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I filed BK13 back in 2010. DriveTime was included in that. I had the BK dismissed in 2011 because I couldn't maintain the high payments. Since then, they had been reporting an outstanding balance of $8,494.37, even though I originally owed $15K+ on the car that I voluntarily surrendered right before the BK13. This leads me to believe they re-sold the car and this is the outstanding balance. I never actually got any paperwork saying they did that, though.
In January 2013 DriveTime sent me a letter offering to settle with me for 10% of the $8,494.37 balance, so they were willing to take $849.44, and they would update the CRA's to reflect my account as "settled" (their word). By this time I had just purchased a new car a month before, so I am assuming they must have realized the likelihood of me paying them was slim and none. I never responded to the settlement offer.
Now I am looking at it again and thinking they may be willing to do a PFD now, if they were willing to settle for so little back then. My thought is that they have probably all but written this off and they aren't expecting anything from me, so they would be more amenable to a PFD to collect on an account that they had written off.
My questions are:
1. Does my rationale make sense, or am I dreaming? I know DriveTime is supposed to notoriously difficult to deal with.
2. Has anyone out there had any success in getting DriveTime to do a PFD? If so, how did you get them to do it?
Any help would be greatly appreciated because I'm in rebuilding mode and would love to get them off my credit, or at least have them reflect more positively.
I am new to this forum. I need some help, I've had Lexington Law for a couple months and seen no improvements on my charge offs...Time to take matters in my own hands.
I have 3 charge offs that are less than $1000 and my credit score is about a 530. People with car repossessions and bankruptcies probably have a higher score than me. Why are three little things destroying my score??????
I need help on what to do about the charge offs and also if I should get a secured Capital One credit card in the mean time to help build my credit back up.
I appreciate your help!
I've been working on my credit and so far Transunion has been the best at deleting items the fastest.
I just received a letter from Calvary portfolio offeing a settlement because they legally can not sue me anymore. My account was orginally with BOA and the balance is about $850 DOFF: 11/2009
I know that this account is the reason i was denied credit with Barclays ( receive the denial yesterday) and would really like to have it removed.
Any thoughts? Need more info?
By the way Calvary was sold the account back in 2012.
If this is removed i will have 3 new medical bills left (which I am desperatley fighting with my insurance agency)
FICO TU 634