Here's the particulars on the loan. I owe $8658 and have 17 payments remaining on a 60 month loan. The interest rate is 17.60%. They will refinance the loan, with no fees or costs, over 24 months, at the same interest rate. The new payment would be about $8.00/month less than the currently payment (but if I factor in the late charges I am paying every month, it increases that savings to like $40/month). The lender will not "delete" or "re-age" my existing loan under any circumstances; thus, regardless of whether I can bring the existing loan current or I refinance it, I will still have the 30-day late notation on my report. If I were to refinance and stay current, though, I would have a positive installment account being reported. I know that strictly from a mathematical standpoint I should just find the way to get current and payoff the existing loan over the remaining term, but I am most concerned with getting the best credit effect out of this. Would I be better off to just get current on the existing loan, stay current on it, and then challenge the late pays on my credit report? Or do the refinance, while at the same time challenging the late pays on the old (refinanced) loan? Any and all opinions would be really helpful to me. Thanks guys and gals for your input.