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The Derogatory Account that Wont Go AWAY!!! 11+ Yrs & Counting...
In 2002, I opened an auto finance account with Santandar... the account became deliquent in 2005, and the car was repossessed. There was no activity on the account until 2008 when it was "sold" to another division of Santandar (different account number). The first account is showing as "Closed", but the new one shows a "Date Opened" as 2008, essentially restarting the 7-yr clock. I've read elsewhere that this is perfectly legal and Santandar can "resell" the account within it's different divisions for as long as it wishes. This makes a deliquent Santandar account remain on a credit report indefinitely. Aside from paying the balance (which has miraculously grown from $6K to over $10K), how can I end this cycle?

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