• Content Count

  • Joined

  • Last visited

Community Reputation

10 Good

About HBC

  • Rank
  • Birthday 05/04/1971


  • Biography
    Student of Credit
  • Interests
  • Occupation
    Sharper Credit

Profile Fields

  • Location
  1. This from CNBC today: Credit Card Issuers Cracking Down On Consumers By Joseph Pisani News Associate | 06 Oct 2008 | 11:01 AM ET As the credit crunch weighs on the financial services sector, credit card issuers are tightening lending terms with consumers to lower their risk profile, from cutting borrowing limits to closing dormant accounts. “Banks need to be more conservative in how they are lending," says Carole Kaplan, director of public relations at the American Bankers Association. A survey of credit card industry executives in July found that 62 percent of their companies planned to red
  2. True: Even more so regarding magazines. LOL TNP: Wants to know the "meaning of life"
  3. How to contact your Senator (Click here to email your Senator) http://www.senate.gov/general/contact_information/senators_cfm.cfm 700 Billion = $2,333.33 for EVERY US Citizen. That just seems a little excessive since only 2% of the homeowners are facing foreclosure. There are 75.7 million homeowners x .02 = 1,514,000 homes x Ave home price $185,000 = $280 Billion in troubled loans Where the heck is the other FOUR HUNDRED AND TWENTY BILLION dollars going?
  4. $700,000,000,000.00 (eleven zeros) what are we thinking! There are 75.7 million homeowners in the US. Just send EACH homeowner a check for $750 a MONTH , for a YEAR. Or just send EVERY homeowner in the US $9,247.03 each. I’m pretty sure that would boost the economy. ..let’s just “bail out” WallStreet and hand them a “blank check”. The government is buying “Bad Debt” with YOUR money. Smart…..very smart. I’ll take my $9,247.03 in CASH please. With $700 Billion dollars you could buy some AWESOME Christmas presents: 269 – Virginia Class Nuclear Attack Submarines @ 2.6 billion a piece 1,237 – B2
  5. OK, The date of last activity (from what I've read) is the last day a payment or charge was made on that account. (simple) I've also read that making a payment arrangment with the creditor can "reset" the DLA........EVEN if you never make a payment... Can a "dispute" reset the DLA? (I don't think so) Are there collection companies out there that willingly monkey around with this? If the creditor files a lien within the statue of limiations....will that change the DLA on the original tradeline?
  6. I was certainly hoping for a "OH YEAH! leave that account open and your scores will be 100 points higher due to the open account" hahahahaha But, reality strikes! Quote for the day: Few memories last as long as those accompanied by a deep tissue bruise – HBC LOL! Have a good week.
  7. My suspicions were confirmed. Thank you. However....... (this is the real question) Let's say you DO keep one account ($0 balance and perfect 5 year payment history). Do you think it would keep your scores from hitting "rock bottom" and make a CONSIDERABLE difference in the scores and also make the road to recovery a whole lot easier? Or is the only option "close everything, whether $0 or not"
  8. I thought whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card. And I've been told that a filer doesn't have to include all debts.
  9. Scenario: You're about to file BK. You have a ton of collections, a few installment loans and several maxed out credit cards that you're including in the BK. Question: Would it be better to leave ONE or TWO of the small credit cards OPEN and just pay the balances down to below 30%? So you will be able to keep their payment history (if it’s positive) on those revolving accounts. OR Just include everything and start from scratch? ????
  10. Of course we all know that Mortgage and Auto inquiries are looked at differently by the bureaus. The whole 14, 30 and 45 day thing. But, The question was recently asked "How can the bureaus tell why type of inquiry it was?", "Isn't a BofA inquiry just going to show up as a BofA inquiry and the bureaus not know the type?" AAhhhaaa, The bureaus know what type of inquiry it is by the "subscriber code" associated with the inquiry and/or "the contract between the creditor and the bureaus". (this info via Michelle over at LandAm). So now you know. Happy Holidays!
  11. Of course, add the correct address to your DOT and change the states. Name Address OC Address To Whom It May Concern: I am requesting proof of the accounting and documentation required under Texas Motor Vehicle Finance and UCC statutes. I have been unable to have an account for a supposed deficiency from a repo of (insert date acct.#), being reported by (insert ca an address of ca), removed from my credit reports. The laws of Michigan and the Federal UCC require a full accounting of the sale and any deficiency, if the sale was not conducted in a commercially reasonable manner, or if I was not
  12. I'm so excited. You guys/gals may already be aware of this letter, but I made a few changes and it WORKED. My wife had a Ford Motor Credit account showing as a charge off for $470. I have disputed, requested validation, bla, bla, bla. Nothing..........UNTIL.......I sent this bad boy to FMCC. The "deletion letter" arrived from them last week. They were appologizing to me for not following procedures and said they would IMMEDIATELY request the bureaus to delete. Awesome! Of course, you need to look online and find the address to the DMV in your state...... Good Luck Name Address OC Address To
  13. LNY Now THIS is an answer to my query. Thank you SO much.