In 2010, I had taken out a car loan with Santander Bank at an interest rate of about 25%. After almost 2 years of making payments, I fell into some financially hard times and the car was repossessed. Not wanting to "ruin" my credit, I paid the past due debt to retrieve the vehicle. Once the debt was paid, after running my credit report, I found out the loan was charged-off. I was never notified of this!
I'm continuously making payments at an extremely high interest rate, and I've only had a $2,000 reduction in my principal balance within 3 years of making payments (which seems odd to me). At this point, my credit is already ruined! What are my current options with this charged-off loan?