Determined1

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About Determined1

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  1. Hi old friends and new friends. It's been awhile and recent circumstances brought me back to CIC to ask and share information regarding credit and collections. Recently, I began receiving a series of collection emails and phone calls on the same alleged account. I never received a proper notice in the mail from either party, just emails. I have received separate calls from each collection agency, sometimes on the same day, both claiming to represent or collect for the same party. Can two separate collection agencies ever operate on the same alleged account, both claiming to represent the
  2. Hi Friends, It's been awhile since I've posted and thought I would check in, say hello and ask a question. In the wake of a natural disaster, are there any federal regulations that prohibit banks / lenders from reporting a late payment to the credit bureaus for a consumer located in a state and county that was declared a federal disaster area? If there is a period that credit reporting is affected, how long does it last? Thanks to all who may have any info!
  3. Excellent article on how to raise your credit score, and the major components affecting your score. How to Raise Your Credit Score, Fast http://www.bloomberg.com/news/articles/2016-05-10/how-to-raise-your-credit-score-fast
  4. John Oliver skewers credit bureaus for false reporting of consumers' credit histories and failing to take proper measures to correct errors in this hilarious presentation. http://time.com/4288093/john-oliver-credit-reports-last-week-tonight/
  5. Hi, A question for my CIC friends: When a credit card issuer does not have typical retail bank operations, but is primarily an issuer of credit cards, and issues a credit card through a standard retail bank, who is the proper reporting entity listed on a credit report? For example, lets say First National Bank of Omaha (who has no retail locations) issues all credit cards for First Community Bank (who has retail locations), who is the proper party to be reporting on a credit report? Thank you.
  6. This is a must watch behind the scenes video for anyone receiving debt collection calls: http://www.insideedition.com/videos/3437-watch-dirty-secrets-of-debt-collectors
  7. I have been researching HIPAA and the potential for a private right of action. Others have opined that HIPAA does not provide a basis for a private right to sue and cause of action. Based upon a review of the law, this appeared to be correct, ie. an individual cannot sue using HIPAA as the cause of action. However, several state court cases have recently set legal precedence that show an individual can sue using a cause of action of "negligence" or "breach of duty of confidentiality" with a reference to HIPAA and the law's "standard of care" requirements. It appears when plead carefully, feder
  8. I've posted a few times on this topic and came across an interesting article and comments from a leading credit industry expert and directly from Experian on the matter tonight. I had to post this for your thoughts and comments. After receiving an IRS 1099-C form from a creditor, also known as a "Cancellation of Debt" form, there is a debate on the creditor's continued legal right to collect, and how the matter should be reported to the credit bureaus. Regardless of where you (or court opinions) stand on the issue of future debt collection, the secondary issue of credit reporting appears to
  9. I received a 1099-C last year for a closed business credit card from an original creditor (account closed in 2009). Despite the issuance of the 1099-C, the full amount of the charge off is still reporting on my credit reports. My understanding of 1099-C's and credit reporting is if the original creditor intends to report to the credit bureaus, it should now be reported as: "Balance Due $0." I had one other account fall into this scenario and that bank changed its reporting to "Balance Due $0". I plan to dispute the legitimacy of the charge off, the amount stated on the 1099-C, and how it is
  10. Hi, In late 2010 I had a negative item appear on my credit reports from "Advanta Bank." Advanta Bank failed in 2009 and was shut down by the FDIC and State of Utah. They were heavily fined for deceptive and unfair business practices (ie. offering a 0% introductory interest rate and then rate jacking their customers to 38%). Advanta Bank ultimately declared bankruptcy. As far as I could determine, the FDIC was set up as a receiver for their deposits, and any debts owed were sold off to junk debt buyers. The former owners of Advanta have been individually sued for breach of fiduciary duty and
  11. Bank of America is being forced to hand over more than $1 million to a Florida couple after the bank flooded them with hundreds of loan collection calls for years – the latest example of alleged behavior that has cost the bank tens of millions. Full story: http://abcnews.go.com/US/couple-wins-1m-suit-major-bank-outrageous-robocall/story?id=27542208
  12. 9 questions about credit scores you were too embarrassed to ask Imagine trying to lose a few pounds without ever stepping on the scale or trying to cut your cholesterol without ever getting it checked. Tens of millions of Americans are taking a similarly blind approach to their money. Everyone wants their finances to be in good shape, but less than half of all Americans even know their credit score. That's not good — a bad credit score can mean a high-interest loan that costs you thousands and thousands of dollars over the course of a lifetime. But it's not just laziness. Private companies o
  13. Hi, I disputed an entry on my credit reports approximately four years ago and the credit bureaus all removed the entry. After ordering my updated reports this week, I see that one of the credit bureaus added a new creditor's account to my report, shown in a delinquent status. I had never heard of the party, so I looked them up online. It looks like either the party I first disputed had a name change, or they were acquired by this new party. It's hard to be 100% certain thus far, but public corporate records on file with my state show a simple name change. My question pertains to to the Fai
  14. http://www.businessweek.com/articles/2014-09-11/online-payday-lenders-sidestep-state-laws-for-billions-in-profit
  15. Great reporting on a difficult subject. Debt collectors are bad enough, but to be harassing the family members of people who just passed away is awful. Thankfully, this end of the industry is beginning to clean up its act. Please see: http://www.vox.com/2014/8/27/5978351/inside-the-practice-of-collecting-money-from-dead-people-deceased-collections?utm_medium=social&utm_source=facebook&utm_campaign=voxdotcom&utm_content=wednesday