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Everything posted by orgaknight

  1. In a nutshell: 1. Student loans in default in 1999-2003. 2. Consolidated loans in 2003, and paid off old loans. 3. Old defaulted loans on credit report showing defaulted, transferred to Government and paid. When are they supposed to come off my credit report??? Is it seven years from date of delinquency/default, or is it seven years from when they were paid? I need a answer with citation if possible, so I can go to battle with Experian. It looks like TransUnion and Equifax are honoring the seven years from default, but not Experian, which also has inaccurate information concerning dates.
  2. Yes, I used them last year, for a couple of months but really learned that I could do the same thing they were doing more effectively and with less expense, thanks to this board. I thought it was interesting that the settlement wasn't monetary damages, but free services, that are questionable to begin with.
  3. I recieved this email and thought I would share. It almost looks like a marketing tool, but it could be legit? Anyone else get this? NOTICE FROM THE CIRCUIT COURT OF PICKENS COUNTY, ALABAMA You have been identified as a potential member of a class action lawsuit brought by current and former clients of John C. Heath, Attorney at Law, PLLC d/b/a Lexington Law Firm and its affiliates (collectively “Lexington”). The parties have reached a settlement of that class action (the “Settlement”), which has been given preliminary approval by the Circuit Court of Pickens County, Alabama (the “Court”). T
  4. You might be able to get them to withdraw the lien, if you were filing an offer in compromise, which is supposed to freeze collection actions until the offer is considered. I would also suggest getting a referral from your congressman/woman to refer your case to the office of the taxpayer advocate. You will need to let your representative know the circumstances as to why you owe, but they may refer you. The taxpayer advocate may be able to intervene, stop the clock and actions, giving you time to breath and fix your problem. They can also get the lien withdrawn (as if it never happened) a
  5. As you start to research, you will see that in the land of the free, it is extremely difficult, if not impossible to undo your american citizenship and extricate yourself from undue hardship financial obligations. There are so many treaties between the US and most free world countries that allow legal pursuit of expatriates. If you read up on it you will find that the only way to renounce your U.S. citizenship is in a U.S. embassy office in the country that you wish to be a citizen of, and the U.S. has the option of declining your renunciation (such as on the basis of unpaid taxes or any oth
  6. Unfortunately, most lenders will not budge on paid off, defaulted student loans. They also cite the law that says it stays on your credit report 7 years from the time it was paid or consolodated, not from the Date of Delinquency as other debts are reported. The good news is that once, paid, the damage is less, but unfortunately because they segment the loans and report them individually, you are hit multiple times (by design) for what really is a single issue.
  7. Interesting that no one else has replied to this? This is serious stuff! Many of us are looking at buying homes that are priced well over $150,000 and some may be hoping to attain that salary level or higher!
  8. Exempted cases. The provisions of paragraphs (1) through (5) of subsection (a) of this section are not applicable in the case of any consumer credit report to be used in connection with (1) a credit transaction involving, or which may reasonably be expected to involve, a principal amount of $150,000 or more; (2) the underwriting of life insurance involving, or which may reasonably be expected to involve, a face amount of $150,000 or more; or (3) the employment of any individual at an annual salary which equals, or which may reasonably be expected to equal $75,000, or more.
  9. I was curious after reading the FCRA concerning the exception for persons earning a salary over $75,000 and purchases amounting over $150,000. Does this mean that the seven year reporting rule does not apply here...that CRAs may report older information in these instances to future employers and banks when credit is checked? If not, what does it mean?
  10. Ditto on the fair and square! The clock is ticking and I am seeing the dawn of my seventh year of credit hell! At 46 maybe, just maybe, I will be able to finance my first house, if prices stop climbing to the point that they become out of my reach. Instead of living the American dream...I live the American nightmare!
  11. Funny you wrote: Hugh??? "No one has said that anywhere in this discussion and why would you infer it (unpaid debts never expire) ? Then you go on to say it: "At any rate, debts do not “expire”…they do become unenforceable in court (the SOL) and no one has said or implied otherwise." but you just said it, right? But moving is risk. Most of the time, people are able to pay for widgets and do...or businesses would not exist, would they? When the contract was made for procuring said widgets, both parties were in good faith making an agreement based on "CURRENT" ability to pay.
  12. oh and by the way, before you even begin to try to characterize me as a deadbeat, know that I: 1. Pay my financially crippling child support on time for seven years now ($1029 per month). 2. Consolodated and paid off my defaulted student loans. 3. Paid all debts incurred from the divorce that the creditor or collection agency agreed to delete from the credit bureau reports. 4. In repayment to the IRS for some 27k of back taxes ($530 per month) thanks to my ex wife's shenanigans with our personal finances without my knowledge. She has innocent spouse protection and I couldn't afford the lawyer
  13. The real problem is that one of you has the mind set that unpaid debts never expire...but I believe they should...and here's why. When an unpaid debt is posted as a negative on a person's credit report, it has associated costs to the consumer in the form of opportunity costs. These costs are materialized as increased interest rates, denied credit, limited employment options and other social costs that do add up over time to eclipse the amount of the bad debt. I'm must say that the damage done (opportunity costs) to me and others in this situation must over time, erase any moral obligation t
  14. I need help in deciding what to do about an old 1st Premier Account ($435) and the accompanying Arrow Financial Services Collection for the same with interest added ($847) showing up on all three CRAs. Both are due to drop off next summer, however I would be happy to pay one or the other, if I could get both deleted. Is this possible, or do I just wait it out? I have just disputed both of these with all three CRAs but have little hope of getting deletions that way, because both Arrow and 1st Premier seem to aggressively validate. Thanks for your help with this.
  15. Simply said...I am just another you! I am coming to the end of my seven years, after the divorce and even with all the strategies offered on this board, still have to wait out tradelines to drop off. Good luck! The best strategy I can suggest is we lobby our legislators to change the laws to require trade lines be removed when debts are paid (to encourage repayment); to make laws to enforce the courts to make decisions to protect the credit and financial well being of both parties in a divorce (incuding a review of the past 10 years tax returns to ensure that nothing comes up later to impac
  16. Well, I've been at this for three years, doing all the right things: 1. Paying my bills on time without exception for 3 years now, 2. Doing the DV, delete thing: Got several deletions 3. Went from 20 some odd bad accounts to 10 old bad ones, most of which will drop off by this December that are either paid off or disputed. 4. Established 9 good accounts. Yet my FICO and FAKOs continue to be sub 600! Folks don't think the bureaus treat everyone the same. I had a collection deleted in one day this month from equifax, and my FICO has NOT BUDGED! You would think my score would go up. Everyone
  17. I provided all three credit bureaus the same thing...a copy of my Target bill that clearly shows it was 30 days late with the word "Delinquent" highlighted. This bill clearly establishes the date of delinquency referred to in the FCRA yet, two of the CRAs ignored it. Equifax went on to say that they refer to date of last activity as the point of deletion. Isn't that a violation or is it?
  18. This was a charged off account by Target RNB. Asset Acceptance has listed this collection, but never validated, but credit bureaus continue to list. 7 years have passed since this account was first delinquent and I have the original bill that states this to prove it. Thanks.
  19. Has anyone been successful in getting student loan companies to update tradelines on credit reports from default to paid as agreed after they are consolodated in good standing? I have student loans for one degree that report 10 times (10 individual tradelines) on each credit bureau report. To confound things each of the 5 loans is reported twice (each by two different lenders) because they were sold back to the state student loan office before I consolodated the loans and got them back into good standing. I would like to get the prior holders to update my accounts, which are nearly seven ye
  20. Also note that they implied that they treat "Paid" collections differently than unpaid collections in respect to the DOLA. Does anybody know enough to expand on this?
  21. I sent a tradeline dispute on an old credit card debt to the three credit bureaus along with a copy of my original bill that clearly states the date of delinquency as 7 years ago this month (30 days late). Equifax's response to me came this weekend and they basically said that the tradeline stays and the "paid" collections are removed seven years from "date of last activity". My question is twofold: I thought the revised FCRA stated all tradelines had to be removed after seven years from the date of delinquency? Even if Equifax is stating the date of last activity, isn't this the same, as
  22. Yes, I hope to have this removed, but I am concerned the CRAs will only update the tradeline as being withdrawn but leave it on for 7 years. Is this the case with anyone else? Another problem is the fact that my local public records office states that these documents (the Notice of Tax Lien and the Notice of Tax Lien Withdrawal) will remain on my record for all to see forever! To me this is unacceptable, because the IRS violated their own rules when they filed it in the first place and which is why they had to withdraw it. The unfortunate part is that once the IRS takes this action, the da
  23. I am also exploring expunging the public record and forcing credit bureaus to remove via court order, but if there is an easier way I would like to know it.
  24. While working with the Taxpayer Advocate's Office, the IRS filed a tax lien on my public record and was subsequently added to all three credit bureau listings. The Taxpayer Advocate's office was able to get the IRS collection office to "withdraw" the lien. They filed a "notice of lien withdrawal" on my public record, so I now have two public records: the Notice of Lien and the Notice of Lien Withdrawal. My questions are: 1. Since the Lien was withdrawn, how will this impact my credit record? 2. Should the Lien be off my credit record entirely? I should note here that the IRS was in violat
  25. How does Experian show their interpretation of date of delinquency/date of last activity and when they will remove a tradeline? I have heard alot of different interpretations. Thanks.