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pepinusmc

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I owe $7,000 on a auto loan from US Bank. The car was repossessed in 2011. Should I wait?
I told US Bank I would like to make a settlement but that I wanted it to be deleted from my credit report but the person on the phone said US Bank won't do it. My question is should I just wait until 2018 which is when the statue of limitations should be up as the vehicle was repossessed in 2011? From the research I have done it will drop my credit score by doing a settlement. So should I do a settlement without having it deleted or nicely demand to have it deleted from my credit report and tell the I won't pay anything unless they delete it? Thanks in advance for any advice!!

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I think that you should QUIT contacting them. I do not think that U.S. Bank will do a "pay for delete agreement" as those are usually only ever attainable through debt collectors or for medical bills. Are you confusing the "seven year reporting time period" with the "statute of limitations" or is the "statute of limitations" in your state seven years? There is a big difference. In most states, the "statute of limitations" has already expired. I advise that you do some reading on all of this and STOP contacting US Bank. You will probably be best to let this age off of your reports.

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I left a reply to your question, but the spam filter flagged it, because it doesn't work correctly. Check back tomorrow to see if they approve it. If not, join the myfico forums as they work much better and you will find more members there answering questions.

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