topic Re: Santander Auto Loan Purchased by NCB Management in Rebuilding Your Credit

Santander Auto Loan Purchased by NCB Management

Anonymous — Thu, 24 Sep 2020 21:58:30 GMT

My credit report shows Santander as Charged Off. I Then have NCB Management showing as an Active Collection in the amount of $11,287.00. NCB is willing to take a $4,000.00 payment and they say the will delete it. I asked for it in writing and they say they can no longer put it in writing as of about a year ago because their legal department did not allow it. They shay they will show the balance at $0 for 1 reposting cycle and it should be deleted the next reporting cycle.

1. Should I trust them?

2. Will this only collection on my report help my credit significantly? I am not looking to do anything with my credit right now but I would like to purchase a new car in about a year and not have 12%+ interest rates.

3. Will the Santander charge off still show and affect me negatively?

My current scores are EX: 640; TU: 596; EQ:614

Thanks in advance for any help.

Re: Santander Auto Loan Purchased by NCB Management

Anonymous — Fri, 25 Sep 2020 17:38:56 GMT

If you need any more info to offer some help, please let me know.

Thanks!

Re: Santander Auto Loan Purchased by NCB Management

dunn2500 — Fri, 25 Sep 2020 17:42:13 GMT

didnt they just get into a bunch of crap over auto loans?....they had to pay millions

nothing in writing no money......what can you do if they dont do what they say....you have to have something for recourse

Re: Santander Auto Loan Purchased by NCB Management

Anonymous — Fri, 25 Sep 2020 18:15:03 GMT

I tried and tried and they just wont do it. They say they are not allowed to per their legal department because they can submit the deletion, but if the agency doesnt do it fo any reason, they are liable. I've read on here a few people trusted and they went ahead a deleted.

I really want to know if this will bump my credit even if santander stays on there showing a charge off.

Re: Santander Auto Loan Purchased by NCB Management

Anonymous — Fri, 25 Sep 2020 18:40:40 GMT

@dunn2500 wrote:
didnt they just get into a bunch of crap over auto loans?....they had to pay millions

nothing in writing no money......what can you do if they dont do what they say....you have to have something for recourse

Most CA will not put it in writing, so at some point you have to choose whether or not you want it off your credit reports and take the gamble.

regardless, it is still a verbal agreement. Look at recording laws in your state. I would just tell them they are being recorded and that this is a verbal agreement, worst case scenario.

NCB is known to PFD, I had an account with them and did not push for getting the PFD in wiritng issue and they held their word. Many others have had similar resuots. I would take the track record and move forward with it.

But before you do, Santander has had a class action law suit against them and many states are included. There is a website for it and I believe it even includes removing the derog from your CRs and possibly forgiving the balance. I qould really look into that first before paying.