 

 

TX SOL 4 years

 

Date Opened 2/08

DOLA 1/12

Date Closed 11/11

Message 3 of 11
guiness56
Epic Contributor

Re: Santander Settlement

None of those dates apply.  Do you know the DoFD?  When did you get behind and never catch up?

 

 

Message 4 of 11
atxhunter
Valued Member

Re: Santander Settlement

 

I don't know off hand but I would say it was late 2009 or early 2010. 

Message 5 of 11
gwayne8254
New Visitor

Re: Santander Settlement

Did you take the settlement?  Did they send the title?

Message 6 of 11
webhopper
Moderator Emeritus

Re: Santander Settlement


@gwayne8254 wrote:

Did you take the settlement?  Did they send the title?


 

Hello and welcome to MyFico community forums! The original member who posted about this settlement has not logged on for over 1 year. We hope that all has worked out with his situation; but alas, we may never know. Many forum members are very knowledgeable and would love to help if you have an issue. To post a message that is unique to you; click on the New Message button in the main forum! Best of luck and welcome to the forums!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 7 of 11
guiness56
Epic Contributor

Re: Santander Settlement


@webhopper wrote:

@gwayne8254 wrote:

Did you take the settlement?  Did they send the title?


 

Hello and welcome to MyFico community forums! The original member who posted about this settlement has not logged on for over 1 year. We hope that all has worked out with his situation; but alas, we may never know. Many forum members are very knowledgeable and would love to help if you have an issue. To post a message that is unique to you; click on the New Message button in the main forum! Best of luck and welcome to the forums!

Ummm, I think it's only been a month.  I hope the year didn't go that fast lol.

Message 8 of 11
webhopper
Moderator Emeritus

Re: Santander Settlement

You are right! My apologies. I have been a little sickly today...

When I read the post I could have sworn it said 3/5/2012.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 9 of 11
ktm214
Frequent Contributor

Re: Santander Settlement

If it was a repo, you won't get a title as you no longer own the vehicle.

Message 10 of 11
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