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Negotiating payment of a Repossesion
I am wondering if anyone has successfully negotiated a "charge off" repossession of a car loan to "paid as agreed" or something less derogatory than a charge off? I am in the process of getting ready to attempt to negotiate a payment plan to get rid of this debt and would like any tips or pointers. I cannot pay a lump sum as it was repossessed due to the loss of a high paying job and now we are down to living on $800-$1000 a month. Is there any way to get them to change the "charge off" on my report in negotiating payment? Any help would be appreciated. I should have known better as the interest on the original loan was 24.3% but when your expecting a child and need to be able to get to and from the DR you cave. Has any one negotiated a similar situation with a good outcome?

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