cancel
Showing results for 
Search instead for 
Did you mean: 

Has a co-signer on a car loan in NYC

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Member

Has a co-signer on a car loan in NYC

In 2008, I had a friend co-sgn on a car loan.  The ecomony tanked and I made several late payments.  The car was paid off FULLY in 2014.  No repo or bankruptcy charged.  Fast forward, my friend just got turned down to rent an apartment based on the car loans late payments.  Again, this loan has been paid off for 5 years now.  Any advice on how I can help my friend fix her credit report because I feel terrrible.  

Message 1 of 4
3 REPLIES 3
Valued Contributor

Re: Has a co-signer on a car loan in NYC

She can write the creditor asking for a Goodwill deletion of the late payments on her credit report, explaining that it was to help a friend and also that the late payments occurred as of the strains of the economy at that time, etc.

 

They may be more willing to delete with the rest of the payments having been made and the car being paid off in full.

 

If the request is denied, she can continue sending them (which is known as the saturation technique.)

 

Unfortunately this fix may take some time to get worked out. Not sure what her financial situation is now, but you can often get around these denials in NYC by throwing more money at the problem. I've had friends with completely trashed credit rent apartments here by paying 6 or 12 months up front and friends with more minor blemishes getting through by putting more of a security deposit down etc.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder AMEX/Citi Costco Visa - $96k total revolving
EQ/EX/TU: FICO 8's November 2019: 696/679/668, 14% utilization, AZE2 (w/ those 2 cards reporting 30% util), INQ's: 4/2/1
Message 2 of 4
Member

Re: Has a co-signer on a car loan in NYC

Thank you.  I appreciate the quick reply.  Is there a sample letter available that can be shared.  

Message 3 of 4
Valued Contributor

Re: Has a co-signer on a car loan in NYC

I think there may be some floating around the Rebuilding forums here, but also found some doing a Google search for Goodwill Deletion Letter.

 

Good luck!

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder AMEX/Citi Costco Visa - $96k total revolving
EQ/EX/TU: FICO 8's November 2019: 696/679/668, 14% utilization, AZE2 (w/ those 2 cards reporting 30% util), INQ's: 4/2/1
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.