topic Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance in Rebuilding Your Credit

Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

Anonymous — Mon, 27 Jan 2020 15:50:56 GMT

Background: The account went delinquent in April of 2016. I contacted Bridgecrest when they notified me that the vehicle would be repossessed and apologized, explained the situation, and wrote them a check for the entire remaining balance that went into the mail the next day. They called off the repo while on the phone and sent me the title once they received the check.

The account is being reported as unpaid balance charged off, $0 balance, but it's showing almost an entire year of CO. From 05/2016 to 03/2017 is showing CO. It shows last date paid as 04/18/2017 even tho the check was written in 2016.

I called and talked to their credit department and the person I talked to kept repeating that "Bridgecrest reports information accurately and will not change any information that is being reported." I asked if we had any options and also if they could explain why it's showing as being charged off for nearly a year and they repeated the above twice more. I then mentioned another account of mine which was showing as being settled, despite originally being a CO and asked if they were able to update their information as such why couldn't Bridgecrest and I was told, "We are not that company, we are Bridgecrest".

Argh.

1) Is this being reported accurately? I don't understand the 11 months of CO but maybe that's normal. However, "Unpaid balance" does seem incorrect to me as the balance was paid.

2) Has anyone had luck with GW Bridgecrest in the past year or two, and what method did you take? Talking to customer service, sending a letter etc?

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

FireMedic1 — Mon, 27 Jan 2020 16:29:47 GMT

Before they called and threatened to repo it. How many months was it late until they made their move. Yes the account could have been charged off before the repo man was called. Cant undue that part. It was a deliquent account with a balance and that will stick. CO's and repo's I've never seen a GW success.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

Anonymous — Mon, 27 Jan 2020 16:48:03 GMT

@FireMedic1 wrote:
Before they called and threatened to repo it. How many months was it late until they made their move. Yes the account could have been charged off before the repo man was called. Cant undue that part. It was a deliquent account with a balance and that will stick. CO's and repo's I've never seen a GW success.

3. it has a 30 60 90 then CO

There must be some success. The car I left with my ex-wife which I was joint on was showing numerous 30's (14), 60's (5), 90's (1), an RPO and a single CO on my previous TU pull and now it's showing green OKs under everything along with a settled for less. Meanwhile mine that only went late the once (albeit for long enough to go into repo) is showing unpaid balance and 10 months of CO's.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

FireMedic1 — Mon, 27 Jan 2020 18:28:45 GMT

No 2 people will have the same results every time. Just because 1 got favorble results doesnt mean someone else will get the same treatment. Even if its the same lender. No 2 match. GW letters is your best way to try and get things done. But dont hold your breath. Lates and CO's combined dont fare well for deletion. Especially when there are major lates and CO's. Sorry.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

Anonymous — Mon, 27 Jan 2020 18:36:12 GMT

@FireMedic1 wrote:
No 2 people will have the same results every time. Just because 1 got favorble results doesnt mean someone else will get the same treatment. Even if its the same lender. No 2 match. GW letters is your best way to try and get things done. But dont hold your breath. Lates and CO's combined dont fare well for deletion. Especially when there are major lates and CO's. Sorry.

I don't have any misconceptions, they're two different companies. Considering her lates and CO's were exponentially worse it does give me some hope hah...

I'm getting distracted here tho, one of my main questions is whether or not it's being reported correctly.

I am sure I am just misunderstanding something but why are there 10 CO's from 05/16 to /03/2017? The CC I burned back then only shows one for the month they closed it. Also should it not say "Settled" since I paid off the balance?

Lastly and to reiterate, if anyone has any specific experience with Bridgecrest I'd like to ask who you contacted. Their website only has a contact form and 1-800, I'm going to keep googling but it can't hurt to ask here as well.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

FireMedic1 — Mon, 27 Jan 2020 19:15:13 GMT

If you settled yes it should say paid/chargeoff and $0 balance. A charge-off reporting monthly, with or without a balance, is having a negative impact on your FICO scores. It is legal for a creditor to update a charge-off account monthly from the date of first delinquency which is approximately 7.5 years.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

Anonymous — Mon, 27 Jan 2020 19:23:10 GMT

@FireMedic1 wrote:
If you settled yes it should say paid/chargeoff and $0 balance. A charge-off reporting monthly, with or without a balance, is having a negative impact on your FICO scores. It is legal for a creditor to update a charge-off account monthly from the date of first delinquency which is approximately 7.5 years.

First, thank you for your patience and attention to this thread, I appreciate it.

I will try calling them back tomorrow and disputing with them that it should show as paid, they confirmed over the phone today that it was paid (and the title was in my name and I can produce a copy of the check I'm sure). Should I open a dispute with the CRA at the same time?

I'm not completely following the last statement. To clarify, I paid this off the same month they charged it off, not a year later. So that should mean it's also incorrect reporting that they're showing a further 9 months of CO, doesn't it? Does it hurt my credit further that it shows ten months of CO vs one, or does it not make a difference?

The most important thing to me is that it shows as being paid, I'm trying to take care of my mistakes and right now, at least to me, that reads on my report like I burned them.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

FireMedic1 — Mon, 27 Jan 2020 23:23:04 GMT

Nope not like a burn. A charge off is just like a late as a negative reason.. The late will show for the 7 yrs. Same as a charge off. Main thing you want to see is that there is no balance reported. Now thats a disputable claim. Next important thing is the fall off date which would be 7 yrs from the last on time payment. The comment section will say CO until it falls off.

Re: Goodwill with Bridgecrest (Drivetime), reporting as unpaid balance

Anonymous — Tue, 28 Jan 2020 17:44:32 GMT

Update: I finally feel vindicated after talking to multiple other reps at Bridgecrest who all told me to go kick rocks. I reached a CSR today that actually listened to me and contacted their credit reporting department. They confirmed that the information is being reported incorrectly, that the account was paid in full, and that they will update that info asap.

It's still on my report for another two years tho, so again, if anyone has found any useful contacts outside of their 1-800 number to direct their GW efforts at, I am all ears! I plan to begin calling them again starting tomorrow to ask them directly where I can send such letters.