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Everything posted by orgaknight

  1. After 7 years, I finally got to see an old disputed bank account $400 (mostly in fees and compounding overdrafts) drop off all three credit bureaus. The original bank A was taken over by another bank B which turned around and sold the debt to a collector, who expired at the 7 year mark. Now here's my situation. After clearing off the three credit bureaus, A collection agency sends me a letter stated that they are the new collector of this debt and want to settle for 40% of the amount. They haven't posted the collection on any of the 3 Credit Bureaus yet, and I don't want them to. Do I: 1.
  2. I think anybody that gets the variable interest card message should send a strong message by closing their accounts. We need to fight back against the greed that the card companies manifest with their ever rising interest and fees. I will be paying my two cards off and closing the accounts.
  3. Well, Household sent me these two informative postcards that announced that they were changing terms on my two credit cards from a fixed rate to a variable rate after "reviewing my credit report". Funny, my credit report is much better than when I got the cards, but now they are punishing me for never missing a payment and improving my credit. I am wondering if I should pay these two cards down and just take it on the chin and close them out? I know that if I just pay them down and keep them low, my credit line will be reduced and this will also impact my credit negatively. Any thoughts on
  4. I hope with the Democrats in charge, maybe some changes in the consumer credit laws can be made to protect consumers. Folks, it does not make sense for debt collectors to be able to charge interest on a "CLOSED or CHARGED OFF ACCOUNT"!. Closed, means that the consumer no longer benefits from the account, and is likely suffering credit damage costs from the negative listing on the CRA account. If the consumer no longer benefits or has activity with the account, interest should not accrue...PERIOD, especially by a third party! My other beef is with the concept of selling or transfering a d
  5. I am an expert at using Scorewatch and have used it for a couple of years now. Believe me, something has changed because I didn't get alerts like I used to. Now it seems to only happen at the same times every month, like some kind of a cycle. I wonder if they made behind the scenes changes to their monitoring system, where it only spot checks your record. I know this is probable, because I also have True Credit which I check everyday and can see when changes occur. I discontinued my Scorewatch service and will only pull FICOs when I need them.
  6. Interesting development in the screwed up old defaulted paid student loan saga. They are all gone from Equifax. The Nelnets are gone from TransUnion but the OSFA listings still show, but have changed in status to current and paid so I will leave them alone, since they are now positive entries on my report. Unfortunately, this leaves Experian, which dropped all but one of my Nelnet listings, which I hope just means that one is off by a month or two (they should all be the same). Experian has also kept the OSFA listings and they remain in the default status. All I can do is wait it out, as
  7. Yes, I'm opted out, but I don't understand why this insurance company that I have nothing to do with, is soft pulling my credit report.
  8. I am stymied as to why Mutual of Omaha is pulling soft inquiries on my credit report? I do not have any business with them or any of their products, but they are pulling soft inquiries every three months? Why are they doing this? Any ideas? I also noted another insurance company, providian also pulling soft inquiries. Is it a conspiracy???
  9. Amazingly, the Equifax report from a year ago, that they originally approved my card with, was far worse (FICO 560) with a lot more baddies, that have sinced dropped off. I only have 4 negatives on there now (FICO 609), which will all clean next April. I have 10 positive accounts that date back as far as 4 years ago and NEVER LATE! My credit rebuilding has been VERY slow thanks to defaulted student loan accounts reported 2x for each semester and a divorce which put me the the financial bind that led to this in the first place. I am just seeing the light at the end of the tunnel, but now re
  10. I have finished my first anniversary with the Walmart Credit card with a whopping credit limit fo $125. I have only recieved one ($25) increase during the entire year. I called them today and complained. I have never missed a payment and yet, get treated like cr*p. I want to close this account, but know that would hurt rather than help my credit, which I am trying to get to the sweetspot for home buying. The supervisor told me the credit bureau is the problem but I don't get that, because my credit now is much better than when I first got the card. Who knows? Fakos: 609 Equifax, 630 Exp
  11. Just some info to support my assertion. Sit back and watch the trend unfold. Between online learning and Community Colleges getting into the act, hopefully Universities will rethink strategies of jacking up tuition and encouraging students to get into deep debt and maybe reforms will come to make education more accessible to those who seek it, and not just based on economic station. Chipola Community College: An Article: Florida Community Colleges Apply to Offer New Bachelor’s Degrees Five Florida community colleges have applied to
  12. With all due respect and with no intent to flame, this is an area that I can speak with expertise. Some Public Florida Community Colleges are indeed starting to offer 4 year degree programs. They are as of yet, small in number but I expect the demand to grow as Universities price themselves out of the market. Tuition is raised more times and at a higher percentage than people recieve in raises within their jobs. It's only a matter of time before the wallet will be stretched to the limit. I am in school yet again but am shocked at how much expenses have risen in just the past 20 years. Te
  13. Too many students find it way to easy to take these loans and borrow way more than they need. When they graduate with their degrees, they often find that their earning expecatations are not met and are now saddled with paying these high monthly payments that are essentially causing them opportunity cost. I would much rather see students get GRANTS and low tuition education and prosper in their adult lives. I'd rather see that payment go into their retirement fund so they can afford to live when they are no longer able to use that sheepskin to pay the bills! Education costs are getting out
  14. (to borrow a bit from an old movie) Beware the Student Loan! For it is the devil's pawn! Among this nations traditions, it is applied for in hope, in trust, by lead. Yea it will take away your later opportunity, and shackle you! Let it not breed in great numbers, for it made a desert of my life, and will yours! Shun it! Drive it back into it's false lair! For it is the harbinger of DEBT!
  15. Only TrueCredit, to my knowledge, allows for daily pulls. My Fico only gives you two per year and supposedly monitors your Equifax report daily (and score), but I am beginning to doubt this.
  16. Lately, it would appear that My FICO really doesn't monitor your FICO score changes daily. There is even a setting on the Alert settings that lets you set an alert for when your score changes. I became suspicious when several changes occured to my Equifax report which I monitored through True Credit, and was surprised that my FICO score remained unchanged. I went ahead and "bought" my report and score and whoopee dee doo...whataya know...the FICO score changed! Folks I think some of these "Credit Monitoring" services are taking us for a ride!
  17. The important thing is that it IS NOT 7 Years after it is paid off by the student!
  18. That answers the question. I looked at the act when I googled the FCRA and could not find that information, by the way. I must have looked at the wrong version. Thanks.
  19. We need definative citation of case rule here, if there is any, because this is a grey area. I believe the DOFD should hold, if the loan is paid. People should not be punished an additional seven years after they pay a debt, because they are already punished from the first day a negative is posted on their credit report. This punishment is the opportunity cost caused by negative credit.
  20. The Education Act does not regulate the credit bureaus, the FCRA does! The Credit Bureaus need to be held to what is in the FCRA and should not be referring to any other act that does not regulate them...Right?
  21. But you are wrong. She is not saying the date of default, she is saying: "The reporting SOL is 7 years from the date the default claim was paid." which is to say, 7 years after the defaulted loan is PAID! This sucks, dude! I hope and believe she is wrong, because although it may stipulate that in the US Dept of Ed act, that rule does not govern the credit bureaus, the FCRA does. No where in the FCRA does it say that the 7 year clock starts after a defaulted loan is paid...or does it?
  22. I just want to know, please? 1. When the clock starts ticking for defaulted student loans? Is it the first 30 days you are late, or is it 90 days, or is it when it is in default status, or is it when it is consolodated and paid as date of last activity? 2. Is the clock a 7 year clock from date of delinquency, or is it a 7 year clock from the date of consolodation? I'm not even shure the credit bureaus or student loan people know. The FCRA only states that the loans can stay on indefinately until they are paid. It appears that they have to follow the seven year rule from date of delinquenc
  23. The tax lien could stay on your credit record for seven years, after it is paid! Contact your local congressional office and ask to be referred to the office of the Taxpayer Advocate. The Taxpayer Advocate has the power to stop the collection process in it's tracks and give you the breathing room to negotiate a better deal. State that you are in repayment and that the tax lien is a unnecessary hardship and you want it withdrawn! The Advocate can arrange a new repayment plan with the stipulation that no lien will be filed as long as the repayment agreement is being followed. The "withdrawn"