Update Santander (Deleted) 550 Million Settlement with Deletion of loans possible

[Anonymous]

Just announced on the news that Santander 550 Million Settlement with waive removal of loans are possible, does snyone have any more information of how yo use this data to get them removed from credit report for auto loans? Should we contact them or dispute them to the bureau? They had terrible practices that defaulted my dads loan and that is the only derogatory he has where they sold the repo car never sent us the invoice for the difference and left the 20,000 charge off listed. Any more information on this news is appreciated.

Thanks

[peter1974]

Following! 

Can you explain more on what the waive removal means?

I have a Santander loan that was charged-off a few years ago. I disputed it on all three bureaus and miraculously it was deleted on Experian. It's still on my EQ and TU, so I'm very interested in this.

Edited to add: I just did a "re-dispute" with EQ over the weekend so I'll keep you posted on the outcome.

[peter1974]

Found an article on it:

https://www.law.com/ctlawtribune/2020/05/20/santander-reaches-550m-settlement-over-deceptive-auto-lo...

[Red1Blue]

I would be curious to see what you find out.

[Anonymous]

I meant deletion by saying removal

[Anonymous]

I just read this the other day about them

Santander Consumer USA will pay $65 million to states and forgive hundreds of millions more in consumer debt as part of a settlement with a group of attorneys general over practices in its subprime auto lending business.

The attorneys general, representing 33 states and the District of Columbia, said the Dallas-based lender had exposed borrowers to unnecessarily risky loans with a high chance of default. In addition to paying $65 million in restitution, Santander Consumer has also agreed to forgive nearly $500 million in car loan debt to borrower nationwide.

https://www.americanbanker.com/news/santander-consumer-reaches-550m-settlement-with-state-ags

[peter1974]

---

@Anonymous wrote:

I meant deletion by saying removal

---

I wonder if this just applies to customers in states that are part of the lawsuit or all customers.

This would do wonders for my scores if I can get them removed.

[quairosun]

I live in NC and they were part of the settlement. I had a car loan with Santander that went belly up and the last day of activity was 2014. I called the rention office for Santander and talked to a nice lady about the negative tradelines on all three reports. She gave me the usual we cannot remove it speech. I then told her about the settlement which she was well aware. She then said to call my state attorney general's office which I did.  The next person I talked to immediately gave me a link to the administrator who is handling all of this including removal of any negatives from your tradeline. I hope it is ok to give this link:

http://www.santandermultistateagsettlement.com

Hope this helps some of you. I will update when I see how it goes.

[Anonymous]

Thanks for posting the link. That is the correct link, it is not live for claims just yet. Need to keep checking until it is. The attorney general's office will also start sending settlement cards/letters soon, I was told; Lookmout for those as well.

[peter1974]

---

@quairosun wrote:

I live in NC and they were part of the settlement. I had a car loan with Santander that went bell up and the last day of activity was 2014. I called the rention office for santander and talked to a nice lady about the negative tradelines on all three reports. She gave me the usual we cannot remove it speech. I then told her about the settlement which she was well aware. She then said to call my stae attorney general's office which I did.  The next person I talked to immediately gave me a link to the administrator who is handling all of this including removal of any negatives from your tradeline. I hope it is ok to give this link:

http://www.santandermultistateagsettlement.com

Hope this helps some of you. I will update when I see how it goes.

---

So I wonder if people who are in states not in the settlement have any leverage to get them removed? I'm in TX.