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Everything posted by Debtor1

  1. Penfed saved our bacon when we got into financial trouble. I was laid up for 6 months with little income b/c of a motorcycle accident. All my CC's defaulted to 30%. Wife took out a 25k signature loan from Penfed with no docs at the best rate they (or anyone else) had. I have never dealt with them on a default item. But their lending rate and approval really helped us.
  2. What's your FICO? It is hard to answer without that. Prosper.com is pretty easy to get, but the apr will be high.
  3. FICO is an allusive forumla. But here is my guess: If you settle before CO, then the settled account *should* look much better than a CO or a settled CO. CO's are real bad. Paying less then full is never good, but it should be less painful then a CO. The effect on you current score? I don't know. But it should be easier to pull back up than a CO.
  4. I went 5-6 months not paying on 4 cards. One CO'ed then settled. The rest are being paid on. During tthis time, Foleys and Capital One cancled their cards among a couple of others. Dilliards was doing AR pulls every week, but left the acct open
  5. If you settle, citi will settle for 50%. I don't know if they will accept payments over a year if it is at 50% though. paying back 27000 at 471/mo for 60 months is only 1.8% interest. This option may look better on your credit report and not get you blacklisted by citi. Settlement saves a lot more money. Be aware you will get a 1099 and have to pay taxes on the amount they forgive in a settlement.
  6. I have had 3 CA's on my CR. None had a tl. They all had PP though because they were hired by an OC to collect.
  7. Update: My wife paid it on line then we got another bill a month later with late charges. She called and told them she had paid. They looked it up said it was their mistake. Then the check goes through again. Apparently the person who looked it up set it to go through again by mistake. The doctors office sent us a refund check. It wasn?t a big deal. But, it does make me worry if it had been someone else who ran it through twice. I guess Credit Cards are the only way to pay on line safely?
  8. I have this new inquiry, anyone know who it is? Reported By: TransUnion Reported On: 07/08/2006 Inquirer's Name: BUS INF GR Industry Type: Address:
  9. Congrats on the new truck! I think you got a good deal. But for the other readers out there, don't forget it is usually a rebate or a special apr. This can be good or bad. Example 1: 37k truck at 3.9% or a 1,000 rebate If you took the rebate, you would need an apr of 5.02% to get the same payments financing 36k Example 2: 20k truck at 3.9% or a 1,000 rebate If you took the rebate, you would need an apr of 6.0% to get the same payments financing 19k
  10. OC's send full account numbers. TU reports them, EQ and EX shields them.
  11. Typically, banks/mortgage companies do not sell houses at fair market value. Some will try and get a fair value, but many will sell at a discount to get out of it. They are not in the real estate business; they are in the lending business. What generally happens is they sell it for a loss and you owe the difference.
  12. here is a good site for checking rates. http://www.money-rates.com/savings.htm
  13. ING 4.35% Very easy to set up Once you have an account it takes about two clicks to open another. I use multiple accounts to budget and it works great. HSBC 5.05% Slightly better rate, currently. ATM Card. Pain to set up. I have 3 ING accounts and 1 HSBC account. Both are easy to transfer money between banks. It takes a few days, but it is easy. I have weekly transfers taken from my checking to both hsbc and ing. When I get paid, I log on to ING and transfer 30% into an account for taxes. It works great for budgeting and I highly recommend it. HSBC has a better rate, but I do not think you can do the multiple accounts (if I am wrong, please let me know). I opened the hsbc account primarily for emergency reserves, since I can access same day if needed. Neither one did a hard pull on credit.
  14. Some car company?s finance company have ?new grad? programs that are designed for people with no credit who just graduated.
  15. My wife authorized one check for about $500 to an md, which paid her balance in full. She did this on-line. The doc?s office sent it through twice. There was extra money in her account so both went through. The check for about $500 and same check number went through her account twice. So the doc got $1,000 instead of $500. The first $500 was authorized; the second was the doc?s mistake. The bank said the only way to fix it is by having the doctor?s office reverse it. While this may be the easiest for the bank, I would think they could reverse it since we only authorized one check for $500. It aggravated me that they would honor the check twice without calling us since it is the same amount and same check number. We can get the doc?s office to cut us a refund check. My concern is what would happen if it was a less scrupulous individual. I thought there was a law requiring a bank to reverse an unauthorized charge? Thanks for any info you might have on the subject
  16. My wife made a payment by check on-line to a doctor. The doctor?s office sent it thru twice. Same check number and amount (almost $500 each). My wife?s bank states they cannot do anything about it. It has to be taken care of from the other side. This sounds wrong to me. Her bank was a credit union and changed to a bank in the last year. What laws do we have to protect us on this? Thanks in advance.
  17. It sound like it may be best to do it in writing. That way you do not risk getting a a-hole on the phone. If you do call, just remember, you are the one with the power. You have the $$. They want the money.
  18. First, most people will say never deal with CA's on the phone. I did because I knew Citi still owned it and I was ready to settle. I would never do it over the phone with a JDB. I did here and it worked out ok, but be warned it is not advised by most. I was assigned to Collect Corp. I paid them $50/mo for a while. When Citi reassigned it I wanted to settle. I returned ARS's call and said I might be able to come up with 5k if they would settle. That kicked me up to a manager. He said nope, the best they could do is yada yada. I said, look I see online Citi is settling for 50%, if they agree to that I would do my best to make it happen. He starting asking how and where I would get the money. I just stated I didn't have it but there was a good chance I could get it for a 50% settlement. He put me on hold for a couple of minutes. He came back and gave me a number and a date. The number was exactly 1/2 the current balance on my CR and the due date was the next statement date. I said ok; send it to me in writing. I said make sure it states that Citi will forgive the remaining 50%. He e-mailed me a letter and company stationary. I stated the terms that citi would forgive the rest and I would get a 1099 to pay taxes on the rest. The offered required a check that day. It could be dated the end of the billing cycle. If the check bounced, I had until the 15th of the next month (about 18 days) to make it good. I did a check by phone, which I hated to do. It made me nervous as hell. But they the offer required them to get a check that day. It took a few days after the date the check was dated, but it came through in the right amount. I called citi; they put me on hold for a while, then came back and said it was settled. I had to call back after another billing cycle to request to statement showing a 0 balance.
  19. What kind of math are you using? He was paying $59 for card 1 and $19 card 2, which is $78. He is now paying $19 for one card. 78-19=59 savings.
  20. I had a 7,100 CL Citi account CO. It compounded to 14k. I setteled with ARS for 50%. They e-mailed me a letter stating all the terms. I called citi to confirm and the offer was legit. CIti will send a statement out showing a zero balance after the billing cycle that the payment posts, but you have to call and request it. Don't forget you will get a 1099 any the forgiven amount and will have to pay taxes on it.
  21. there is a thread on this in Credit Repair http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=44246
  22. bump I would like to know th answer to this also
  23. TC FAKO FICO Diff TU 623 553 70 EX 623 598 25 EQ 697 559 138 Adv 647 570 77.67 All my Fako's are higher Average Fico = 570 Average FAKO= 647 Rage of difference = 25-138 Average difference = 77.67
  24. Myfins1, It shows settled for less than amount owed. Earth Angel, I don?t know about that. To my knowledge, CRA?s do not keep track of Income??? It is kind of hard to do a DTI (I am assuming you mean Debt/Income) without the income. Please enlighten me if I am wrong. According to the Credit Scoring 101 sticky on here, the score is about: 35% Payment History 30% Utilization 15% Established History 10% Inquiries & New Credit 10% Mix of Credit I think it probably came from payment history. I have perfect credit 18 months ago, aside from high utilization. I did not pay 4 cards for 5 months oct 04- Feb05. One charged off. The other three have been current since March 05. I did get 3 medical collections and one electric collection during the same time. They are only on EX. My Utilization is over 100%, so I doubt that changed it. Some may have come from mix of credit. I now owe 30k installment and 30k revolving.
  25. I settled on my only charge off in February. It was with Citi and I settled 14k for 7k. According to TC, it posted to EX yesterday. My score jumped 88 points to 615
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