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Good evening,
My auto loan was charged off in 2018 with Santandar. I owed somewhere around 1100 dollars but it wasn't in principle or interest but fees that accrued. I recently called and inquired about the title and I was told that my account was satisfied after the charge off and they sent me the title to the car this week. The issue is that the charge off is still showing on my credit report with a balance. Can I send a dispute to the CRAs and ask to have the information updated or removed?
How was the debt ultimately "satisfied?"
Did they determine that the asserted debt was in fact erroneous, and thus there was no remaining debt, or did they voluntarily cancel the remaining debt?
Did they issue a 1099c?
I believe they did forgive the debt. I checked my reports last night after posting here and it is updated as closed and paid.
@olive_oyl wrote:I believe they did forgive the debt. I checked my reports last night after posting here and it is updated as closed and paid.
Based on this the reporting of the CO as paid off would be valid, it did happen and its a factual record of such. The proper way to go after getting it removed would be through a goodwill request to the reporting creditor.