Bridgecrest / DriveTime (NEED BIG HELP) (2024)

Hi all,

My wife's credit report is down to one single item remaining on it. The only negative listed at all is a repossession from 2015. It had a balance of $10,500 owed. We needed it removed in order to be approved for our daughter's PLUS LOANs for college. On May 6th, we agreed to a settlement with Bridgecrest of $3500 to settle the account. We knew that it would leave a negative on the credit report but decided to pay it so the balance was zero. Bridgecrest sent me a PDF saying the balance had been settled as of May 9th. On June 7th they updated the credit report to show the $3500 balance but changed nothing else. Bridgecrest responded to me saying 60 days could be possible to fully report. I disputed the item immediately with the letter from them saying it was settled. All three credit bureaus validated the account as correct despite the PDF evidence and allowed it to still show a status of repossession and $7000 balance instead of $11,500. I was shocked but decided to be patient.. what else could I do, right? They just updated the bureaus again on July 7th with the same status.. showing the account is in repossesion and the same balance as if I just made a payment to reduce the balance but not that it is settled.

Anyone have a suggestion? BridgeCrest won't take my calls now and before they will transfer me to the same department I worked with, they have the call screener tell me it takes time to fall off the report. I'm furious because its been 62 days since I paid the debt and two full update cycles with the bureaus and now another 30 days of wondering if August 7th it will finally be fixed. ;(

CapOne QS $10,250

AMEX Delta Gold $15,000

AMEX BCE $5,000

AMEX BCP $1,000

AMEX HHonors $1,600

Discover it $2,000

FICO8 Scores: EQ: 648 TU: 654 EX: 691 (as of 07/15/2017)

• Debt Management

0Kudos

I really dont think anyone can answer that for you

I am actually surprisedthey agreed on PFD in a first place.

CRA will not entertain removal of the account based of PFD letter provided by you because it's contrary to their policies and instructionsthey give reporting wise.

If they dont delete, you have a basis for civil complaint based on your letter, but that's not done with CRA.

Maybe just continue calling, writting letters etc till you get someone to respond to you.

Hopefully it gets removed for you soon

Hi... in the note I had said "PDF" not "PFD"... they sent me a PDF FILE showing the account settled. They definitely don't agree with PFD. I just want them to update to show I've settled and reflect the balance as $0. 62 days seems like more than enough time considering they updated it to the new balance... two months in a row.

CapOne QS $10,250

AMEX Delta Gold $15,000

AMEX BCE $5,000

AMEX BCP $1,000

AMEX HHonors $1,600

Discover it $2,000

FICO8 Scores: EQ: 648 TU: 654 EX: 691 (as of 07/15/2017)

0Kudos

@dallasareaguywrote:

Hi all,

My wife's credit report is down to one single item remaining on it. The only negative listed at all is a repossession from 2015. It had a balance of $10,500 owed. We needed it removed in order to be approved for our daughter's PLUS LOANs for college. On May 6th, we agreed to a settlement with Bridgecrest of $3500 to settle the account. We knew that it would leave a negative on the credit report but decided to pay it so the balance was zero. Bridgecrest sent me a PDF saying the balance had been settled as of May 9th. On June 7th they updated the credit report to show the $3500 balance but changed nothing else. Bridgecrest responded to me saying 60 days could be possible to fully report. I disputed the item immediately with the letter from them saying it was settled. All three credit bureaus validated the account as correct despite the PDF evidence and allowed it to still show a status of repossession and $7000 balance instead of $11,500. I was shocked but decided to be patient.. what else could I do, right? They just updated the bureaus again on July 7th with the same status.. showing the account is in repossesion and the same balance as if I just made a payment to reduce the balance but not that it is settled.

Anyone have a suggestion? BridgeCrest won't take my calls now and before they will transfer me to the same department I worked with, they have the call screener tell me it takes time to fall off the report. I'm furious because its been 62 days since I paid the debt and two full update cycles with the bureaus and now another 30 days of wondering if August 7th it will finally be fixed. ;(

Edit: Looks like its going to stay settled for less. Then they cant come after you any longer for what wasnt paid.

0Kudos

@dallasareaguywrote:

Hi... in the note I had said "PDF" not "PFD"... they sent me a PDF FILE showing the account settled. They definitely don't agree with PFD. I just want them to update to show I've settled and reflect the balance as $0. 62 days seems like more than enough time considering they updated it to the new balance... two months in a row.

So, you're saying I cant read (I blame coffee)

It can take up to 60 days, but I cant imagine it taking longer than that. If it does not happen by 08/07 and you've gone through direct disputewith them and CRA, then it might be a time for CFBP complaint.

I believethey are supposed to reflect $0.00 balance with annotationsettled for less, but I am really not sure if repos are treated the same way as settled COs and collections

Maybe if@RobertEGsees your post, he might be able to instruct you on what would be the next step in making sure that account reports correctly

@Remedioswrote:

@dallasareaguywrote:

Hi... in the note I had said "PDF" not "PFD"... they sent me a PDF FILE showing the account settled. They definitely don't agree with PFD. I just want them to update to show I've settled and reflect the balance as $0. 62 days seems like more than enough time considering they updated it to the new balance... two months in a row.

So, you're saying I cant read (I blame coffee)

It can take up to 60 days, but I cant imagine it taking longer than that. If it does not happen by 08/07 and you've gone through direct disputewith them and CRA, then it might be a time for CFBP complaint.

I believethey are supposed to reflect $0.00 balance with annotationsettled for less, but I am really not sure if repos are treated the same way as settled COs and collections

Maybe if@RobertEGsees your post, he might be able to instruct you on what would be the next step in making sure that account reports correctly

Reme. The way I've leaned on here and passed on is that when a repo is settled for less. It will still show what the left over balance was after payment. But it will say settled for less, since it wasnt PIF. They cant come after the poster and try to collect any longer after the settlement. Question also. What was the repo auctioned for. And was that amount enough to pay off the loan. And the 10g's was the balance after applying the sale at auction. Then the poster may get a 1099c for what was written off as bad debt that they couldnt recover. We'll see what Robert says. Yes Repo's and CC's are different beast.

@FireMedic1wrote:

@Remedioswrote:

@dallasareaguywrote:

Hi... in the note I had said "PDF" not "PFD"... they sent me a PDF FILE showing the account settled. They definitely don't agree with PFD. I just want them to update to show I've settled and reflect the balance as $0. 62 days seems like more than enough time considering they updated it to the new balance... two months in a row.

So, you're saying I cant read (I blame coffee)

It can take up to 60 days, but I cant imagine it taking longer than that. If it does not happen by 08/07 and you've gone through direct disputewith them and CRA, then it might be a time for CFBP complaint.

I believethey are supposed to reflect $0.00 balance with annotationsettled for less, but I am really not sure if repos are treated the same way as settled COs and collections

Maybe if@RobertEGsees your post, he might be able to instruct you on what would be the next step in making sure that account reports correctly

Reme. The way I've leaned on here and passed on is that when a repo is settled for less. It will still show what the left over balance was after payment. But it will say settled for less, but since it wasnt PIF. It wont show 0 balance. They cant come after the poster and try to collect any longer after the settlement. Question also. What was the repo auctioned for. And was that amount enough to pay off the loan. And the 10g's was the balance after applying the sale at auction. Then the poster may get a 1099c for what was written off as bad debt that they couldnt recover. We'll see what Robert says. Yes Repo's and CC's are different beast.

Thanks!

I thought I read something about them being different, but cant remember what. Certainly, a learning opportunityhere.

@Remedioswrote:

@FireMedic1wrote:

@Remedioswrote:

@dallasareaguywrote:

Hi... in the note I had said "PDF" not "PFD"... they sent me a PDF FILE showing the account settled. They definitely don't agree with PFD. I just want them to update to show I've settled and reflect the balance as $0. 62 days seems like more than enough time considering they updated it to the new balance... two months in a row.

So, you're saying I cant read (I blame coffee)

It can take up to 60 days, but I cant imagine it taking longer than that. If it does not happen by 08/07 and you've gone through direct disputewith them and CRA, then it might be a time for CFBP complaint.

I believethey are supposed to reflect $0.00 balance with annotationsettled for less, but I am really not sure if repos are treated the same way as settled COs and collections

Maybe if@RobertEGsees your post, he might be able to instruct you on what would be the next step in making sure that account reports correctly

Reme. The way I've leaned on here and passed on is that when a repo is settled for less. It will still show what the left over balance was after payment. But it will say settled for less, but since it wasnt PIF. It wont show 0 balance. They cant come after the poster and try to collect any longer after the settlement. Question also. What was the repo auctioned for. And was that amount enough to pay off the loan. And the 10g's was the balance after applying the sale at auction. Then the poster may get a 1099c for what was written off as bad debt that they couldnt recover. We'll see what Robert says. Yes Repo's and CC's are different beast.

Thanks!

I thought I read something about them being different, but cant remember what. Certainly, a learning opportunityhere.

True that. Either way I guess it will reflect not owed any longer. But its still a derog for scores.And getting repo like you said is almost like getting a 120 day late deleted. Not gonna happen. We'll wait for Rob and see what the guru has to say

0Kudos