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ibdeujo2

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  1. Hello appobene! I am not sure if you live in Oregon or not, but the below list pulled Equifax for me: Target (621) limit $200, after a year, they upgraded me to a Target Visa at $1000 limit. Chevron (625) limit $600 WalMart (647) limit $400 Legacy Federal Credit Union (for auto loans/lines of credit) At the time I applied for these cards, I had no judgements or collections and my scores are in the parenthesis above.
  2. Hello all! I followed the advice by posting a question for Firstsource and he basically answered my question for me with this quote, "Before I answer your question, some background. There are several types of conventional (non-FHA-VA type loans) and they are loans that conform to Fannie Mae/Freddie Mac guidelines. There are also non-conforming loans-called Sub-prime (and a catagory between prime/conforming and sub-prime-just to keep it confusing) With your collection not paid, you would not qualify for a conforming type loan. So your options are to pay the collection at closing or to go to another type loan-either "Alt-A" - the middle one, or sub-prime." So, with this information, I contacted BofA and guess what? They told me this was a conventional loan, so I know I have to pay this. So, I started the loan process today and my lender stated she will contact me by Thursday with the outcome. However, I am going to call her tomorrow and ask if I could pay this account at closing. Also, I want to let you all know that as expected, this collection account came back verified from TU (as we thought it would) but, in a strange twist of irony, my credit score increased from 636 to 656! I am not sure why but I figured, this is the highest my TU score has ever been. Thus, I started the loan process today. I will keep you all posted with the outcome.
  3. lefty and hartson, I COMPLETElY agree with the both of you about having Charles process my loan. The one and ONLY reason I have not done so is because I have signed up for a first timebuyer's program in the state that provides low-moderate households with reduced rates (loan processing fees, closing costs, points, etc.). The program also provide preferred lenders and realtors I would have to go through in order to take advantage of the perks. But, I have conferred with Firstsource and told him if all does not work out, I will definetly be contacting him.
  4. Firstsource, you are so knowledgeable! Thanks for your reply and was actually able to understand it. This mortgage business is all new to me and I am glad that you provided me with the different types of loans availabe. I am contacting another lender today to find out what type of loan their "stated income" loan actually is today. I do know she said that it is one of their portfolio loan products. However, once she responds to me, I will now no at what time I need to pay the collection. Again, thanks.
  5. Hello Firstsource, (or anyone that could offer advice) I was informed by a fellow CIC consumer to post a message for you here to get your opinion. I was told by a bank lender prior to applying for a mortgage I would have to pay the below "dental collection account." His theory behind this is because the lenders do not want to risk a consumer foreclosing on a home because they are unable to satisfy unforseen debts. Here is the account info below: CA: Metro Area Date Assigned: March 2001 Date Reported: October 2001 Amount: $2109 Bal: $2109 Date Paid out: Not on Record Date Closed: Not on Record At first, I was puzzled but figured since he is a reputable lender in the state, I decided to take his advice and follow suite. Thus, I DV'd the debt on May 26, 06 and just received some validation of the account. Only now, the balance went from $2109 to $3100 ($1K in interest). The sad part of this is I vaguely remember any of the charges and they CA has not ever contacted me regarding the debt. Now that I have awakened the sleeping giant, I am afraid that my score is going to tank from 636 to the high 500 range and that I might be sued, etc. Many people that responded to my post under credit repair indicated they were able to obtain mortgages with opended collections some over $5k. My problem, I do not have any reserves set aside ( had to use them for a family emergency out of state) nor do I have enough money to pay this account. My question is, am I still able to obtain a mortgage with open collections? I am not applying for an FHA or government backed loan but an "undocumented loan" because my live-in fiancee has bad credit and judgements against him. What are you thoughts?
  6. Thanks to have replied thus far. Your opinions and advice is greatly appreciated. Ahntara, this actually is a dental account but I was told that dental and medical are both classified in the same category. Sadly enough, it was actually a bank lender (not a broker) telling me this open collection account must be paid prior to receiving the loan. His theory behind this, the bank does not want to risk losing money by a consumer foreclosing on a home because they are unable to satisfy an outstanding debt; because most firstime homebuyers do not have reserves saved to pay for unforseen accounts. Maybe I am not saying this correctly, so let me know if I need to expound some more. And I will be contacting another lender. kevin3344, I believe I was definetly getting the shaft from that lender. Now that I think about it, it appears he has been discouraging me from even obtaining a loan. And, I will follow your advice and post a message for Firstsource in the mortgage section. Methuss, by getting the item current, do you mean establishing a payment plan with the CA and begin making monthly payments would this constitute paid and current status? I am also assuming this method would work for creditors and CA's alike? If so, this would be a probable solution. You know, I just do not want to get sued or garnished for this account. I am on edge because should I get sued, I do not have $3K sitting around to pay this debt. I am sure, where there is a will there is a way. I'll keep you all posted on what happens next with the CA.
  7. Update.... I sent my first DV on May 26, 2006. I just received a ledger today from the CA regarding the dental treatment rendered. The letter they sent me states; "Enclosed is the copy of verification of you debt as you requested. We will update your file to indicate the verification has been provided. Amount: $2109.26 Interest: $1085.43 Total: $3194.69 My questions: 1. Does the SOL begin from the first date of service which would be March 24, 1998? 2. Does the SOL begin from the date of the first past due (delinquency)notice which would be March 23, 2000? 3. Or does the SOL begin from the date of the last payment on my account which would be Sept. 11, 2000? I have tried looking on the website to find out the SOL for medical debt for the state of Oregon but have not been very successful. I have heard people mention the UCC regarding medical SOL being 4 years but have not been able to find any literature pertaining to this. Because of what was sent to me today from the CA, I am sure the debt is mine. However, if it is obsolete, I do not want to go through the trouble of paying this account; because it could take me at least a year and this would also postpone my dream of homeownership. At times, I really think I should have let the sleeping giant sleep and let the account fall off my credit report March 2007 but because my mortgage lender told me I would have to pay it prior to getting a loan, I decided to tackle the account. After two years of clean up (with the help of all of you), this is the only negative entry on my TU profile. So, that is why I am trying to get this account resolved. Suggestions or comments anyone?
  8. Thanks NJGirl for you response also. Whewww, I am starting to feel better already. And, you are correct, the CA did come of like attorney's; go figure. However, I am going to give them the old "1-2" and get this account resolved. I am going to DV them, and if they validate the account, I will proceed to negotiate for settling the account by PFD. Now that I think about it, I had insurance the time service was rendered. So, eventhough the account is old, I will by myself some time by having them getting the account billed to the insurance carrier I had at that time. Also, should I provide the CA a HIPPA compliant release so they can obtain records from the dental office? Nevertheless, I am going to definetly send my DV today. Thanks everyone for coming to my call for help. You are all awesome.
  9. Thanks for the replies, I really appreciate it. justaguy, thanks for the link. However, I did not think the medical collections would fall under the types of contracts that are listed on the SOL page. Am I wrong but are medical collections the same as credit card collections? lyle7289, Honestly, if I had the $2109 to PFD, believe me I would do it in a heart beat. But, I am really struggling to stay afloat of all the living expenses I have. One thing I have not done yet is obtain the date the accounts were assigned to them. Should I call the CA back and inform the representative to also provide the date the account was assigned to them in addition to proving to me the SOL is not yet up? Or should, I send them a DV letter? I have not sent a DV request to the agency, I only disputed the account with TU. What should I do next? Thanks.
  10. I am so afraid that my somewhat "fair" credit score of 636, will go down the drain. Within the coming weeks, I am going to be obtaining a mortgage loan but was told by the lender I would have to pay it before they pull my CR. Here is the account info below: CA: Metro Area Date Assigned: March 2001 Date Reported: October 2001 Amount: $2109 Bal: $2109 Date Paid out: Not on Record Date Closed: Not on Record From reading this forum, I believe according to the UCC (four years), the SOL has passed? I have tried several times to look up this info for the state of oregon under services and goods but was not able to find the exact DOL date. In addition to the above, I disputed this account with TU earlier this month as "not mine" because of the UCC being passed. Today, I got a call from the atty's office/collector stating she received my dispute today and she would send me an itemization of all the charges accrued. She also said the services are really old but that she would get something in the mail to me by next week. BIG mistake by answering my phone this morning! Scared and realizing who the heck I was talking to, I ended the call without mentioning for them to also provide me that the SOL has not passed. (Because they collection agency is in ORegon, where I live, I know they are licensed and bonded. I checked the business registry already.) Would like to know what I should do next? Should I call her back and ask her to also provide me with proof the SOL has not passed along with providing me the itemization or should I send a letter to them? I am scared because I think my dream of getting a decent rate for my mortgage is gone, afraid because the collection agency might garnish my wages, and confused because I promised myself I would not allow this mess to happen to me again. Thanks
  11. Everyone, I have been reading your post and it sounds pretty similar to my situation with NCO. The only difference is when I done my debt validation, I sent it by email; directly to Lisa and I also cc'd Brenda Finlayson. In my email, I included my current address so they could reply to me by mail. It is really interesting because with only my name and current address, she was able to find "all" of my accounts with NCO. (I only thought I had one account ) Two weeks later, I received a letter from a Rebecca Penski, also part of the Legal Compliance Dept, indicating they have closed all of my accounts and have sent updates to the credit bureau's to delete their inquiries. So, be encouraged; I am sure things will work out for you as well.
  12. This is across the street from where my husband works. This isn't one of their major offices... it's mainly a call center from what I know. Thought I might throw that in. Hey Thanks Sky Warner for the FYI. I am just glad to know there is more than one address for NCO since their Horsham, PA office do not respond to DV letters.
  13. Thank you Trying*Harder for giving us the heads up for emailing NCO. I, too, followed suit and sent an email. Only I sent my "DV email" to Lisa Signore (in the legal compliance dept) and Audrey Atkins (another higher up in the corp) about two weeks ago and just today I received a letter in the mail indicating they are also removing their inq's off my CR. It is very interesting how a CA will promptly comply with deleting erroneous info off your CR once you enforce your consumer rights under the FDCPA/FCRA. Also, an additional address to write NCO other than the Horsham, PA add is: 150 Crosspoint Parkway, Crosspoint Business Park, Getzville, NY 14068. You might want to address the DV to the Compliance Dept. Good Luck everyone!
  14. Update. I called Patelco today, and talked to Kelly. She was very informative and able to answer all my questions regarding credit scores, which CRA they pull from, (Experian), etc. What it came down to is: since I am not an established member, with credit scores between 615-634 and no derog's on Experian report, I would be financed at 14.25% for the first year. If my credit gets better, the following year, I would be automatically approved for at least a 9% ineterest rate. Because my scores are in the low 620's, I am going to re-activate one of my TL's to give my scores a boost.
  15. ThePeacock, thanks for the contact information for Pateclo. I went searching on the web for their contact info and boy I got side tracked with all of the positive things being said about the corporation. I will keep you posted with the outcome of my conversation with them.
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