Defaulted on Loan

[ashdown1967]

Hello,

I defaulted on a loan almost five years ago.  I need to get this account in good standing on my credit report because I would like to buy a house.   I can't just pay it in full it is $5,500.  Does anyone know if Pioneer loans have a rehabilitation program,Or Should I try and settle it.              

Thanks in advance for your anwsers                         

[llecs]

Do you know if SOL expired? Save up the $5500 as fast as possible (you can always settle).

[ashdown1967]

Hello,

Yes the SOL has expired.

Thanks

[llecs]

You probably can't get it in good standing if charged-off. I'd send PFDs with the settlement amount.

[ashdown1967]

Okay thank you.

[Shogun]

With the account being past the SOL they may be more likely to work something out with you.  They get paid something and you get your CR cleaned up a little.  It's a win/win.