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Everything posted by kb9tbq

  1. I am relaying question on behalf of a friend, i know credit, but not mortgage needing some assistance. try to make long story short. Friend had a bankruptcy but spouse insisted on reaffirming the house, they did a quick deed sale, and just received notice that the occupants have left, and the house is in danger of going into foreclosure. Friend is trying to get approved for Recreational Vehicle, but was denied cause the dealership quoted her credit score being 620 range, and said she needed a 680 score. My question is can she just let it go into foreclosure and walk away, would the dealershi
  2. Dealing with ID Theft against a child Mail correspondence to Equifax Equifax Credit Information Services, Inc P.O. Box 740241 Atlanta, GA 30374 For peace of mind, you can request a credit report for your daughter through Experian’s online fraud center or by calling 1 888 EXPERIAN (1 888 397 3742) and selecting the fraud option. Simply follow the instructions provided. You will be asked to provide documentation verifying that you are the parent or legal guardian before Experian can send you a credit report. Here I thought it was an address but it is a site, try this: childidtheft@transunion.com
  3. I would say it would be in your best interest to wait out the additional year for the statute of limitations to expire. How much debt are we talking here? Is it something you could manage to pay if you work up the collection agencies on these accounts. If you do you might offer payment for deletion - so it helps and not hurts the credit score. What exact types of delinquent debt are these? Credit Cards, Car loans, utilities, medical, student loans, installment loans. There is additional information I can provide if you could give more information, also how much are we talking here? You said y
  4. Someone reminded me on this subject tonight, so I thought I would come here and share information on the topic of Skip Tracing. Consumers using opt-out to try to skit the collection agencies - I want to disagree with this tactic. Pre-solicitation is when a creditor asks the credit reporting agency for a mailing list, and they set criteria like a specific zip code, they may even ask for a group of people falling under a certain score range, and they may even ask the credit reporting agency to find all consumers they know to own a home. That is how people get them refinance offers in the mail. W
  5. You know that is a funny thing, for all purposes the credit reporting agencies and the federal trade commission stand by the position that liens have no statute of limitations. These can be reported indefinitely as long as the lien is unpaid. Once paid they are allowed 7 additional years of reporting from the release date. BUT there have been cases of consumers coming forward with releases due to expiration - so I think it is state by state how this comes about. The best thing is if you call that particular court house and ask them what applies for your area. Yeah, that is like one hand not kn
  6. When you pay, ask if they will dismiss the liens instead of list them satisfied or released. The mortgage company will require these be paid before approval of mortgage loan if possible.
  7. If you enacted the freeze yourself, all you have to do is call the credit reporting agency - you don't have to remove the freeze, all you need is to tell them you are going to be mortgage shopping and to temporarily lift the freeze for 2 weeks. You usually don't want to shop outside of 14 days, all inquiries made in 14 days are counted as just one hard hit against the credit score, in addition all inquiries are suppressed from affecting the score for 30 days. If you need mortgage lender access after the 14 days, maybe just get a pin number from the credit reporting agency for that specific len
  8. Hey, nice to see you again, I have been off exploring the Internet world of credit message boards. Gaining more experience, and securing employment with my favorite hobby. lol I realized that the heavier traffic boards don't always feel comfortable for me, I like to keep a low profile and at the same time lend my knowledge to smaller message boards that don't have the benefit of the larger boards. Sometimes I look for new boards that are just starting, and make it a point to contribute key data, the board will need to succeed. I do promote the heck out of Credit Info Center as well as other b
  9. I needed to add another point, even with the divorce decree, the mortgage loan won't remove responsibility until the spouse taking the house refinances into her or his name solely. Some consumers can find the same requirement on auto loans, if the creditor wants to be a pain about it.
  10. Be sure if you pay, that you get the agreement in writing. Also if the difference between what you owed and what you pay in the end is more than $600, you might be seeing a 1099-C for earned income to be taxed on.
  11. With the new laws, she will not be approved, unless you co-sign on the account with her. She won't be able to get an individual account until she is 21 years of age.
  12. I really don't recommend using Lexington or any other credit repair company. They are not watching out for your best interest. They just go in and dispute for deletion on every single negative. Some negatives can be converted to positive again. Like late payments 30/60 days late. You could instead be writing a letter to the creditor asking forgiveness and reconsideration of reporting the negative. If they find it in the way to show the account pays as agreed instead of late. I figure also the credit repair company is stealing money from you that might better be used to negotiate payment for d
  13. The consumer can go back to the original creditor and ask them straight up if they will take less money to settle the debt, and if they say yes then tell the original creditor that the collection agency is not participating in a fair manner. And if they are in fact willing to accept lesser payment that they recall the collection from the collection agency and settle direct with the consumer them self. It is hard to get an original creditor to cut out the collection agency, but it would be so nice if they did. Because then the collection agency would have to remove their listing off your your c
  14. That varies from lender to lender, you need to call them and ask them before you decide to let them pull the credit report. Ask if they will keep the pull to a soft account review and not a hard pull.
  15. 1. Are these listings the same account, do they have the same open date, and account number? 2. Sometimes if you convert a student loan to a new lender it gets a new open date, and new account number, So it is a different account. 3. If these are all the same, you can call the credit reporting agency to see if the drop off date for each listing is the same. If not you can dispute that the one got re-aged, and try to use that as leverage to guilt the credit reporting agency into deleting. 4. Each of the accounts should be showing zero balances / paid collection or paid charge off.
  16. That is the killer when they update the listing as disputed by consumer. It can take months or more before they even let the consumer dispute again on that account. From my experience companies will hold out for full payment if you want the judgment dismissed. If you pay less then full balance, they are going to just update to show satisfied or released. You can still ask them, I just saying it might not be accepted by them. They really got you trapped, because you are depending on the out come to get approved for a mortgage loan. The mortgage companies just don't want that judgment to later
  17. I am so so excited today, I got good news. Just this month, I moved over to an article publishing site to submit my work on credit there. I get some good feed back, not very many followers yet. But I think I am off to a fair start. Well I seen an advertisement to apply to be a featured writer in Business & Finance so I applied. I had to submit copies of my work on and off of their site, I had to list my experience and knowledge on the subject. I was worried that my material might not be professional with my style of writing. I just started college back up and have been taking English and W
  18. I did forget one thing which some one corrected me on. The family type debt is only applicable in community property states, if a creditor tries to bill the spouse she has a defense against collection efforts.
  19. Divorce is a hard thing to deal with, but finances can just make it all the worse. Joint accounts are the worst, the couple are dealing with joint credit cards, installment, auto, and mortgage loans. The creditor is going to hold both parties responsible, and if either one misses a payment they are going to be sure to report the negative mark to the credit reporting agencies. Medical debt is different, even if one party was just responsible they are still going to go after both parties because they consider medical debt to be family debt. This also includes utilities too. Spouses seeking divor
  20. The medical provider really did not need the wife's social security number if they got her name on the contact in case of emergency form with your shared address that would of been all they needed to report the data to her credit report. Not all consumers have social security numbers that the credit reporting agencies have credit files on. If they did it would make it a lot easier then all the other problems with mixed credit files going on.
  21. When I worked for a credit bureau we purchased the reports we sold from Experian and then re-sold them to our customers. Our format was different then what consumers pulled, and often the consumer would bring back and Experian report asking what was wrong because of something that was not updated right. When we did RMCR (Residential Mortgage Credit Reports) we would just update our reports to match the Experian Report. But if the consumer went to another bank that also used RMCR they would not see our update - they would see the incorrect info again. Our updates were limited to our system only
  22. I like recommending bank installment loans, these can build good history that auto & mortgage lenders are looking for later when you apply for them type of loans.
  23. Yeah that is still hurting the score, I can't say by how much exactly. I do know that payment history portion of the score affects 35% of the over all score. New lenders looking at the credit report are usually concerned with the most recent two years when they are deciding whether or not to grant new credit. But if it just shows paid on the credit report that will go along way in them forgiving it in consideration for approval.
  24. The judge should not have had a say in how the judgment was paid, the plaintiff has that say, they are the ones that file the necessary paper work the court house files. I don't know if it is too late, but I would suggest you contact the plaintiff again and ask them if they would mind correcting the release document to a dismissal document. Then obtain a copy and forward to the credit reporting agency with request for deletion. The affect of the judgment on the credit score, is greater when it is recent, but if it is older like more then 5 years it should not bare on the score much if at all.
  25. Yeah you don't want them accepting payment then updating the court house that the judgment has been released or satisfied, you want them to update as dismissed. You will need to get a copy of the dismissal from the court house and forward to the credit reporting agency for deletion. Since you are applying for a mortgage loan, ask the credit reporting agency to rush processing. They can speed things up to within 2 weeks verses having to wait 30 days. If you get rapid re-scoring you can get updates with in 48 hours. But that comes at a cost. When you dispute ask the credit reporting agency to fo