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Re-Aging Santander account to make it work for me???


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Ok...ok don't laugh at me too hard.  I know it sounds crazy but IF....I could pull this off and of course potential ramifications come into play; so let me have it to keep me focused.




I have a Santander account at $1800 that was written off and sold to NCB.  Both are not scheduled to fall off my credit reports until mid year 2020.  The car, well for all argument sake, will run and has a great deal of sentimental value to me (and my daughter).  Yes, I know it is a piece of metal that can be replaced. MarvBear has been helping me over in the Automotive section regarding some of the things I was working on getting beater etc.


This is my oldest account (over 12 years), so helping my AAOA(correct???), as all my positive tradelines have been created just this year. 


So, here is where all the IF's come into play  (insert some of the Keven Hart's Ok...OKKKKKay....Okkayyyy's in here now lmao).


If, the Florida motor vehicle information confirming the title lien is still in Santanders name(again from other post in Automotive); and I want to get the title thus going through Santander ultimately at some point.  If I wait till both Santander and NCB fall off my report, I will still want the title and will have to go through this with Santander at some point, correct to get a title?


So, I am thinking "IF" I contact Santander and work this deal out---(yes I know good luck)


-We agree to a dollar amount of $900.00 (total amount)

-This will get NCB removed (part of the agreement-after my first payment is received)

-The even bigger IF...request they re-age it and remove all the negative payments (stop laughing now)

-even if they don't remove the negative payments, I will end up paying $900.00 and get the title

-understanding if they make this as X-amount of payments that I agree to(thus the re-aging) help to get this as paid in full as I do want to purchase a home in the near future--next 1-2 years.

-definitely getting this in writing from them


I understand this re-aging will put me on the hook for up to another long 7 years of restarting the clock if I sign an agreement with them.  I remember some of the situation, where I thought I owed 1 last payment and then all this interest from "no where" came out along with my decline in body/mind unable to work scenario back then...it was a hot mess.


At the end of the day, if they said max amount you owe us is $1800(no further interest will accrue--flat out $1800), we will accept payments on this and update it on your credit report (I would have to have the removal of the baddies), with the REMOVAL OF NCB (after first payment or something) and then I get the title; I would do it.


I am looking at, I did owe them something and I want the title.  Ultimately trying to turn a re-aging into something positive on my oldest AAOA and get the NCB tradeline removed off my credit report to boot.


Trying to turn the lemon to lemonade.


Ok....smack me around and keep me focused please.




Edited by fixinmycrediks
lol i before e...except after c...something like that. spelling
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7 minutes ago, MarvBear said:

What is the date the account went delinquent and never became current again.  Forgive me If I have already asked.



So I am past the Florida SOL 4 years for contract, past the 5 years of repossession, and no court order-safe from that part if I am understanding the SOL info correctly.  


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Well...that was the great hope....understanding it may not be realistic.


I am hoping/wondering since Santander has the title/lien that IF I contacted Santander and could make the "re-aging" into somewhat of a positive for me that I could potentially get some benefits from the situation of exposing myself to the re-aging scenario.


I am thinking at a minimum, even if they don't remove all the derogatory late baddies that they would pull the account back from NCB since I would be paying them directly.  Removing NCB would be a partial win for me as it would remove a negative tradeline off my credit report. Then ultimately once paid in full I would get the title from them/Santander.

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First of all,   I'm not trying to burst your bubble, please understand that.   You are trying to pull off a series of negotiation tactics with 2 different data providers and the state of Florida's title system simultaneously.


I can positively guarantee that will not happen, so the best thing to do in my opinion would be to prioritize your goals.

I can understand what you want to do totally.  but you need to go step by step.


Do you want the title to the older vehicle more than you want anything else? ( that will be a formidable accomplishment in an of itself)  Florida started ELT title work in 2001, it became mandatory in January 2013. So you need to find out what kind of title exists on the older vehicle, is it paper, or is it electronic?

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MarvBear, that is exactly what I need!!!  I don't want false air/hope in my bubble so your info or others will keep me grounded and is much appreciated!!!


I will confirm this upcoming week at a dealership exactly what is stated in the ELT system. I had looked up the information online from the Florida Department of Highway and Safety's website based on my vin# and found out they are showing the TranSouth Financial Corp info.  The vehicle information check shows "paper title with lien" on Florida Dept's website.


My goals-

-Clearing up baddies on my credit reports

-Have added 5 positive tradelines within past approx 6 months (let them grow on time payments)

-In approx 8 months I can have all but the 2 baddies off my credit report(Santander and NCB)


-Just under 2 years both Santander and NCB falls off credit reports

-End goal home mortgage in 2 years (sooner better if possible VA loan)


I can live without the title.  I would like to get it resolved.



-Want title to car as above item will still come back to haunt me regarding title



I can live without the title.  Just trying to clear it up with a little mix of combing negotiating tactics if at all possible.


So, IF Santander (by default of transition of ownership from TranSouth) has the lien in the ELT system; I am wondering the options pros/cons of opening up the re-aging process as I have indicated.  I definitely understand I may not get all what I am asking for if I contact Santander.  If I pay Santander the balance and get the title then I can dispute the NCB off credit report.


If I call Santander (once confirming they are the lien holder in ELT) and agree to pay X, I am just wondering if I missed any other possible scenarios of the re-aging process that can impact me?







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Well first of all if there exists a paper title then you need a wet-ink signed lien release from TransSouth or it's successors. And knowing how incompetent Santander is they won't have a soul who knows how to look up something that old and would be authorized to release the lien.

The negotiating of the chargeoff amount will a separate task.

The negotiating with two individual data furnishers is another task.

Sent from my SM-P580 using Tapatalk

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Re-aging means you have agreed to something that restarts the SOL. A settlement with a lump sum payment will not do that; that is what you want, not a new coupon book. They probably wouldn't go for that anyway considering your track record. Most lenders don't.


Your only real advantage is that they cannot successfully sue you, and they obviously don't want the car back. They have a debt sitting on their books, and any money they get against it is a gift.


List your conditions in a simple letter. Make sure you call it a settlement negotiation, not an admission of liability or an offer to pay. Read the statutes in your state and find out exactly what can trigger the SOL. It might even be a good idea to hire a lawyer for a few bucks and have them write this for you.

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If they charged it off and sold it to NCB, you ALSO now have to persuade Santander to take the extraordinary step of re-purchasing an individual account.  The likelihood of that is about slim and none, and slim was last seen saddling the horse to head out of town...

Edited by centex
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Thank you ALL for keeping me focused and avoid the pitfalls of my brainstorm (drizzle storm-lol)


I did call the Tax Collector office today and they were able to verify that TranSouth was in fact what they had in the ELT system.  The Rep also told me that it was a paper title, not electronic.



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