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bossfan

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core_pfieldgroups_99

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    Full time mom/student/career changer

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    NM

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  1. My guess is they don't want to fund this loan in the first place, and they're giving you the runaround. Our VA mortgage NEVER asked for these kinds of details and it was funded after a bankruptcy.
  2. You have been treated to the fine business school ethics of American Capitalism, 2009, which is akin to "women and children get out of my way". They are cowards, live their lives based on the daily returns from the stock exchange, and quite frankly don't deserve our business. That's why I like Dave Ramsey so much--he hates these credit card businesses, despises them, and encourages us all to put them out of business. I have been struggling like hell for four years to get my credit score out of the high 500's. Finally did last winter. Last December I got automatic checkout-line approvals for 300 CL's through Sam's Club and Old Navy, one's I didn't even want because they seemed so small. But I took them, in hopes I could build up my credit score. This May, Sam's cut my line in half. I had only used/paid it off monthly anyway, carried no balance. Two weeks ago, Old Navy did the same thing. Hardly use it, but had just done so for my daughter who went on a trip, needed some clothes. I haven't looked, but I am sure my CR took a hit for those CLD's. I have some other small MC/Visa accounts that I am keeping at 50% utilization, but I have decided to actively NOT pay those off with any windfall money that comes my way, for this very reason--they will use it as an excuse to cut my CL. I'll just keep plugging away with minimum-plus-50% to pay them down, and keep my cash under the mattress. God Bless
  3. How exactly do you do that--opt out and increase your score? Last year we were turned down for a VA mortgage refi with Wells Fargo, and the loan consultant recommended we "opt out" to enhance our credit, but I never could figure out just what that entailed. Any specific advice from your homebuyer's seminar?
  4. Due to a job loss in 2004 we got four months behind on our VA, but they worked it out with us by reamortizing the loan and adding six extra months on to the end of it. It made a huge difference in allowing us to become current on our other debts, and we are so grateful today for the fact that the VA has always pressured banks to do these kinds of workouts with Veterans experiencing financial troubles.
  5. It looks really promising for nursing and health care in general. I'm a mid-life career changer entering a fast-track BSN 2nd degree program, and planning on getting to the Nurse Practitioner level. When I first looked at the options, I began taking pre-med coursework to go to Physician's Assistant schools, but changed my mind last year when I realized how many loan forgiveness, repayment, and tuition assistance programs there were out there for nursing. ( Let me tell you, it would help because I have a total of 80k in undergrad and grad debt!) I discovered that some will only pay what you borrowed when you were technically admitted into a nursing program (which sucks for me, because they don't admit you without 2 yrs of pre-reqs ), but others don't necessarily have that requirement, especially employers like hospitals and traveling nurse agencies. I'd advise you to check your state dept. of higher ed or the state student loan folks as well as the links given above for the Federal level forgiveness programs. My state (New Mexico) has loans that it gives in exchange for working for a set number of years in a underserved area (my whole state, basically). It also at the very least will allow you to pay zero interest on loans that aren't forgiven if you become a registered nurse here. Also, don't forget to look for employment opportunities at the Veteran's Administration, the Bureau of Indian Affairs, Federal prisons, and military associated hospitals where you can work as a Federal Employee. Many of those agencies have their own loan repayment programs. Good luck to both of us, eh?
  6. How can NCO be calling me six times a day and sending me a notice that Cap 1 has placed our current (although over the limit due to a late fee) CC account with them for collection? Please, tell me I can sue these bastards.
  7. Even though we have had c/o's on cc's, some lates on mortgages, and low 600 FAKO's, our auto loan repayment history is PERFECT. Over the past ten years, we paid for three vehicles, refinanced our current one (in 2001 right after I lost my job), and all were/are paid on time and/or in full. Would this mean we would be able to get financing today, at a better rate than say, 15%?
  8. We disputed a Wells Fargo Card Services account that was settled for less than full amount in 2003, but was continuing to be reported as "Key Derogatory" ever since then on his Experian Account. We were then notified of a "Possibly Negative" change to his report which now says "Settlement Reported" Did we just screw ourselves? What should we do next?
  9. My husband's Experian FAKO went from 633 to 549 after a posting error caused our mortgage payment to be reported 30 days late. The only other thing was an inquiry regarding our overdraft protection loan extention by the credit union. Meanwhile, my FAKO actually increased from 545 to 574! Is this typical? Did we overlook something?
  10. Does anyone know if or how student loans, currenty NOT in repayment due to being in school, affect credit ratings? Also how would it affect the credit rating of my brother, who has perfect credit, if he co-signed a loan for me that is a state loan guarantee corp alternative educational loan ("LINK loan") for adults? They are similar to the PLUS loans for dependents, but require a FICO of at least 680 to qualify (which I don't have) and is for students who are not eligible for Staffords, etc,. but you don't have to pay them until you graduate--which for me is going to be years away. He is thinking of buying a new vehicle, and is concerned it would change his debt to income ratio or otherwise lower his credit score.
  11. Sorry, I thought I was in the Credit Bureau area!
  12. Does anyone know if or how student loans, currenty NOT in repayment due to being in school, affect credit ratings? Also how would it affect the credit rating of my brother, who has perfect credit, if he co-signed a loan for me that is a state loan guarantee corp alternative educational loan ("LINK loan") for adults? They are similar to the PLUS loans for dependents, but require a FICO of at least 680 to qualify (which I don't have) and is for students who are not eligible for Staffords, etc,. but you don't have to pay them until you graduate--which for me is going to be years away. He is thinking of buying a new vehicle, and is concerned it would change his debt to income ratio or otherwise lower his credit score.
  13. My friend and her husband, who was eligible for a VA loan, had the same issue after having declared bankruptcy. What they did was go to a mortgage broker who prequalified them by pulling their credit reports and discussing things with them. He told them to pay off the delinquent stuff they had outstanding since the bankruptcy, save the equivalent of a monthly mortgage payment for at least six months and then come back again. They were approved two years after they declared bankruptcy, six months after they paid a few collections and showed him their savings balance. I also think you could get "prequalified" on what your situation is by going to a housing/financial counselor, such as CCCS or like here in my town a non-profit that deals with helping people prepare for homeownership?
  14. Thanks, willingtocope. I really appreciate your taking the time to read my ridiculously long post on a holiday weekend! I am taking your comments into serious consideration. And you're right, our income almost NEVER pays all the bills on time, and gets the grocieries, clothes, shoes and other stuff bought--we ALWAYS rob Peter to pay Paul, hence the continuing struggle to pay mortgages, etc on time that keeps knocking the crap out of our credit rating. Just the other day my husband's experian "FAKO" dropped from 633 to 574 and the only changes I saw were his application for a $500 overdraft line of credit on our checking, and one 30 day late payment on our mortgage (which we are protesting because it was paid before the date they say it was). It takes NOTHING to destroy months of successes. In your opinion, how long does it take to crawl out of bad credit ratings after a bankruptcy? Is it shorter to just run out the 7 years or so (which I think would be 2010 and 2011 now) these things stay on our credit report and try to find ways of settling the remaining debts, or would it be quicker to file CH 13? Thanks again for any advice.
  15. I Live in New Mexico, and have recieved a legal summons from district court on behalf of a local attorney suing for CA(Midland Credit Management out of Denver) on charge off for Sears. I have until June 7th to reply to District Court, but CA would let me settle for less if paid by end of month, possibly split in into two for a little more giving me til end of June. Would it be a smarter move to bust my hump to borrow money from my father and go ahead and negotiate with CA (they are offering me %2995 for $5400 CC debt if paid by end of May), or respond to summons from district court and follow that route? History to consider: Starting in July 2003 after my job loss, my husband and I negotiated with several of our creditors/CA's with charge-offs to pay in full for reduced amounts. However, we kept a few others all but one in my name, (he is Fed Employee, we were worried about security clearance,etc.) but I could not keep up with payments so about one year later they also went into charge off and have been sent to various CA's. I never DV'd or responded to them, and they often passed from CA to CA for same accounts with differing amounts due. I paid a law firm for OC who filed in our district court to settle it on my husband's credit report one last year (again, to keep it from escalating and affecting my husband's security clearance). I still have three charge off's (owe on paper @ $15000 on original debts of around $9000) including: this one, one who offered me a credit card to settle the debt (which I just accepted) and one that keeps sending me letters that I am charged off, but then sends me a bill to catch up. We are current (lots of lates, however) on all mortgages, secured loans, and on some other stuff that we owe our credit union (they freeze our checking if we get behind!!!) Otherwise, my husband's individual and our joint credit problems have been settled or paid. Other Conditions: -this CC debt is in my name only, not my husband's (although NM is --community property state) -Husband is sole wage earner in our family of six, 72K/yr, we have LOTS of living expenses esp food and utilities -SOL in NM is four years, this one will run out spring-summer 2008 -I am a full-time nursing student-dont expect to work for about 2 years -Credit ratings range from 535-633 for either of us My dad wants me to just declare bankruptcy, or let them take me to court which scares the hell out of me. At this stage, would bankruptcy do much good (in terms of improving our credit reports, etc.) after all the history over the past 4 years? We have also been told that, now, in terms of security clearances, they just want to know you are doing something to make good on debts--just no outstanding collections, etc but garnishments are still bad. The sad thing is, we are still paying our VA mortgage and the house is worth 70K more than is due on it, but I can't imagine anyone will give us a cash-out loan we could afford to take care of any of these debts. We just want to get through this the best we can, and maybe someday be able to move and buy a new house, or a car etc. THANKS FOR ANY COMMENTS ON THIS LONG POST.
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