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This statement has to be one off the first things negotiated with the existing Lender, along with any future action taken for a deficiency judgment.
Honestly - waiting for a Old Lender to notify the CB's showing the account satisfied, is not going to happen quickly.
Once paperwork is received (by you) showing there was a Settlement - the term "Satisfied", or "Paid as agreed" is listed. Copying that page, with a cover letter showing the same wordage. Then sending a letter to Experian, Equifax, and Trans-union, requesting them to update their information. This is the fastest way.
You can go the freecreditreport.com and get a free credit report. It will not show the FICA scores, but it will show any derogatory or old information that can be disputed.
The secret to getting you score higher at this point, is sending more than the agreed upon amount on your installment debt. Plus keep your revolving debt lower then 50% of the credit limits.
When I wrote loans, had to do quick credit repair fixes for many borrowers. Next week doing a presentation at a church, they asked me to come in to discuss balancing the three financial proirities of life - The Home, The Bills and Credit....
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