Americredit? Deletion? Settlement?

[CreditCrisis]

I know that one of the worst items on my credit is from Americredit financial. It reports as:

Balance: $6625
Status: Collection / Charge off
Past due: $583
High Balance: $14,566
Opened: 05/19/2006
Reported: 06/03/2009

30 days late: 5
60 days late: 1
90 days late: Experian shows 1 Equifax shows 17!!!!!

this account was a voluntary surrender but it doesnt say that anywhere (good thing or bad thing that it doesnt say?)

Also, the account has supposedly been sold to NCO but i have only received one notice from NCO back in like...January and they havent put squat on my credit. (Thank god for that!)

my question is, what the hell can i do about this account? i have disputed it everytime i dispute anything and it remains verified. i have sent americredit settlement offers time and time again.

any one have any suggestions?! it looks terrible!!!!! plus as long as they have an amount to collect, they are still pulling inquiries! often!!

please help!

[CreditCrisis]

can anyone offer some advice?

[jjgross]

Originally Posted by CreditCrisis

I know that one of the worst items on my credit is from Americredit financial. It reports as:

Balance: $6625
Status: Collection / Charge off
Past due: $583
High Balance: $14,566
Opened: 05/19/2006
Reported: 06/03/2009

30 days late: 5
60 days late: 1
90 days late: Experian shows 1 Equifax shows 17!!!!!

this account was a voluntary surrender but it doesnt say that anywhere (good thing or bad thing that it doesnt say?)

Also, the account has supposedly been sold to NCO but i have only received one notice from NCO back in like...January and they havent put squat on my credit. (Thank god for that!)

my question is, what the hell can i do about this account? i have disputed it everytime i dispute anything and it remains verified. i have sent americredit settlement offers time and time again.

any one have any suggestions?! it looks terrible!!!!! plus as long as they have an amount to collect, they are still pulling inquiries! often!!

please help!

Is this for an auto?

[CreditCrisis]

Yes it is for an auto.

[jjgross]

Originally Posted by CreditCrisis

Yes it is for an auto.

I'm not sure if they can report a past due,since you gave up the auto.Not sure though What did they do with the auto?If they sold it How much was it sold for,because if more then what you owe,You show be off the hook.They have to give you that info.

[CreditCrisis]

They sold the vehicle for something like $7500 which brought my "due balance" to around $5250. (i have the paperwork stating this) and have sent it to the CRA's but it still reports with the high $6k amount.

[jjgross]

Originally Posted by CreditCrisis

They sold the vehicle for something like $7500 which brought my "due balance" to around $5250. (i have the paperwork stating this) and have sent it to the CRA's but it still reports with the high $6k amount.

How much did you owe when you turned it in?How many payments did you make.And did they send you any papers after sale?

[improving]

hmmm.

my thoughts on this one are... IF this was a charge off / should they REALLY being showing a balance???? ( I don't think so! ) I could be wrong, but I think it worth a dispute to CRA's that there should be ZERO balance. (considering you gave this up - right? and IF you did - which it sounds like, how can they even continue to collect from you?? I don't think they can???)

I double checked my reports and I had something similar (but a loan that reported as charge off) - disputed it this way and it now does show $0 balance and as paid/closed. this also stated was d/c thru b/k, but I really think this can be disputed as mentioned above. (or worth a try!)

Maybe someone else can jump in that is more familiar with vehicles and how it is normally handled. I'm not sure, but still wanted to share!

[CreditCrisis]

to answer all questions:

We bought the car 05/2006 and surrendered it 02/2008. So we made a substantial amount of payments on it.

I have disputed this account as a million different inaccuracies.

help?!

[CreditCrisis]

I just got off the phone with AmeriCredit. They have my account again in house. The lady on the phone said that at this time she can offer me a settlement for 40% which is $2,815. She said in order to hold the account in house and this settlement amount, I need to make a payment of at least $25 in the next 30 days. No big deal. So I went on to ask if they would delete the account once they receive the settlement. She said no, it would be updated as “Pays as agreed”, which I don’t think is accurate. I went on to explain that I know that they have the capability to delete it, but asked if it was just their policy to not delete. She said yes, they do not delete once satisfied.

So here is my question:

Should I send a letter offering $2,500 and asking that the account be deleted once the amount is satisfied? I don’t really care that the paid collection will be on my report, what I do care about, is what it will do to my score. Will it go up more if its deleted or paid?

She went on to tell me “anytime you pay a collection on your credit, your credit shoots up”. I don’t know if that is correct either?

Can someone please chime in and help me with this situation?





I'm 32 points away from a 620 on my transunion and my husband is 66 points away from a 620 on his equifax. We're ready to start getting the pre qual going!!