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Negotiating a remaining debt after auto repo

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My apologies if I'm posting this in the wrong place, mods please re-direct me if so.


I've just begun my journey in cleaning up our credit.  I've been reading the newbie board and took the first steps: opted out, removed old/incorrect addresses.  Now I'm moving on to the negative things on there. I have two auto repos:


- One was sold at auction, the sale covered the remaining balance of the loan, and we even received a refund(weird, right?).  Problem is, the line on our credit shows autorepo and the balance before auction - so it looks like a balance is still being reported on our credit. Auction was last December.


- The 2nd repo was sold at auction and did not cover the remaining loan in full.  Santander bank came after us for the remaining balance after the sale, eventually offering a settlement at thousands of dollars below the remaining balance and sadly at the time we could not afford the payoff.  This debt has now been sold to a collector that's back to the original balance.  They are now adding an additional negative ding on our reports showing this as a collection as well. They are threatening that if I do not settle with them that this will go to a judgement. 


Is there anyone with advice on:

removing these off our reports

settling with the collector for little to nothing (this car sold for twice the kelly blue book value, they got their money back as far as I'm concerned)


I'm grateful for any advice you guys have.




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You're in the right spot.  While you wait for some feedback, I would do a search, as I am sure someone has had similar issues in the past.


I am not an expert in these areas, but some general advice would be to make sure you order hard copies of your reports so you can see exactly what is reporting.  The first one sounds like a reporting error and can likely be disputed.  The second one is a bit more tricky dealing with collectors.  If you search the 1-2 method, there is a method to getting these things removed, however be sure to read it carefully as you don't want any unintended consequences.


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