Back in 2019 I bought a motorcycle and due to the pandemic I was able to keep up with the payments and the loan defaulted. The amount due was around 18k and I just got an offer in the mail to settle thebloan for $12.6. I'm debating on taking this offer but not sure how I should do this... I would love to pay and have it fully removed from my report, but in their offer letter it states that they will Inform the CBs that they received a settlement and update the profile.
what should I do here? Any advice? FYI the lean holder is HDFS.
Welcome. Need the Lenders Name. Was it repoed? Was it sold at auction and you owe the balance of what was remaining that didnt pay it off? Need a few more details.
Also you should take in to account the statute of limitations, to understand your odds of being sued for this debt.