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WreckItRalph's Achievements


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  1. Hi Team, I was recently shopping for new (used) cars, and I landed on a local Audi dealer's finance page. On the page where you can apply for credit, there is a paragraph that says : Apply for credit now and save time at the dealership Applying for credit is easy, and you can get started financing a purchase or lease right here. Use the form below to provide us with information we need to help find the payment and terms that work best for you. As soon as we process your information, one of our experienced Financial Managers will call you to review your options. If you are worried about credit, you may prefer to Prequalify for Financing before you apply for credit. --> I click this link, which leads me to the pre-qualification page, which says: Get pre-qualified now and save time at the dealership Do you have credit concerns? We can help! Use the form below to provide us with information we need to determine if there are financing options that work for you. Don't worry if you don't get an instant response, a representative from Audi [Location] will be in touch with you shortly. If you are less worried about credit, you can skip this step and go directly to a Finance Application. I fill out the prequalification form, get an email saying 'we need more info from you,' but never follow up with the dealership because I make my purchase elsewhere the same day. A few weeks later, I'm checking my reports, and find an unexpected hard pull from the audi dealer at which I only did the PRE-qualification. The wording of their page was expressly set up to imply you are not actually applying for credit. It says " If you are worried about credit, you may prefer to Prequalify for Financing before you apply for credit. -" , Therefore, if this prequalification is not itself an application for credit, why did they perform a hard pull? I emailed the GM of the dealership explaining what had happened, asking them to remove the inquiry, but they are stonewalling. Any advice? I feel duped. Thanks! p.s., I know the common wisdom is that hard pulls around the same date for auto loans get merged together for scoring purposes, but this just seems like something VERY shady they've done.
  2. I'm confused by your response. The OP only owes a maximum of $10,000. No need to jump through any of the hoops of buying a $14,000 car, then claiming C7 with a $10,000 wildcard exemption if OP is going to have $13,000 left in excess of what can be exempted from the $37,000 life insurance payout. Shouldn't OP just call them up, say she won $2500 playing Bingo, and ask them to settle the 10K debt in full for a one-time payment of $2500? Even if nobody plays ball, OP should just maybe consider paying in full to be done with things, OR, just don't move the money from where it currently is. Whatever increased interest rate OP will get over the current 1% will by moving to a higher-interest-rate savings account will NEVER add up to the amount she will pay to settle in any way shape or form. Sorry, I was confused because OP stated in first post she had a 10k credit card debt she was being contacted about, but then later downthread it morphed into 40k of debt to various lenders. I think the discussion should also really focus on whether the chance for an increased APR will ever add up to any amount close to the best-case scenario of settling for 10k on 40k of debt. It would probably take three lifetimes to realize 10k of interest on a 37k savings account, regardless of the interest rate.
  3. It means that unless you have a copy of the credit card agreement that governed your Capital One account which is completely different from any of the Capital One Card Member agreements that everyone else on this site has been seeing for the past 8-10 years, there is no right to invoke arbitration, and you would need to proceed with the case in court or settle. Do you have a copy of your card member / card holder agreement ? If yes, type the text in your response that leads you to believe you can invoke arbitration.
  4. imagine this poor person being garnished for EIGHT YEARS on a 10k judgement? Terrible.
  5. To all the wise counselors on this board: Wouldn't the defendant before OP have been smart to just take the dismissal with prejudice , and then to use that to have the CRAs remove the collection account? Wouldn't that have been enough to get it removed for good? Thanks!
  6. hopefully that big fee for them will be the end of this mess. fingers crossed for you.
  7. If You find a way to get Midland to settle for 10 cents on the dollar, please let us know. I've never heard of anything so low, at least in the recent past. Anyone else?
  8. So when (if) I beat Midland, and Midland has to remove its own collection account from my reports, there will literally be no history of the original debt or the collection to be found within my reports, as if the entire thing never happened?
  9. But Midland doesn't have the legal power to delete Capital One's tradeline, do they? Isn't that why we always hear the refrain that JDBs cannot make a pay-for-delete happen , except as to their own collection account entries? If so, doesn't that indicate that only Capital One could have told the CRAs to delete those accounts ?
  10. No update on this case yet, but I was just going through my credit report via Credit Karma, and neither the Transunion *nor* Equifax credit reports contain any reference to my charged-off Capital One account that I am currently being sued by Midland for. Is it weird that the OC is no longer present on my reports, even under the "closed" accounts sections where I can see old / closed auto loans, personal loans, and credit cards? ? Thanks!
  11. Bump. Would really appreciate an update here as well. Wondering what Cooling & Winter can possibly argue if there is an ironclad arbitration clause in the card holder agreement. @Clydesmom
  12. Thank you, Thank you, Thank you. A million times, thank you! I think this will be really helpful when I meet for my consultations in the upcoming days. I truly appreciate this, and will come back with updates as they happen.
  13. All, I'm trying to locate a capital one cardmember agreement from *before* they removed the arbitration provisions. My Capital One account was opened prior to the removal of that provision, which I've read here occurred in 2008(ish). My account charged off in December 2018, so that is the version of the agreement the JDB filed with the magistrate court. Of course there is no mention of the arbitration provision in that version. I am seeking to use the survivability clause that was present in the arbitration clause, so that even though JDB will now claim the 2018 agreement controls, I will be able to show that in fact the Survivability provision means that arbitration is still available to me, and hope that a motion to compel will then be granted on that basis. The CFPB archive doesn't go back that far, so if anyone can please help, it would be greatly appreciated. I have seen copy/pastes of the arbitration provision across various threads at various sites (and maybe even here) but I really need an entire agreement. Thanks for any guidance you can provide. -W.I.R.
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