Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Report
Profile Image

Question By

61 Contributions
189 People Helped
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?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.