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Zeljka411

Santander - Older Repo w/deficiency Balance

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Hi, 

 

I had a car repossession in 2014.  The account was opened on 2013.  The last payment shown on my credit report is 07/2014 (I believe that this is a payment they applied after they sold the car).   The account shows closed on March 2014.  There has never been a judgement filed or any other collection activity that I am aware of  (no collections on my reports).  The last balance reported was on that is 07/2018 (almost 2 years ago).   Would this be falling off my credit sometime in 2020?  Should I dispute this account after July 2020 or just let it be.   Thanks for any suggestions.  

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The date of first delinquency (DOFD) is what is used to start the clock for when the item must be deleted.  The DOFD is when you first went delinquent (first missed due date) and never brought the account current again. 

It should come off 7 years +30 days from whenever you made your last payment. They can't count the amount they applied as a "payment".

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