A problem arose when i cosigned for a credit card. It is now on my credit report. I offered a settlement offer but the CA stated that they will take the offer but will leave it on the other persons credit report but remove it from mine. Is that legal? This also involves a car where also i was a cosigner. Any advice on what to do.
First a few questions: Is the CA the only one reporting? If not, is the OC also going to delete the tradeline? Is this a payment in full? Are you still in touch with the cosigner? As far as it being legal - a ca/oc is not obligated to report anything. They are only obligated to provide accurate information. They can delete as they see fit. Note: Make sure to get all settlement offers in writing. Never EVER take their word for it.
This was a judgment against me. It was a debt that happened back in 1988. They just got a judgment against me in 2003. I neglected to respond to subpoena. A law firm has it and now wants to settle. I made an offer and they want to accept it with conditions. They will remove it off mine but leave it on the other cosigners. I just thought that if a settlement was made why leave it on the other credit report. They seeking more money. The other involving a car is the OC reporting it. Does any one know how to get information regarding if a car is resold to get the amount it was sold for? I live in Florida.
They SHOULD have sent to that info (what the car was sold for) to begin with! That's a problem I'm having too (WA state). I'd think the OC would have that info, if you want to get them involved.
They failed to give me the resell information so i contacted BBB and FTC and believe it or not, it has now been deleted. but what i need help with is the situation involving settleing this debt to make sure they delete it off both credit reports.
