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About soclose

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  1. Charles - You seem very knowledgeable - and boy, do I have a question for you! My husband and I separated about 4 years ago. I left him in 1999 and the separation papers were filed in 2000. Per the separation agreement and finally the divorce, he was responsible for an auto loan and our mortgage - he defaulted on both. Car repo'd in 2000 and house sold at auction in dec 2000 and FHA paid a deficiency Feb 2001. Now in 2003, I'm trying to buy a home. I have about 2 late pays on a credit card in the last year (the dates just slipped by me - payment is $12 and I usually overpay and avoid having a min payment due - missed it by a bit a few times, I guess!) A mortgage co ran a caiver on me and there's an FHA block on me until Feb 2004 due to the deficiency payment on the old mortgage. FHA says they don't remove a block but per section 41551.1 pg 2-9 it's up to the lender to qualify me for FHA. According to the loan officer I spoke to, I can't get qualified anywhere for a conventional loan. So, I applied for some kind of state subsidized single parent loan she suggested. I'm waiting to hear whether or not I will get it. I wrote a letter of explanation regarding the mortgage and car defaults as well as the late pays. I have no collections and my scores run about 605 - 650 depending on the agency- broker pulled. What I want to know is - if the state housing loan doesn't go through, is there an underwriter out there that will allow me to get an FHA loan based on the fact that it has been nearly 3 years. I had to provide my tax returns for the last 3 years to show that I haven't owned property and I have not claimed interest. My debt-income ratio is good because basically all I owe is less than $650. Do I have to wait until Feb? Or can I act now?
  2. Are there conventional mortgage loans which require less than 5% or is that the custumary % down payment necessary at that level?
  3. OK - Finally got them to send me something saying the account would be removed from the CRA's. Here's the gist of the letter: Account # Balance (it"s incorrect) This account was purchased by SA and placed with Alegis Group(I've never been contacted by Alegis). Based upon research the above referenced account will be deleted from your Credit Bureau Report during the next reporting cycle. However, collection efforts will continue on this account. We apologize for any inconvenience this matter may have caused. If we can be of further assistance yada yada. Now, if I fax this to the bureaus - is it sufficient for immediate removal? And can they still try to collect? It is beyond SOL, and they're re-aging the account. Should I be satisfied w/the removal and wait to see if they ever contact me again? Or should I send them something back requesting penalty fees due to the re-aging and inaccurate balance.
  4. If you do file a complaint, is it immediately forwarded to the company or is there a lag-time? Do they have something like a PrivacyGuard or watchdog agency of their own to monitor complaints daily/weekly?
  5. Looks like SC adopted the UCC in July 2001. The way it reads anything that occured prior to its adoption is relegated to prior statutes - the Consumer Protection Code seems to be applicable in SC - the sol is 3years. I guess you'd want to be sure that the date or manner in which it was adopted in your state allows it to apply to your specific situation.
  6. Thanks MelisaDawn for doing some digging on repos - but I'm curious about UCC - is there somewhere to find a statute of limitations for each state? The link you provided seemed to be the same sol for debts and I want to be sure the info is accurate - also does the dola start at the beginning of the last payment due or is it from the date of the sale of the secured property?
  7. I searched for my state by using SC and legislature and the South Carolina legislature's website came up - I then searched within their site for what I need. Keywords there were consumer protection, debt collection, repossession. Do you have a written contract with the company - and do you have proof that you ever made payment? Did you get receipts for the cash payments? You have to have some kind of paper trail.
  8. Look up your state's repossession requirements - see if the OC followed the proper procedure in your state. Find out what documentation is required to be sent to you. Try to determine whether or not you're still within the statute of limitations and the last bill you received as well as your last payment to the creditor. This information will give you a good idea of how to approach clearing this up.
  9. Croftk and Sis - I incorporated both your suggestions and thank you very much for you assistance - if this gets resolved successfully I will be thrilled. I'd really like to report them because I think they're terrible - but I guess I'll wait to do that until I get their response. Swede - in June, I disputed as not mine. Then when they verified, I disputed the balance - they changed the status on my report from closed to open and are claiming interest as well as the pull on my credit. I don't want to anger anybody - but I want it taken care of - the ex wanted me to hire a lawyer and cease communication. This was my middle road.
  10. Thanks for the help - I don't have an address for the FTC (love to have it if you've got it!) and the code calls for complaints to be submitted to the SC Dept of Consumer Affairs. I'll add the AG and BBB - but should I actually send it to those agencies or see what happens first?
  11. We talked yesterday about the car company pulling my CR even though the account is closed. Here's my response - your comments would be helpful. I plan to Next Day Air it today. This letter is to notify you that in regard to account referenced above in which I am a joint holder, your company has violated several consumer protection codes of the state of South Carolina as well as federal regulations outlined in the FCRA - Federal Credit Reporting Act. In total, your company has misrepresented the character and amount of the debt, illegally accessed my current credit report without my expressed consent, adversely effected my credit standing by reporting inaccurate information and in fact violated the right to cure laws of the state of South Carolina. At the time of the default of this loan, an agreement of separation and maintenance had been entered and approved by a South Carolina Court of Law declaring responsibility for this debt to be my ex-husband's. (These papers are on file with your company). As stated numerous times, I was as cooperative as I could be in providing your company information on the location and activities of my former spouse thereby assisting you in exercising your right to cure. I was financially unable to meet the debt requirements and was very honest with representatives from your company on this matter. The manner in which your company attempted to collect the amount due was harassing and menacing – including sending someone to my home to harass me. In addition, the manner in which the car was repossessed also violated South Carolina law. There was no paperwork provided to my ex-husband at the time the repossession was exercised and the license tag was not provided to him to return to the Department of Motor Vehicles as is required by South Carolina law. Now, three years later, upon reviewing my credit report, I find that the manner in which you company is reporting the debt is inaccurate and illegal. The account has been closed since it's charge-off. The balance should not have changed since that time. Upon my dispute of the balance, your company illegally accessed my credit report without my knowledge or consent. The inaccurate reporting of the account information and the illegal activity on my credit have adversely effected my credit rating. These three specific violations of the Federal Credit Reporting Act are true and serious. The manner in which your company violated the Right to Cure laws of South Carolina is also true and serious. I am requesting that you remove all negative marks from my credit history regarding this account. I am also requesting that you submit to me in writing proof of this as well as removal of the illegal credit inquiry from TransUnion that was performed without my consent and is adversely affecting my credit rating. The violations your company has committed are true and serious. My rights under the law are very clear and there are several consumer advocacy agencies in place to help me seek retribution for these acts. I have the right to retain council regarding this matter and seek damages provided for by law and there are federal penalties involved in the acts you have committed against me. Please resolve this matter by doing as I request so as to avoid further action by me regarding this. I have enclosed portions of the Federal Credit Reporting Act and South Carolina Consumer Protection Codes with highlighted sections pertaining to the violations your company has committed. Also enclosed is a copy of my credit report containing the misinformation you are currently reporting and the illegal inquiry. Your prompt attention (pursuant to the 30 days stipulated by the FCRA) and resolution of this matter is requested. I copied the SC Dept of Consumer Affairs and TransUnion. Am I asking for trouble or exercising my rights?
  12. So - what do I do? TU won't remove the inquiry and I have to have something in writing from Arcadia to remove it - THIS SUCKS!!!! How do I report them???? And I'm not beyond SOL yet - do I want to start a fight?
  13. That's the debate - the dola is 5/00 and it was repo'd in 10/00 c/o same month - so it should be a closed account - the balance is still accruing interest and now they're claiming it's an open account - it was charged off almost three years ago! I disputed the account balance last week and now they've pulled my report - there should be no need to do that - I'm asking them to verify the info - if they have to pull my report does that mean they don't know what's reported - all companies would have to do is pull reports to match the info that's on the report - there has to be some rule against that.
  14. The company with my car loan pulled my credit yesterday. The reported amount is in dispute.