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About herauntsis

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    500 posts and hasn't been banned yet....


  • Interests
    fixing credit, anyone's credit ;)
  • Occupation
    Caregiver for developmentally disabled adults

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  1. I respectfully beg to differ. There are 2 points to DV: 1) Is there, in fact, a debt? 2) Am I, in fact, the person who owes the debt? A paid collection account may appear on my credit report, but that doesn't mean it is actually mine. I once got a paid CA off my credit through DV.
  2. Two things about all this: I am helping my niece with her credit -- she has LVNV listed on there as a collection account. If LVNV is reporting the debt as a collection account, aren't they sort of identifying themselves as a CA, do you think? Also, LVNV seems to tend to report to the credit bureaus without any form of communication directly to the consumer. Remember the part of the FDCPA that says that within 5 days of the CA's initial communication with the consumer, the CA must send the blah blah blah letter? If you have had no prior communication from them, reading your credit report cou
  3. I can only answer part of your question. You may indeed DV a CA that has never sent you a letter. Also, if you didn't get a letter, their "initial communication" with you was when you found them on your credit report. If you don't receive the FDCPA required letter from them within 5 days of reading your credit report, you already have them on one violation.
  4. I could swear there was a section in the FCRA that said inquiries should only be on your credit report for 1 year. I have looked and looked, and can't find it. Am I losing my mind, or can someone point me to it, pppplllllllease? Thank you very much and goodnight now.
  5. Hi folks -- it's been a while since I've been around -- how are you all doing? Here is my problem. On behalf of a customer, I wrote a validation letter to Sherman Acquisitions. What came back was a letter form Alegis Group, quoting the court's finding in Chaudhry v Gallerizzo: "verification of a debt involves nothing more than the debt collector confirming in writing that the amount being demanded is what the creditor is claiming is owed; the debt collector is not required to keep detailed files of the debt. There is no concomitant obligation to forward copies of bills or other detailed evi
  6. That is a clear violation of the FDCPA -- they are not allowed to file suit between the time they receive a request for validation and the time they provide validation. Maybe you can get the suit dismissed, or file a counter suit against them.
  7. I am afraid we are going to need more information than that. What are property values in your area? Does she have a down payment? What other debts does she have? What are her scores?
  8. You can buy investment property with less down payment if you qualify. You do a 75% or 80% first with a 15% or 10% 2nd; then you only have to come up with 10%. Of course, this makes the payment higher and makes it harder to qualify. The cheapest money is always on your primary residence. Do you have any equity you can pull from your home to use as the down payment? One thing that concerns me is why there are multiple homes in your area selling for less than market value. That might not bode well for buying an investment property in that area. Has the market turned and properties are losin
  9. They are bending you over pretty bad on the loan discount fee -- did they throw in some vaseline? Here's how to figure out if it is worth it or not -- figure out your total monthly savings after your debts are paid, then divide the total cost of the loan by how much you are saving per month. For instance, if you are saving $300 per month in total cash flow, it's going to take you a little over three years to break even. Also take into account the tax benefits, if you are paying off debts that you can't deduct the interest on. The loan discount fee can be written off over 30 years, unless you
  10. I probably do tend to take things too far; and if it were me, I would be pissed that this was on my credit report at all, to say nothing of being made to pay something I didn't owe. You are probably right that it is more trouble than it's worth, but I have never been very good at forgetting stuff like this. It just plain makes me mad!
  11. I knew that sounded wrong -- here is the section of the FCRA that they are violating: c§ 604. Permissible purposes of consumer reports [15 U.S.C. § 1681b] © Furnishing reports in connection with credit or insurance transactions that are not initiated by the consumer. (3) Information regarding inquiries. Except as provided in section 609(a)(5) [§ 1681g], a consumer reporting agency shall not furnish to any person a record of inquiries in connection with a credit or insurance transaction that is not initiated by a consumer. The question would be, is there something in the new FCRA that contrad
  12. Elyse, you need to take a rest from this for a while -- I think you are on overload. lol, creditinfocenter.com is THIS board that you are on right now
  13. Apparently the CRAs don't train their employees that there is such a thing as a procedural description. That is the umpteenth time I have seen that as a response to a request for one. They always give you some BS about it being a dispute (apparently they don't train their employees to read either).