What should I do?

[fixmycred14]

I'm posting here becuase I am not having any luck with GWs. They are actually causing adverse results.

I'm trying to figure out what to do about this old repo. I want to apply for a mortgage in about a 1 year. The repo is with Drive Financial (Santander). EQ has the date of last activity as - May 07, EX February 2008 and TU has March 2008. The car was repoed January 2008 MLK weekend. Santander CO is $0 on all three reports.

CA Dynamic Recovery Solutions in only on EQ orig $6952/$10,428 assigned April 2013. I have never heard from Santander or Dynamic from 2008 up until now. Last month, when I started heavily repairing my credit, Dynamic called my job and left a message. 24 hours later I sent a DV CMRRR and never heard from them again. i have learned to opt out while repairing.

Should I send Santander a DD or just let it fall off? I don't want to wake a sleeping giant but I don't want this to prevent me from obtaining a mortgage. It is already causing problem in the cc dept. I don't have any of the documentation from Drive Financial when I purchased the vehicle in 2006. However, I'm pretty sure the May 2007 DoFD is correct. At that time, I obtained a payday loan from Cashcall to pay Drive Financial. Cashcall has a DoFD as May 2007 as well. Overwhelmed, I ceased paying everything.

Additionally, I planned to let Cashcall fall off. The DoFD is May 2007 and no CA is reporting. Cashcall has a $0 balance and only appears on EQ.

[fixmycred14]

I'm trying to figure out what to do about this old repo. I want to apply for a mortgage in about a 1 year. The repo is with Drive Financial (Santander). EQ has the date of last activity as - May 07, EX February 2008 and TU has March 2008. The car was repoed January 2008 MLK weekend. Santander CO is $0 on all three reports.

CA Dynamic Recovery Solutions in only on EQ orig $6952/$10,428 assigned April 2013. I have never heard from Santander or Dynamic from 2008 up until now. Last month, when I started heavily repairing my credit, Dynamic called my job and left a message. 24 hours later I sent a DV CMRRR and never heard from them again. i have learned to opt out while repairing.

Should I send Santander a DD or just let it fall off? I don't want to wake a sleeping giant but I don't want this to prevent me from obtaining a mortgage. It is already causing problem in the cc dept. I don't have any of the documentation from Drive Financial when I purchased the vehicle in 2006. However, I'm pretty sure the May 2007 DoFD is correct. At that time, I obtained a payday loan from Cashcall to pay Drive Financial. Cashcall has a DoFD as May 2007 as well. Overwhelmed, I ceased paying everything.

Additionally, I planned to let Cashcall fall off. The DoFD is May 2007 and no CA is reporting. Cashcall has a $0 balance and only appears on EQ.

[RobertEG]

Aside from any issues of credit reporting, you have creditors who are asserting an unpaid, delinquent debt.

If the DOFD is in May, 2007, then credit report exclusion of any CO, repo, or collection will be no later than 11/2014, which appears close to your expected mortgage app process.  After CR exclusion, a prospective creditor will not be able to become aware of the unpaid debt by a simple pull of your CR.  So you put it under a basket.

However, CR exclusion does not ensure that a prospective creditor will not become aware of the continued presence of an unpaid, delinquent debt.

They can, for example, simply ask in your app for a listing of any unpaid debt.

Sending a direct dispute infers that you have basis for documenting some inaccuracy in their reporting.  Unlike a DV, which requires no identifcation of an inaccuracy, a dispute imposes the initial burden on the consumer of identification of a specific inaccuracy. What would be your basis for dispute?

With Dynamic apparently being under a cease collection bar, you cannot offer payment terms with them involving any negotiations.

You could simply PIF, or you could withdraw your DV request and attempt to negotiate a settlement, with or without CR deletion.

AS for Cash Call, they have apparently sold the debt, and thus you cannot pay them.  Perhaps contact them and get the name of the current owner.

The primary issue, as I see it, is whether you will be required to satisfy your delinquent debts, regardless of credit report inclusion, as a condition for loan approval.

If so, the web of history makes the current payment process a bit tricky both as to negotiation and who to contact as the currrent owner.

[fixmycred14]

Thanks RobertEG --

Please clarify.

If so, the web of history makes the current payment process a bit tricky both as to negotiation and who to contact as the currrent owner.

How long is the cease collection bar? The DV was sent to Dynamic Recovery approx. 30 days ago after they contacted me at work. I have not received a response.

CashCall obiously sold the debt to a non-reporting CA. However, these types of payday loans are increasingly becoming illegal all over. I am not sure if they can collect on it. I have not contacted CashCall and I have never heard from a CA regarding this debt from 2007. No activity whatsoever.