LaneBlane

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LaneBlane last won the day on August 3

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About LaneBlane

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  1. A few years ago I was sued by a JDB for some loans they claimed were unpaid. The amount they sued for was more than $6,000. According to my records, all the loans had been paid off, I'd been overcharged in interest, and a few of my payments didn't appear in the account history they provided. I filed an MTC that was granted and had the case stayed pending arbitration. Because the JDB wouldn't pay the required arbitration fees, JAMS administratively closed the case. The court case was later closed for lack of prosecution. I haven't heard anything from the JDB or their attorney for upwards of three years. This collection continues to appear on my credit reports. Over the past year I've made some unsuccessful attempts to have it removed. This includes sending the CRAs a screen shot from the original lender's website that lists all of my loans with a "Paid in Full" status. I was hoping this would be enough to have the account removed. It wasn't. I also mentioned the fact that the collection reported is related to a business loan that shouldn't be reported on my personal credit. That didn't work either. When I called the original lender they would only say they have nothing to do with the collection and I'd have to call the JDB. Should I try to send another copy of the screenshot that lists all my accounts as "Paid in Full" to the CRAs with an affidavit? Is there something else I should try instead?
  2. Aside from purchasing a house with a spare bedroom, is there another option for spending time with your kids in the immediate future? If you had them for a weekend, could you plan a weekend trip not too far away where you could stay at a hotel or rent a cabin? Maybe there's even a website out there that can help you out with some good ideas in that particular area.
  3. You'll be much better off if you focus on the issue with your credit reports without being in such a rush to clean things up so you can buy a house. These things do take time. In the meanwhile, focus on things you can control like watching your spending and setting aside as much savings as possible.
  4. You're very welcome. Kudos for reading JAMS' form so carefully and asking such a good question for clarification.
  5. 3. The consumer party was required to accept the arbitration provision in the contract. There's a difference between arbitration and the arbitration provision (agreement). Your ability to opt out of arbitration within 30-days is part of the arbitration provision.
  6. The only thing this discrepancy may do is raise the Experian chargeoff to $10,803. Do you know when your next consult with the credit repair company is? You're paying for their services, so I would speak with them about what they've learned and what they recommend going forward. Just pay attention to their charges, read and understand their money back guarantee, and request a refund within the 90-day period if you feel you're entitled to one.
  7. Let's say we take your girlfriend out of the equation for just a moment. As long as you had furniture and possessions in the apartment, you technically didn't vacate it. You remained responsible for the rent and any damages, regardless of the situation. (Many times when a lease expires it automatically turns into a month-to-month if you don't vacate and hand over the keys).
  8. What exactly is the collection from the apartment complex for? Did you move out first and she stayed in the unit without paying rent? Were both of you on the lease?
  9. If two of the three collections is truly illegitimate, the credit repair bureau you're working with should be able to have these removed. I'm left with the impression that taking on home ownership at this time may not be the best thing for you. There are several mortgage payment calculators available online that will let you estimate how much you can expect to pay each month. Keep in mind mortgage insurance and property taxes will also be figured into your monthly payment. Zillow should have a calculator and property tax history for listings. My best advise for you is to not have the mindset of getting into a house as fast as possible. This is a process that's going to take some time.
  10. Before you can obtain a home loan any collection accounts on your credit reports will need to be reported as paid or settled in full. You need to determine how much of a house you can afford, as well as the down payment that's going to be required. If you and the property qualify for an FHA loan the down payment will be around 5%. Traditional home loans are more like 20%. You can't take out a loan to pay for your down payment. Instead of getting into a house the fastest way possible, have you considered moving into a suitable rental that will allow you to spend more time with your kids while you work on your credit and save up for a down payment? Out of curiosity, how much is the credit repair bureau charging you? Do they charge you regardless of their ability to provide positive results?
  11. If you need help with your own collection issue with Midland you should start a new thread.
  12. Before you can obtain a home loan you'll have to pay off any collection accounts, even if the debt has past the statute of limitations. Applying for new credit is going to add some inquiries to your credit report that will remain for two years. The number of inquiries can affect your credit score, so you should keep this in mind. If you do open some credit cards to establish new credit, just be sure you're disciplined in your use of the cards so you don't accumulate more debt. Do you have any negative payments on your report that are over 7 years old? Since you have a down payment saved for a house, I'd recommend seeing if you can negotiate a "pay for delete" with Progressive Management. Just be sure to get something in writing from them that says they'll delete the item from your credit report upon payment in the amount of $XXXX. (Don't mention anything about trying to clean up your credit.)
  13. The short answer to this is a resounding YES.
  14. If they eventually file a complaint in court, you have a very good chance to move things to arbitration. This is something you don't need to think about at this early stage. Hopefully it won't get that far.
  15. It's my understanding that Comenity has a very good arbitration clause in their agreements. Even though the discussion of arbitration is very premature right now, it's something that can be extremely helpful if things get that far.