I am going to try to keep this short. So Im in the process of rebuilding my credit and a big negative I have on my history is a reposession i had about 3 years ago. I cosigned for my brother but was put as the primary when i asked specifically that i didnt want to be. Fast forward a couple months and i get a call from toyota that they are looking for vehicle. Well vehicle got repo'd and about three months later they contact me about paying the difference on the loan amount. I paid it off and have no balnace on the account as of current.
This was handled and paid in full a couple years ago. Now my question is I called toyota today and ask them to mail me a paid in full letter and info on how i get the derogtory payment taken off the account. they gave me the info to send letter.
Now my question is do i ask to try to get account removed or just all the negatives(90 days)? Has anyone ever sent one to Toyota motor financial and how did it go. What i plan on sendign to them is a copy of paid in full letter, a copy of what is gettign reported through them on my report and my letter. also i need advice on what i should write in my letter?
Fico 8 EQ 673 TU 690 EX 677 (06-16-2019) WF Platinum : 1300 CL (0% uti) Best Buy : 1400 CL (0% uti) Discover IT : 2000 CL (19% uti) AmEx EveryDay 1000 CL (75% uti) Inq. EQ - 2 TU - 4 EX - 8
I apologize that there hasn't been a reply to you on this. It wasn't intentional by anyone here on the forums. I would say if they can delete ALL of the lates, that would be best. Then, it would stay on your report and be a positive. However, if all they'll do is remove the whole trade line that is a win too! Anything to get the derogs that are reporting off. They have a serious effect on your scores.
In writing a letter, just explain the situation. No need to lie. I personally would tell them you were trying to help your brother and it went bad. Remind them how you did satisfy the remaining debt. Be nice. Also understand, it may take multiple efforts. There are no guarantees, but it is definitely worth the effort to clean up your report.