I Need Advice on How to Clean my Credit Up for Possible FHA Mortgage Loan

[Anonymous]

Yes, the balance left is $19,457 and I have been calling Bridgecrest and they do not offer settlements or discounts on cars purchased through Carvana. Thats the first time I have ever heard that before. Should I do anything else to get this resolved? This is my last account with a balance except for Acceptance Now which I will wait to do an Early Exclusion with TU in Dec/2020 and Ex on Jan 2021. Also,  don't see where it states repossesion of the vehicle just charge off. Would that be listed on my credit report? Thanks for all your help 

[Anonymous]

I wish it was significantly paid off, the balance owed is $19,457 and they won't budge on a settlement, Bridgecrest keep saying since the car was purchased throught Carvana they don't offer settlements or discounts so I would have to fork out the full balance which is a total nitghtmare. Would really love to settle it right now for half of the balance but don't know what else to do. Any suggestion you might have would be very helpful!

[Anonymous]

how much was the car originally? 20k? That isnt too bad for a MB!

I am thinking: you got a MB for 25-30k recently, like last 6-12 mos. No car ins. Totaled. Gave them the car back and at auction, if a fairly desireable or truly easily salvageable MB, it could fetch maybe 5-10k to make the buyer a nice profit after repairs. Now you are stuck with the auction fees and remaining car loan balance since there was no insurance to cover *any* of it.

[Anonymous]

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@Anonymous wrote:

I wish it was significantly paid off, the balance owed is $19,457 and they won't budge on a settlement, Bridgecrest keep saying since the car was purchased throught Carvana they don't offer settlements or discounts so I would have to fork out the full balance which is a total nitghtmare. Would really love to settle it right now for half of the balance but don't know what else to do. Any suggestion you might have would be very helpful!

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i truly hate to say this because I was anti-insurance for decades lol i am now in NH, the land of no car insurance requirement and I actually have it. So sad!

Point is. You had no car ins. There is no deals. Someone has to pay for the car. If you say the car was not significantly paid off and 19k is the balance, they will want their money. Did you just get the car and total it?

Regardless, did they auction it is the main factor. They should have and then deducted the balance from what you owe. I would definitely be contacting them if they have not auctioned it (which you absolutely can auction totaled cars) or have not deducted any monies from you total balance.

[Anonymous]

No I purchased the car in Jan 2017 and the car accident was in Dec 2018 so almost two years. I have to call about the balance and see how much they were able to recoup from the sale of the vehicle. The accident damaged the entire front of the vehicle and was definitely classified as totaled so I'm not sure if they were able to get any money at all from the sale of it. I guess I have to just bite the bullet and continue to pay. It wasn't sold to a collection agency which I was hoping to get some sort of negotiation or settlement.  

[FireMedic1]

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@Anonymous wrote:

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@Anonymous wrote:

I wish it was significantly paid off, the balance owed is $19,457 and they won't budge on a settlement, Bridgecrest keep saying since the car was purchased throught Carvana they don't offer settlements or discounts so I would have to fork out the full balance which is a total nitghtmare. Would really love to settle it right now for half of the balance but don't know what else to do. Any suggestion you might have would be very helpful!

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i truly hate to say this because I was anti-insurance for decades lol i am now in NH, the land of no car insurance requirement and I actually have it. So sad!

Point is. You had no car ins. There is no deals. Someone has to pay for the car. If you say the car was not significantly paid off and 19k is the balance, they will want their money. Did you just get the car and total it?

Regardless, did they auction it is the main factor. They should have and then deducted the balance from what you owe. I would definitely be contacting them if they have not auctioned it (which you absolutely can auction totaled cars) or have not deducted any monies from you total balance.

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Isnt this what I said earlier. There are body shop that can fix up writen off totaled cards thjat are just as good as before  a wreck..............

[Anonymous]

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@FireMedic1 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I wish it was significantly paid off, the balance owed is $19,457 and they won't budge on a settlement, Bridgecrest keep saying since the car was purchased throught Carvana they don't offer settlements or discounts so I would have to fork out the full balance which is a total nitghtmare. Would really love to settle it right now for half of the balance but don't know what else to do. Any suggestion you might have would be very helpful!

---

i truly hate to say this because I was anti-insurance for decades lol i am now in NH, the land of no car insurance requirement and I actually have it. So sad!

Point is. You had no car ins. There is no deals. Someone has to pay for the car. If you say the car was not significantly paid off and 19k is the balance, they will want their money. Did you just get the car and total it?

Regardless, did they auction it is the main factor. They should have and then deducted the balance from what you owe. I would definitely be contacting them if they have not auctioned it (which you absolutely can auction totaled cars) or have not deducted any monies from you total balance.

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Isnt this what I said earlier. There are body shop that can fix up writen off totaled cards thjat are just as good as before  a wreck..............

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I agree 1000%! My SO is a master automotive tech and I can say for a fact you are right. Especially a MB, someone would snap that up to fix a front end no problem.

They definitely should have sold it and tou should have some proceeds.

The only point I was making was with a 19k balance and when it was bought/wrecked is to determine if it seemed like some proceeds knocked down the balance any.

Edit: My SO also said to try and find the paperwork and see if there was any type of "loan insurance", not GAP insurance, but loan insurance. There may be stipulations, but it is for the banks to recoup the money for perhaps a total loss on their end. Maybe a deal could be struck if that was part of the terms.