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I leased a 2015 Nissan Altima in 2015 with 77 miles on it. A few months after I bought the car I had a lapse in my insurance and during that time was involved in an accident, I was unable to drive the car anymore and was unable to afford to get the car fixed without the insurance.  Eventually, the car was repossessed and I moved on.  Shortly after they sent me a letter stating that I owed $26,913 on the car, this is also reported on my credit.  I am now (4 years later) trying to buy my first home, but having this on my credit is really hurting my chances.  Does anyone have any experience with Nissan?   Has anyone had anything similar?  I am looking to see if there is something I can do to help me get past this.  It is currently reported on my credit as a charge off but the amount owed is what is hurting my chances for buying because it is still showing as an "Active care payment" according to the lender I am working with.  Please if anyone has any suggestions please let me know.

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If the loan contract contained an arbitration clause you may be able to work out a much smaller settlement deal and have it removed from your credit reports by filing an arbitration case against them.

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