I had a motorhome loan with E*Trade/Thor Credit. I loaned the motorhome to another person to use with the condition that the other person make the payments. E*Trade learned that another person was making payments and repossessed the motorhome because it violated their contract.
The loan amount owed was $91,000. E*Trade/Thor Credit sold the motorhome at auction for $37,000. To settle the lawsuit against me, I paid them $29,000 as the settlement reached between me and their attorney, on top of the $37,000 they recouped at auction.
They then reported the vehicle as repossessed to major credit reporting agencies and refused to show that a settlement had been reached. My credit is ruined because of this one item. My credit score went from 735 to 620 because of their refusal to indicate that this matter was concluded by monetary settlement. The credit reports indicate that $91,000 was lost, when this is not true at all.
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