Hello. So my boyfriend is bad at financials and since he met me is starting to get better. However I never taught anything about the subject but I have recently become interested and started to learn a lot being 27. So here is one issue. He has now defaulted on two car loans. The first seemed to be just way too expensive or something but after looking at his CK I saw this.
Creditor Name
CRESCENT CREDIT UNIO
Account Type
Auto
Account Status
Closed - Paid and Closed
Opened Date
Dec 13, 2010
Closed Date
Oct 01, 2013
Limit
--
Term
72 Months
Monthly Payment
--
Responsibility
Joint Account
Balance
$0
Highest Balance
$34,814
Payment Status
120-149 Days Late
Worst Payment Status
--
Date of Last Payment
Oct 01, 2013
Amount Past Due
--
Times 30/60/90 Days Late
9/6/1
Remarks
Fixed rate

does this mean someone paid his loan off? And will this be on his credit until around 2020? The second one is this...


Last Reported
Jan 31, 2017
Creditor Name
CHRYSLER CAPITAL
Account Type
Auto
Account Status
Closed
Opened Date
Oct 16, 2013
Closed Date
--
Limit
--
Term
72 Months
Monthly Payment
$366
Responsibility
Individual Account.
Balance
$9,731
Highest Balance
--
Payment Status
Collection/Charge-Off
Worst Payment Status
--
Date of Last Payment
Jan 01, 2017
Amount Past Due
--
Times 30/60/90 Days Late
8/7/6
Remarks
Charged off account
Now this car was repossessed and he paid to get it back. Since then, the car has been reported charged off on his credit and after talking to Chrysler they said there is nothing they will do to change the Charge off status each month even though he has the car and is paying. He still owes some fees from repo but has been making payments every month since December around $500 a month. Since the car is being reported as a charge off is it worth it to keep paying this loan without any credit benefits? Or should he look into trading it in? or any other ideas?