How can I get rid of a repo on my CR?

[wpxo]

Hi Forum! I am dealing with a stubborn company called Kensington Financial. I'd like to get this blemish off my CR, but I don't know how to handle it. I voluntarily turned in my car a few years ago when I couldn't afford the payment, so now it is listed on my CR as 0 balance, REPOSSESSION. Not sure what to do......Thanks in advance for any advice!! 

[DaBears]

PFD is when you want to pay the entire bal off for a CA to remove the collection from your credit reports

[wpxo]

DaBears, thanks for your comment. I want to know whether I can PFD/ "pay for delete" with this kind of CR mark? Is there any way that the CA will negotiate to delete this from my CR? Have you heard of anything like this? Thanks again!

[DaBears]

Um, I just gave you the answer in my post. PFD is paying the entire amount to have them delete their tradeline if they wish to do so. Is the debt still in your state SOL?

[RobertEG]

It depends on why it is currently showing a $0 balance by the OC.

They must report $0 balance when either the debt has been satisfied, or they have sold it.

In the final accounting with the OC, after they disposed of the vehicle, if there was a net balance remaining, there would still be a reportable debt.

What was the final accounting of the vehicle? 

Is Kensington the OC, or a debt collector?

If they are a debt collector, and the OC reported a $0 balance, that indicates that the debt collector now owns the debt.  If so, you can no longer pay the OC, PFD or otherwise.

PFD could be offered to the debt collector, either to prevent them from reporting, or to delete any existing reporting.

[wpxo]

RobertEG  Kensington is the OC and they are reporting $0 because the car was resold and paid off after being repoed.

DaBears, I'm not certain about my SOL, but I am researching that now.

[RobertEG]

Then apparantly, in the final accounting, they recouped the debt, and thus there is no longer a remaining debt?

In that sceanario, no, you could not use a PFD, as there is not debt to be paid.

There would be no issue of SOL, as there would be no debt to sue upon.

You would request their GW deletion.

[wpxo]

Ok, I'll give the GW request for deletion a try. Thanks for helping me to make sense of my predicament.

[wpxo]

No response to my GW. Guess I'll patiently wait. Thanks again

[denver133]

I have sent over two dozen GWs over the past 9 months to the same company.  Resend!  Resend!  Resend!   As many on here have said, it make take 100 GW responses of NO but it only takes one YES.  

Send them another GW letter and change it up a little.  Say you knew that you could not afford the payment and instead of having Kinsington come after you, you worked with them to make things easy.