How can I challenge a collection on credit report?

Question

A car bought in 02 I think- we had to let it go back. We want to purchase a home... but need to take care of this. What can we do?
Status: Account charged off/Repossession. $5,303 written off. $2,146 past due as of Jul 2004. This account is scheduled to continue on record until Jan 2011.
Challenge?
How do you challenge it?
Settle?
I can't seem to contact the company to even talk to them! Give them his SSN & they can't find anything on record.

If we made any sort of payment on the car doesn't it make the 7yrs start over again?

Any help provided would be greatly appreciated!

Answer 1

It's hard to challenge if it's correct debt as you say. If you settle the deficiency, it will show as settled and that will continue for another 7 years but it will be better than showing the deficiency not being paid. You can contest the bill in writing and the credit bureau must remove if the creditor doesn't affirm the debt. That might be likely if no one is around as you say but if it was a name finance company/bank/lender, doubt they just dissappeared. Try to find out if they were acquired or merged and then talk to their special credit section, if one exists.

Answer 2

I trust the Studly. i replaced into so badgered and wondered by technique of the time I were given off the phone with a set agent that i did not comprehend what to do. Rule #a million. not in any respect ever make deals with a debt collector over the phone. tell them you request data of the debt in the variety of the unique bill exhibiting to procure the article. i ended up paying for something that wasn't even my debt, in basic terms to get them off my decrease back. And no longer something better on the credit report. later i realized what to do.

Answer 3

Typically the Credit Reporting Agency that sent you report has information, on the Credit Report, on how to challenge a disputed item.