Well it is with great disappointment that I inform you guys that this process is all WRONG. I have attempted it twice at two car dealerships and it did not turn out fruitful. We have been duped. The paying of the bills with all of the codes is incorrect as well.
I am just implementing what I have learned. Let me get them mailed off on Monday, and when the results come in I will come back here and hopefully will have a zoom call to share with everyone.
For the moment, STOP DOING THIS PROCESS IMMEDIATELY. I am hearing that people are going to jail. I read a post where the bank told someone the auto loan was rejected and that she was responsible still for the payment. Absolutely, Positively NOT TRUE.
In the group I am in, someone literally went and purchased a new car, sent a 1099C immediately and within a week his credit report reflected, 84 payments paid as agreed and his credit report went up 100 points.
Hold on, I have the CORRECT REMEDY and I will share it. You don't need to do a status change or anything else, but to remove yourself from being a minor in the eyes of the government you will and I have that process as well. I am still implementing those documents as well.
STOP THE 1099A PROCESS. STOP THE CODES on the bills. It's not worth it if only a handful of companies are accepting it. Back soon. Love and light.