Valued Contributor
rckstrscott
Posts: 2,656
Registered: ‎04-25-2011
Santander Repossession Removal, 21 point gain!

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

 

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Regular Contributor
rescueman451
Posts: 148
Registered: ‎07-09-2011
Re: Santander Repossession Removal, 21 point gain!

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?


Starting Score: 547
Current Score: 632 EX, 592 TU, 580 EQ (Lender Pulled 9/8/11)
Goal Score: 620


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Regular Contributor
veggs2000
Posts: 172
Registered: ‎07-06-2011
Re: Santander Repossession Removal, 21 point gain!

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!


Starting Score: EQ: 540 TU: 606 EX: 605 (all from lender on 7/26/11)
Current Score: EQ: 601 TU: 648 EX: 642 (from lender on 8/4/11)
Closed on our home on 8/31/11!!!!
Goal Score: 620-650 to start

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Valued Contributor
rckstrscott
Posts: 2,656
Registered: ‎04-25-2011
Re: Santander Repossession Removal, 21 point gain!

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?



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.

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Regular Contributor
rescueman451
Posts: 148
Registered: ‎07-09-2011
Re: Santander Repossession Removal, 21 point gain!

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.


Starting Score: 547
Current Score: 632 EX, 592 TU, 580 EQ (Lender Pulled 9/8/11)
Goal Score: 620


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Established Member
RustyRico
Posts: 18
Registered: ‎10-20-2011
Re: Santander Repossession Removal, 21 point gain!

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

Valued Contributor
rckstrscott
Posts: 2,656
Registered: ‎04-25-2011
Re: Santander Repossession Removal, 21 point gain!

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

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Contributor
diabla
Posts: 230
Registered: ‎10-01-2012
Re: Santander Repossession Removal, 21 point gain!

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!

Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
Re: Santander Repossession Removal, 21 point gain!

Congrats

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
Re: Santander Repossession Removal, 21 point gain!
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) :smileyhappy:-
STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720