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About badcreditsucks

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  1. I have a private student loan that has been sent to collections. I have auto pay set up and I plan to and have been paying until an unexpected death in my family happened and my income took a big dip. My question is: How do I get this loan off of my credit as a collection? I want to buy a home next year and to have this huge collection sitting on my credit report is definitely not a good thing. Should I try to settle the account? Balance is around 26K, what would be a good amount to offer? I think when I set up my payment arrangements they were willing to settle for 21K...uh, no. If there are companies out there that specialize in this type of thing is "refinancing" a possibility? I'm sure most companies don't want to assume the risk, but I have been paying on time for the last 2 years with the exception of 3 payments. Any help is greatly appreciated.
  2. So what did you end up doing? I am facing a similar situation.
  3. I am considering sending a few of my credit card companies settlement letters. I am wondering how much I should request the settlement amount to be and whether or not I should try to see if they will accept a few installments on the settlement amount. The balances are: $1745 on a $1550 limit (have been paying on time for past 5 monthsbut was late 4 months prior - I hate this card!!) $1390 on a $1500 limit (was on repayment plan which I paid satisfactorily to get me under credit line) $1358 on a $1450 limit (this card cannot be used because I set up plan with company, but is still in good standing so to speak) $769.00 on a limit of $700 (Household Bank) $590.00 on a limit of $600 (Household Bank) My next questions is, should I start with the smaller ones first or the larger ones? (I don't want to send out 5 letters and they all say, okay, pay x.xx by the end of the I was thinking more on the lines of paying off one each month if they give me the amounts I request. I was thinking about starting with the smaller one and then use the pymts from those to pay the larger ones. Third and last question, should I also request pay for delete as I think having paid for less than amount owed is also as damaging as not doing anything. Any help is appreciated and thanks in advance.
  4. moving post to debt settlement section.
  5. I was just wondering should I dispute a BK that was recorded on 9/2003 with the hopes that it will get deleted? From what I understand it has to remain on credit report for 7 years or does it even matter if it is deleted or not due to it being on there for so long already?
  6. Is it better to pay down credit cards first or negotiate for settlement/deletion of medical collections? My medical collections are around $1400, but if I put the money that I would settle with them towards my credit card debt, I think that would have a greater impact than getting two collection accounts possibly deleted. I know medical collections aren't considered so much when applying for a mortgage anyway but they do effect my credit scores. My second question is, I have a $22,000 medical bill that is not on my credit report and I am making very small payments on it. Asset Acceptance asked if I could do some sort of settlement on the debt - any kind of settlement offer would be considered. With the state of the economy and my finances being a self-employed person, what would be a very low-ball figure to offer for a settlement on that large of a debt? Or should I just keep paying what I am now since it is not affecting my credit at this point and deal with that after I get the credit cards paid down?
  7. I recently checked my FAKO scores and they are totally tanked!! Myself being a self-employed, uninsured person had an unexpected hospitalization in January 2008. I got a ton of bills from doctors who just walked in the room and tapped my leg and said how are you feeling. I was paying $25 a month on each of them until there were too many to keep up with. I noticed that a few of them that have made it to collections don't show "medical collection." I am not trying purchase a house or anything like that in the near future, but I always like knowing that I have a decent credit score should I decide to do such. How important is it for those account to reflect that they are medical in nature? I know that medical collections may be looked upon differently by banks and mortgage companies with certain documentation of hardships, but short of sending a PFD letter to the ones that I can possibly pay now, is there anything else I should do to try to get my score back up?
  8. Does anyone have a contact name or address for a higher up at T-Mobile? They are really screwing up my account and I am going to send a letter to see if I can get this crap resolved. I know there use to be a website that had a lot of the names of CEO's and such, but I haven't been on here in a while and forgot the name of it. Anywho, any help would be appreciated. Thanks in advance. **Update** I found the name of the company that helps with letters to CEO's and such, Planetfeeback (PFB, as it is also referred to.) I am going to give them a shot, however, I am still open to other suggestions from the group.
  9. I recently paid off a small $22.00 collection (which turned into $28.00 after their fees). The website told me to check back in three days for a paid in full letter. Three days go by and I go back to the website only to find that in order to print the paid in full letter, you have to pay $2.00. Now the $2.00 is not the problem, obviously, it's the fact that when I called the company to request one be sent via mail they told me they do not have to send me a letter and that the only way to get it is to print it out online and pay the $2.00. I think this is just wrong. By the way the company is CMI.
  10. I am a recent graduate and I am considered self-employed (1099). I am trying to purchase a vehicle, however, most finance companies want to see two years income tax returns, which, obviously, I don't have. Does anyone know of any bank/finance company that would provide a no income verification loan for autos? I have already tried several, Capital One, HSBC, Roadloans, etc. They all require tax returns. I did, however, get approved for GMAC at the dealership, and they did not ask for any income documentation, but they are expecting a big down payment of $5000 also. Any help would be greatly appreciated.
  11. Cap 1 pulled softs on me, and lo and behold, I got a $200 CLI; although I have read that they don't "do" credit line increases. But, nonetheless, I'll take it.
  12. Depending on what state she is in, it is considered grand theft, and the rental companies can and do file charges. Mostly, this is done after attempts to locate the renter/merchandise are exhausted.
  13. My Household card apparently just reported today. According to my FICO scorewatch, my score went down by 13 points, because of the high balance reporting. I was planning on paying it down to 30% before the end of the month. I wanted the high balance to report with 30% utilization. So be aware of that because the reporting date may vary from state to state.
  14. I have a vehicle that was co-signed and I and the co-signer both filed BK back in 2003/2004. The vehicle is now paid off and the title was issued to me in December of 2004. The title only listed the finance company as the (former) lienholder. I go to get co-signer's name off of vehicle and I am told by the tag office that there is a lien from American General. I contact American General and they said that my co-signer used the vehicle as collateral. He says he used household items (still trying to dig up his paperwork to prove otherwise). AG says they won't release lien until his acct. is paid off. We both listed AG in our Chap. 7 BK. Is there anything that can be done, short of paying the amount they say is owed? Secondly, can a company knowingly use a vehicle as collateral if the vehicle is still being paid on?
  15. On almost all of my credit cards it states that if I am late in paying on any of my credit cards, my rate will adjust. So, of course they are monitoring our reports, just waiting for us to make a late payment, etc. You might want to check your cardholder agreement to see if it states as such.