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Ahntara

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Ahntara last won the day on April 6 2008

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core_pfieldgroups_99

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    Credit Repair Professional

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

500 posts and hasn't been banned yet.... (6/6)

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  1. Apples and oranges. The original loan amount is a footnote in trying to (re)finance the balance of what is owed. Original loan was 110k You're currently seeking 88k Lenders will look at the improved DTI & LTV ratios but won't really care about how much you paid down a previous lender.
  2. These vendors have done a good job at creating consumer demand for something worthless. Just want you to know, you don't have a score. It's a calculation that is performed when you or someone else requests it. Pay me $30 and I'll work up some numbers for you too. Each aspect of the lending industry has a score (never available to consumers) that is skewed to their industry. If you're going to obtain a loan, especially the expensive stuff like a mortgage or auto loan, then it behooves you to know an approximate score and get it as high as possible. But to just watch it? Dude, spend your money and time on something pertinent. But if you wanna ignore that advice, then at least don't pay for those numbers.
  3. Had to edit like crazy to understand but think I'm following you now. 1) Original HSBC collection/charge off account 2) sold or transferred to Calvary 3) Lawsuit filed but dismissed These are three separate aspects. They would rightfully show as three different entries, now two since the suit was disposed of in your favor. Thinking that you can deal with one and that all others would automatically be included is customary. But the lawyer you engaged did what you paid him for, he got the lawsuit dismissed. There is no reasonable expectation that he would know to cover the HSBC or Calvary tradelines. They are, to the best that credit reports can reflect, what actually happened with this account. They both should have a zero balance to be accurate. That being said, it's well worthwhile to write some letters of dispute to see if these can get shielded from view. Be aware that if your dispute is unsuccessful, the update of the Last Reported Date may cause a decrease in your score. If you don't plan on opening any new credit accounts soon, then give disputing a chance.
  4. Long time to go with no response here. But I'm thinking it's the lack of data here. You need to specifically list what is showing and all the details of HOW it displays. Is this showing on a merged credit report? It could be that one bureau shows the lien filling and another shows the release. Ideally, this should display as one item with both the paid date and the disposition (which is a Release of Lien). Think of the Release as a divorce decree. It's a separate legal item and should be recorded in public records as well. But for the disposition to show as a separate item is neither unusual nor incorrect. It's still in your best interests to get this consolidated into one entry.
  5. If you have access to mortgage paperwork, refer to it for more clarification. It's comprised of two (primary) components, a deed which grants you rights to the property and the mortgage note which is a lien. Mortgage lenders want their lien to be exclusive. Consumers have gotten 80/20 mortgage loans. It's a tactic used in the big-scam days prior to 2008 that allowed consumers to obtain loans when they didn't have the 20% down payment. So the 80% LTV note (lien) would be in first position when recorded, the 20% in second position, both secured by one piece of real estate. For the mortgage company to foreclosure, legally they would file on the 80% loan first, then the 20%. Judgments, once recorded, become liens. That's why they get recorded. (I'm being simplistic) A valid judgment against you would attach to any real property recorded prior to the lien securing the property, thus placing the judgment (even if it's pre-existing, even if it doesn't appear on your credit reports) in first lien position. This is the worst surprise for a mortgage lender to know their investment is not secure. It would thwart their ability to foreclose. hopefully that made sense
  6. Do you own a home currently or are you planning on obtaining a mortgage loan in the next 10 years? Judgments appear on your credit report because of the impact they have on real property. In the few seconds between a deed and lien being recorded, a pre-existing judgment will attach to property in first position. Obviously, mortgage lenders want not only first lien position but prefer to have nothing else secondary to their interests as well. Additional liens can make foreclosure difficult, costly or impossible. So it's really NOT in your best interests to have judgment removed from your credit reports. As stated above, even if this gets accomplished, the legal item still exists in public records and should get picked up again and reinserted into your credit file. Some things you really don't want suppressed.
  7. We all hope to find the pot o' gold at the end of the credit repair rainbow. If this agency actually fulfills this promise, hooray! A a few things to be aware of... As stated above, collectors are notorious for lying to get paid. Data is furnished electronically and most have no knowledge nor access to change this. The only thing a collection agency is required to do is to update the balance. The update is what causes your credit score to lower by making the account appear to be more recent to the scoring software. Be aware that Data Furnishers have contractual agreements with the CRAs prohibiting removal of tradelines in exchange for payment. This is why most will tell you they can't do that. I don't want you to become as cynical as the rest of us. But we'd rather warn you ahead of time than advise you on how to deal retroactively. Since it seems there's reason to believe this company might actually follow through, I'd recommend having them sign (notarized signature of a company representative) a Nondisclosure Agreement in exchange for payment. That way, if they don't do what they've said they would, at least you have valid grounds for a lawsuit. I wish you luck with this.
  8. iza, ask your processor to seek an 'exception' to having this changed or removed from your CR. It's no more material to the loan you seek than it is to the TL itself.
  9. Did you check the score range? It's been a long time since I've seen them, but I remember that they started/stopped at different places (350 verses 400). That alone could account for the difference.
  10. If a consumer moves out of FL, or one of the other states wherein this is applicable, and doesn't move back, the SOL runs out at normal expiration. The consumer might be sued under their new state's law, or under prevailing state law listed in the contract or account agreement.
  11. Don't be sorry...you're in the learning curve. SOL has little bearing on collection efforts. It's about being sued and the ramifications. Collection efforts can continue pretty much indefinitely, unless you're in one of the 2 states which also have a Statute of Repose. California isn't one of those states. SOR details that once SOL has expired - the debt is extinguished. THAT stops collection efforts, along with paying the underlying debt. The expiration of SOL also doesn't guarantee you won't be sued. You would have to go to court and raise the post-SOL defense. "...Isn't reporting...an act of collection..." Nope. Reporting is reporting. It's covered under the FCRA. Everything you need to know is there. It's recommended reading. You should be able to search the internet for California SOL law. I'd recommend that you read as much as you can. An exampe: In Florida, making payment arrangements can reset SOL, along with moving out of state, then back to the state - that tolls SOL for the time period the debtor was absent from the from the state.
  12. Sounds like a good idea, but if we're knocking at the door of Congress - there's other stuff with much higher priority.
  13. Apples and oranges. SOL is state law which details the time period a valid lawsuit may be filed to recover money owed and lays out the ramifications, which may include wage garnishment, bank account/asset seizure and liens against real property. It varies by location and by account type. There are actions a consumer can take which may reset SOL. You need to become familar with your state's law to find out what those are. I've never heard that disputing is one of those, but you should find out for sure in your specific case. SOL has little bearing on credit reporting. Reporting Period is detailed in the federal FCRA 1681c, Subsection 605. The FCRA regulates the info which appears on your CR. "...reporting every month...make...worse..." Updating a derogatory account makes the TL 'worse' only to your credit score. FICO-based programs mistakenly use the 'date last reported' to gauge the recentness of the collection. It's a glitch, but one that works in the favor or lenders/creditors, so it's unlikely to change. When a consumer disputes a derog TL, it's either suppressed or updated to reflect the results of your dispute. It's up to the Data Furnisher whether they wish to report once or report each month for the full RP. Unfortunately, you're experiencing the latter. But it's not illegal
  14. You may wish to take RN's advice and not 'open the door' but definitely pull your head up out of the sand. "...can't put it on my CR..." Wrong. It can go on your CR as a tradeline. If the Medical Service Provider sues and gets another judgment, the matter multiplies and becomes two derogatory items - one in the TL's and one in the Public Records section. That's twice the damage. "...neither...signed any paperwork agreeing to be financially responsible..." That doesn't matter. If he received treatment, even 'ordered' treatment, he is liable. And apparently, in your state, as his spouse - so are you.
  15. I second the thought to find a different lender. I realize that's probably easier said than done especially in today's volatile financial climate. But the comment your current lender dislikes is one of status and shouldn't impact their underwriting.
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