tydaddy

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Everything posted by tydaddy

  1. How should I handle this situation? I received a call from someone from "so & so's Law Office" saying that Best Buy SOLD my account to Atlantic Credit Union who now has this Law Office representing them and asking me to settle the account. The amount is in $2597.54. This rep from the Law office says they will accept a settlement for $1900. I obviously do not have the $ to pay as we are being hounded by every creditor in the world right now. What is the best way for me to handle this situation? Call Best Buy to confirm first? Ask them for Atlantic Credit's phone #? Should I EVEN be speaking to these individuals who obviously seem like a 3rd party? Of course they tell me that I have only until today to come up with a plan or that Atlantic Credit will be filing a suit. Please advise!!!! Thank you!
  2. Can someone please direct as to what I am supposed to do now? We are spiraling out of control and spinning downward fast. My husband was out of work for many months and we have fallen so far behind that we cannot seem to catch our breath. Everything is in collection and the calls do not stop. We are 2 months behind in mortgage - have gotten 5 liens on our house from our Homeowners Association and now are getting calls from Law Offices and been served by Discover with papers to sue. How do I handle the calls from the Law Offices? I have been receiving them from the secretaries and reps NOT the lawyers themselves. Should I call back and how do I handle the calls? We obviously owe the debts but I do not want to say or make any kind of arrangements that will put me in a worse position. With the lawsuit papers from Discover - how do I handle those? My mortgage company has already agreed to give us a break - they lowered everything for 6 months last year and we were able to make pmts but got behind the last 2 mos and couldn't pay. They seem to be working with me now so that may be ok. The cc companies and collections are all things I need to call. There are just so many and we only have so much $ to go around. We have 3 children so literally 1/2 of one of our salaries goes to paying for childcare just so we can work. We are being KILLED by gas prices - we have one SUV that costs $100 just to fill up only to last me 3 days before going back to fill up again. BOTH of our cars are old and needed repairs the last 3 months which cost us over $3000 which is what put us behind. We can't work w/o cars and childcare so it seems almost impossible to keep up. My husband is so stressed and fed up that he just wants to file Ch. 13. I'm at a loss! From being in the high 700's 4 years ago to back in the dumps. Any guidance on how to handle this seemingly uncontrollable situation - would be greatly appreciated! Thanks for your help!!!
  3. I had a collection agent from my HELOC line call my neighbor AND my brother in the last 2 days. Is this legal? Please someone advise me before I call them back and let them know that I will be filing a complaint with the FTC (want to make sure my info is correct). I believe they are inhouse debt collectors... Thanks!
  4. I need some serious advice on how to handle my current situation. I have fallen back into some serious delinquency on all my accounts the last few months. My husband lost his job and has been unable to get work - I was ill and unable to keep in contact with creditors and now we are in serious dire straits! I have managed to make arrangements with my mortgage company, heloc and finance company that has my car loan but I have Sears, Best Buy, Amex, Beneficial all in collections. I have NOT yet talked to the Collection people and want to know if I should contact the OC directly (even though they still are in collections) to try and make arrangements. I am working as much as I can but cannot make full payments to anyone because I have to spread out the money. We're doing everything in our power to get on our feet but we're so behind it almost seems futile. We are 3 months behind on all the accounts. How do I handle without putting myself in Collection #$(*)*$! I can't believe I'm here again! Thanks for your help!
  5. Hello ~ I CANNOT believe I am here again for THIS situation. But long story short this past year (6 mos) exactly has been extremely difficult. I became ill - my husband lost his job and we managed to stay afloat for sometime but the last 3 months the walls have come CRASHING down. We are 3 months behind on bills and the collections calls are incessant - finance company threatening to reposses car - heloc company stating we are going to go into foreclosure, AMex was canceled and Collections from all the rest of the cc's we owe are calling about every 20 mins. I have managed to make arrangements with the finance co for car, mortgage company has us on a 6 month plan and HELOC is currently working something out for us as well. As far as the collections on all my other accounts, how should I handle? I have spoken to the actual creditors - and have not spoken to Collections. It's been 5 years since I've been in this position so what is the best strategy now? We DO NOT have the $ to pay the balances but I CAN send them something - just not alot right now. I am working night and day trying to set up additional projects to bring in $$$ so I am hoping to catch up at some point but what do I do currently? Should I call Collection people directly or just call the companies I owe to see if they will still deal with me? Please help before I get on the phone with one of the Collectors and screw everything up! Thank you so much! ~ Heather
  6. No - it is not delinquent in anyway. Just wondering if I had any leverage to get it all taken care of for the full $7500. It just kills me that to pay off the full amount - I would still have to pay an additional $400. :{
  7. I have a question regarding a Personal Line of Credit. I have a line of credit for $8000 of which $7700 of it is used. I have $7500 to pay it off. Is it possible for me to negotiate with them to pay off the entire account for that amount? The line is with Beneficial and the interest rate is 29%. I want to pay this off but when I called yesterday they told me the payoff amount is $7900. Will they take $7500 as payoff or does that only work with credit card companies??? Anyone? Thanks!
  8. Elyse ~ Thanks for the advice. Good Luck getting back into the workforce. You shouldn't have any problems finding a good position. There is a large demographic of career women who took time off to stay home with their children and get back into the game after a few years. I come from an HR background and know that as long as you have the required skills and can perform the job - companies are glad to have you. THere are all kinds of sample cover letters you can find online. Just type in cover letters under a search engine and you should find tons of links to getting prepared to get back in the workforce. I also used to be an Executive Recruiter so there are all kinds of ways that you can present your skill set, even after taking time off, and still look like an outstanding hire. If you also type in Moms getting back into the workforce in a search engine - it should point you to sites where they have loads of advice and suggestions to get you on track. I'm happy to help if you have any ?'s. Feel free to ask anytime. I'm signing off for the evening. Will be back manana.
  9. No Best Buy is not maxed out. My limit is $5K and we owe $2000 on it. The reason we are in this situation is that I had my 3rd child last year and was on bedrest towards the end of the pregnancy and have not been back to work since. Childcare out here is incredibly expensive and for me to go back to work and pay daycare costs for 3 children does not make any sense. I essentially would be working to pay for daycare. So our cc's ran up and now I'm doing contract work from home and my husband is in the middle of getting his Masters so he has 2 online classes that we need to pay for in the next 3 months = $2K. He just did not want to add anything else to our cards and thought we should hold back some of that to pay it off. At any rate - I'm just trying to do what's best for both of us in the long run. I have alot of work to do on his cr's. He has many lates from long ago and too much stuff to clean up so we have just been surviving on mine for now. I plan on working on his this year so that he can qualify with me when we go in together for the next house. So that's the story. I will try to stick to paying off as much as I can on the cards and keep low balances on the ones that aren't completely paid off. My score went from 726 to 680 b/c everything was in my name and my balances were too high. I'm hoping this might give it the jump it needs if I get my cc's taken care of.
  10. ok sent the last post before I saw the other suggestions. Again - I am interested in keeping my FICO as high as it can be b/c we are looking to buy another house by within the next year. If something comes up - we would like to be in a position to qualify for a low rate. My dh credit is not good so we have been surviving on mine the last few years. All loans are in my name, house, car, credit cards, etc. It is my goal to pay off all the rest of our cards before we move so I'm hoping to do that in the next 6-12 months. So with that in mind - what is the best pay off method? My dh has a Discover in his name for $4500 - $1500 over the limit but negative reporting. He wants to put some $ towards that right now but I think it's better to concentrate on the ones I have on my report so I can get the good score. When that happens - we can transfer his amount to one of my cards and get it paid off. What do you guys think? Thanks!
  11. ok - found the recent BoA offer - it is for 0% bt until Jan 08. It states my pre-qualified credit line up to $7,495 has been confirmed. Meaning WHAT? Should I apply? Just called Chase and again they will not do ANYTHING until I get the amount under the limit. I am $165 over. They said even if I pay the account off then there is no guarantee that they can get me a lower rate. Whatever! Thus far I am thinking of disbursing it this way: 1. Amex Gold - pay all of but $1,000 (have a $3200 pmt due now so balance would be $14K instead of $17K) 2. Amex Blue - pay $8K and leave $2,000 balance 3. Chase - pay $5500 - leave $500 balance 4. Beneficial - pay entire amount off - $8,000 (the balance is actually $8K - forget to add the $ my dh used). All in all that would leave me with $1,000 left over - which my husband needs to pay for one of his classes for school next month. Should I go ahead and apply for the BoA for the 0% offer now or wait until after the refi? I'm assuming if I pay the above - my scores should increase and I should be able to qualify for more 0% BT options. Let me know if you think the latest is the best plan. Thank you! Thank you!
  12. BoA is for a pre-qualified card up to $7495 for 1.9% BT until September 2007. This one expired at the end of Jan but I know I have another one here for March. They send them to me every month. Now if I need to leave balances on one or more of the cards then it is within my best interest to leave them at 30% to get the max FICO score, correct? On cards that I am transferring to BT - I need to leave $100 on there and pay them off in 3 months to also increase my score (?). I need to call in the amounts today. I'm not sure if I'm approved or not - they did the appraisal and I have escrow papers so I assume everything is being processed. BTW - how much should closing costs be? They are telling me it should be around $5K or maybe a little less. Is this standard? My sister-in-law is doing the loan (changed careers and it's her first loan with the new co.). The last broker that did ours was a college friend from my husband and I recall their rate being much lower than that. I agree cards are going in a safe place so that we do not use them again. Off to call Chase and Amex Blue and let you know what offers I get. Thanks everyone! Great peace of mind to be directed by people who know the game.
  13. You rule! Thanks so much for your advice. I kept getting the BoA offers but never applied. Won't it look bad that I am applying for more credit with the refi taking place? Please clarify the % to leave on cards and pay off to boost credit score. You mentioned leaving a small balance on cards and paying off in full w/in 3 months. Does it have to be 3 months or can it be w/in 6? Also how small of a balance should I leave? I will do the footwork tomorrow and see what I come up with. I'll let you know. Thanks again!!! Will touch base manana.
  14. so would you suggest asking Amex Blue if I could get a 0% BT offer or wait to see if I get one in the mail from another company? Basically - the idea is to see if I could get a low interest rate BT from one of the cards I currently have and pay off what I can with the refi $. Then whatever balance I have on the remaining card should be transfered to a low rate BT card. I currently have an offer from BofA for a 0% offer - should I pursue that or use that to my advantage when requesting the rate with the cards I already have. Thanks for the info. This helps in keeping my scores in tact. Our goal is to have an EXCELLENT rating so that we can move into a bigger house next year and get a great mortgage rate. I'll let you know how I fare with Amex Blue & Chase tomorrow.
  15. Ok so I'm a little confused. What is a BT? I spoke to Chase earlier and they said they do NOT give any payoff amounts AND I am NOT eligible for any reduced interest. My credit limit is $100 over the limit so she said that they MAY consider it once I get under the limit. I, of course, told her I would call back and speak to a manager to get the help I needed. I really don't want that line of credit opened at 27% so think that I should probably pay that down. Is it better to pay all my cards down so I have lower utilization or should I start by paying a few off in their entirety and then trying to switch the remaining balance or cards to a lower interest rate card? I did not give my balances to the broker yet. Will give them the info tomorrow once I figure it all out.
  16. Thanks Elysse. My interest on them are: Amex Gold - 18% Amex Blue - 7.9% Chase - 27% Beneficial Line of Credit - 27% Best Buy - 22% Sears - 22% I'm thinking of paying the Amex Gold off in its entirety and the Beneficial off since it is a high interest rate as well. I'll pay most of the Blue off but leave a small balance and see if I can pay 1/2 of the Chase off so that I can negotiate a lower interest pmt. Was on the phone with Amex earlier and the Blue was actually at 30% and they lowered it to 7.9% when I talked to them about making a large payment. Yay! I think I will try the same with Chase - leave a small balance and get them to lower my interest rate. After that - I'm hoping my score will increase and I can negotiate with the others for a low interest rate so I can get them paid off. If you have any new suggestions as to how to disburse the $ now that you have that info - let me know. Happy St. Pat's Day to you too - my son was born on that day so of course I am partial. My wee little Brady will be 3 yrs old this Sat. Thanks again!
  17. I am currently doing a refi and taking $35K out to pay off cards. Presently my balances are as follows: Amex Gold - $17,300 Amex Blue - $10,000 (maxed out) Chase - $6,000 (maxed out) Personal Line of Credit - $5700 ($8000 limit) Best Buy - $2100 ($5000 limit) Sears - $400 ($3000 limit) The interest rate on all are high. I would like to hit both Amex's and the Chase. Would it be better to pay a few off in whole or spread the pay-offs b/w all cards to get my debt-to-ratio lower? Also - does anyone know if Amex will take 95% of total owed as paid in full? Please advise as to the best way of splitting payments up and increasing my score. I have to get back to my broker today with the payoff amounts. Thank you!
  18. Does anyone know? We're looking to buy a new car and want to take advantage of the 0% financing. Thanks!
  19. For all of you out there who have settled on cc accounts with OC - what really happened to you in the process? How much did it affect your score? If you were issued a 1099 how much did you have to pay in taxes towards the unforgiven amount? How much did it affect future creditors that looked at your report? We are about to settle on one of our accounts and I wanted to find out what the real disadvantages are. THe account has MANY MANY lates reporting and has already affected our credit score. Currently there are positive lines that are reporting on our CR and I am just wondering if it is worth saving the extra $ to settle for a lower amount. Please let me know how it all worked for you. THank you!
  20. I need a # or specific Department to speak to at Chase regarding my interest rate. Anyone have a contact or know who the right people are to talk to that can actually DO something???? Thanks!
  21. I got a CC from Chase a few months ago - specifically b/c received the 0% offer for 18 months. First payment was due last month at which time I attempted to set up online payment option. Could not get it to work so I called them and spent 25 minutes on the phone with a rep who helped me set it up. Now I have all my cc's set up online for payments and have NEVER had a problem. I always use my debit check card and have been paying online with it for years. Needless to say it asks me for my info and also the checking account routing # which I thought odd but I input all the info. It processed said account valid and then I proceeded to make the payment. Lo and behold I get a letter from them today stating that my payment from them had been returned based on the fact that my account was invalid. So I immediately called and asked what the problem was and they told me that I owed 2 months worth and was considered past due and that my 0% interest rate was no longer valid due to the terms of the card and me being late. I made the payment online on Oct. 25th and the letter they sent me was dated Oct. 30th (but I didn't get it until today). Needless to say - the $ was in my account when I checked with my bank and my bank stated that nothing had gone through from them in terms of a payment. So I called Chase back to discuss and the CSR told me that what happened is I had input my Visa Check Card and not my Checking Account # and the system does NOT accept Visa Check Cards. I then asked why did it process my payment then if it did not accept a Visa Check Card? They said it happens often and that he would send me over to the Internet Dept and we could resolve it. I then get some chump in the Internet Dept who tells me that the system canNOT differentiate b/w a check card and checking account so sorry but the only thing they could do was remove the late fee but once the payment is processed and goes through the system and is returmed it is considered late. I ask him to transfer me to the Payment Department to resolve this issue and tell him that "if their system does NOT differentiate b/w the two why aren't the consumers notified of that when registering online?". Instead they wait a week to make sure you are really overdue and then stick you with a late pmt and hike up your interest rate and let you know that you are late. He said that there is nothing wrong with the system - they are working on fixing it so it can tell the difference but there is nothing that can be done and even if he transferred me he there is nothing anyone can do about my interest rate going up b/c I was late. AHHHHH! At any rate - I hung up with the guy and told him thanks but obviously he is NOT the person who can help me and I would call back tomorrow. Does anyone out there have a number or know the right Department I should be calling? Is it just me or is this TOTAL BS??? Someone please give me a # so I can call and get this thing straightened out tomorrow (or better yet give them a piece of my mind)! Evil or Very Mad Sorry for the long winded email but just wanted the story to be clear so everyone knows what I'm up against.
  22. I got a CC from Chase a few months ago - specifically b/c received the 0% offer for 18 months. First payment was due last month at which time I attempted to set up online payment option. Could not get it to work so I called them and spent 25 minutes on the phone with a rep who helped me set it up. Now I have all my cc's set up online for payments and have NEVER had a problem. I always use my debit check card and have been paying online with it for years. Needless to say it asks me for my info and also the checking account routing # which I thought odd but I input all the info. It processed said account valid and then I proceeded to make the payment. Lo and behold I get a letter from them today stating that my payment from them had been returned based on the fact that my account was invalid. So I immediately called and asked what the problem was and they told me that I owed 2 months worth and was considered past due and that my 0% interest rate was no longer valid due to the terms of the card and me being late. I made the payment online on Oct. 25th and the letter they sent me was dated Oct. 30th (but I didn't get it until today). Needless to say - the $ was in my account when I checked with my bank and my bank stated that nothing had gone through from them in terms of a payment. So I called Chase back to discuss and the CSR told me that what happened is I had input my Visa Check Card and not my Checking Account # and the system does NOT accept Visa Check Cards. I then asked why did it process my payment then if it did not accept a Visa Check Card? They said it happens often and that he would send me over to the Internet Dept and we could resolve it. I then get some chump in the Internet Dept who tells me that the system canNOT differentiate b/w a check card and checking account so sorry but the only thing they could do was remove the late fee but once the payment is processed and goes through the system and is returmed it is considered late. I ask him to transfer me to the Payment Department to resolve this issue and tell him that "if their system does NOT differentiate b/w the two why aren't the consumers notified of that when registering online?". Instead they wait a week to make sure you are really overdue and then stick you with a late pmt and hike up your interest rate and let you know that you are late. He said that there is nothing wrong with the system - they are working on fixing it so it can tell the difference but there is nothing that can be done and even if he transferred me he there is nothing anyone can do about my interest rate going up b/c I was late. AHHHHH! At any rate - I hung up with the guy and told him thanks but obviously he is NOT the person who can help me and I would call back tomorrow. Does anyone out there have a number or know the right Department I should be calling? Is it just me or is this TOTAL BS??? Someone please give me a # so I can call and get this thing straightened out tomorrow (or better yet give them a piece of my mind)! Sorry for the long winded email but just wanted the story to be clear so everyone knows what I'm up against.
  23. Thanks for the site but does anyone know if they lower interest rates? I would like to try that route first since I already have the card and high credit limit with them. Anyone??
  24. I have two Amex cards - one gold and one blue. I got the blue a few years ago and have an EXCELLENT rating with them (my gold also). THey have increased my limit and always call to tell me what an excellent customer I am. No lates and always pay on time and above minimum payments. I know this sounds stupid but I just realized that my rate with them is 28%! I get my statements online and have lost check b/c my score is good and never thought about it. Is there a way to call and ask if they will lower my interest rate with them? Do they do this??? My scores are pretty high - TU is around 700. I just find out ridiculous that I am paying 28% interest on this card - my balance is about 4K and I'm wondering if I should try to apply for a new card with a lower balance and tranfer. I love Amex - they are GREAT to deal with and wonderful to have on your CR but at 28% - what's the point? I would appreciate any input that any of you have. Thanks! ~ Heather
  25. My husband currently has an account with MBNA for about $9,000. To date in the last 48 months there are 15 - 30 day lates, 4 - 60 day lates and 2 - 90 day lates reporting on the account. We now have the $ to pay off the account. Should we pay the full amount and try to negotiate for removal of all lates? Or since there are so many lates reporting and his credit is shot anyway - should I opt to settle the account? It's currently 4 months past due and the interest rate has been at 28% forever it seems. We have been paying them about $178 a month in interest for years now. Want to get rid of this once and for all. What does everyone suggest? Pulled my husband's score off of TU today and it is 579. NOt good - but if his credit is already bad - what's the use of paying the full $9K if it will still report with all those lates. Heard MBNA is a nightmare! Please help!!! Would love good solid advice. Thanks! ~ Heather