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[Game Plan]

Hello All, I am attempted to repair my credit and am hoping to get some good advise here. I am going to be separating my question into four different threads because it will make getting replies easier. My credit score range from 531 to 590 so I have a lot of work to do.

Thread Two:

I also have 6 car loans on my credit report. I don’t owe a balance on any of them. Two of them were settled for less that the full balance and the others were paid in full. They all show late payments. Again, the only entries on my credit report are from the original creditor since they were never turned over to collections.

Of the two that were settled one is about 5 year old so I am willing to just let it drop off my report in a couple of years. The second was settled just last month (Aug 2010). They have updated my credit report from “charged off” to “settled”. The company has agreed to change the status to “Paid in Full” if I send the send them the remaining $600. When I offered to pay the remaining $600 in order for them to delete the trade line I was told that they could not legally do that.

I know that this would not be illegal but the guy on the phone seemed convinced. What is my best option to try and convinced them to remove this item. I don’t legally owe them anything since I completed the settlement agreement but would be more than happy to pay the $600 if they would agree to remove it from my credit report.

Also, what is the best method to challenge the late payment on the accounts that have already been paid in full?

[chane]

Actually, since it was settled it would be illegal for them to take money from you, I believe.

On the accounts that are showing up as negative, you want them removed. The accounts that are positive, but just have some late payments, you just want the late payments to be removed so that you can keep the positive history. If there are too many lates, it's probably just best to get it completely removed.