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Everything posted by myscoresawful

  1. I also purchased my own car about 2 weeks before, but didn't receive a denial (that I know of) but if one drags in from that purchase, I will update the information here
  2. (Maybe this could be a sticky? Just a thought) We all know that there is a new FICO model (the FICO 8), and MyFico not only gives you this score, but also lists all of the possible scores that a potential lender might see, such as the Auto/Credit Card/Mortgage enhanced models. To break that down even more, these lenders might be using the 'new' FICO 8 Auto/Credit Card/Mortgage Score models, or still be using an older version of the various mentioned models. Here is an example: I purchased a new car last month and I can tell by the score in the two denial letters that I received, which FICO Auto Score model these lenders used (these were both pulled from Equifax): GM Financial used the new FICO Auto Score 8 because the score they listed matches the FICO Auto Score 8 on EQ from that day. The FICO 8 Auto Score was about 2 points lower than my FICO 8. Ally Financial used the previous version FICO Auto Score 5 because that is the score shown by that particular model on the day it was pulled. This score was 54 points higher than the FICO 8. The reason I feel this is important to know is because the difference in the two was 56 points. (Incidentally, this particular car purchase, I was a co-signer on and the reasons cited for denial is because the person I cosigned for has not credit history what so ever. There were several lenders who did offer loans and he chose the best one. (edited to correct my addition/subtraction errors )
  3. Let me see if I understand this correctly.. You took out student loan(s) to attend college. The original lender made an "error" on your In School Deferment paperwork that gave the ISD an ending date that was 8 years after you finished/graduated school? (for the record, you and your loan(s) ceased to qualify for In School Deferment, when you were no longer a student enrolled at least half time). Your student loan(s) were sold a time or two and are now with Sallie Mae. Sallie Mae caught the OL's error and placed them in an Administrative Forbearance, dated back to the time that your In School Deferment should have ended, and now you believe that you unfairly owe interest on the loans during that time? From what you've stated here, I'm not sure that you understand exactly how Student Loans work and why Sallie Mae placing your loan(s) in an Administrative Forbearance was the right thing to do (not to mention, it was legal) They did not have to have your signature or approval to do it. For the record, the only loans that will not accrue interest while in the In School Deferment is a subsidized federal loan. This is one of the reasons that In School Deferment (what you had) is only allowed on loans of students who are enrolled at least half time or more. So if a subsidized federal student loan is what you have, then the Government is backing your loan(s) and Sallie Mae wouldn't have had a choice in what they did because the Department of Education is strict about Deferment qualifications being met. You could try and argue this in court or something, but the main thing you need to remember about federal student loans is that you won't win on a technicality like the error you're referring to. There was really no reason to contact you because they only two choices you had was 'forbearance' or 'default' for those months or years since school ended. Melkite, I want you to understand that I, myself, have my own share of horror stories dealing with both Sallie Mae and the Dept of Education, but I don't believe there is a court in America who would deny them the interest accrued while in the Administrative Forbearance. I wish I had a more optimistic suggestion for you.
  4. (btw, they apparently didn't bank on me having credit monitoring on all three bureaus now and I got the notifications around the first week of March that it was added, and when I logged in to look at it, they have the first date reported as January 2015. They also sent the notice to me this past week. Yet they claim that the OC updated it the end of August 2014 to reflect a balance owed. They claim they had to open a new account because the old one had been closed out in their office after it was paid. If it was closed out, then what did they see updated by the OC?)
  5. @BV80, yes. It was paid in full to the OC about 8 months ago. This particular CA was already reporting it to the 3 CRAs, but the OC accepted a payment made out to the OC. The original collection amount that they were reporting (then updated to 'paid collection' after I paid the OC) was for a final bill that included the leased equipment (I moved out of state and the family member didn't get a receipt for turning it in or didn't turn it in, don't know). When I submitted the payment to the OC, I included a copy of the final bill they had sent me that shows the break down and the equipment is listed with it's amount. I paid this full amount. So a few months after I paid them, I disputed with TU the 'paid collection' citing that I had paid the OC (yes, I know, but I really did so I didn't lie). After TU finished the investigation, in the results they simply put 'new information'. The new information was a brand new UNPAID collection account for the amount of the equipment (to the penny). I filed a complain with the CA's state OFR, and the CA replied that after I paid the first collection that the OC updated my account to reflect a balance owed for unreturned equipment (only one piece of equipment was ever issed) and that I needed to log into their website and pay it because I owe it, etc. I have trouble accepting the coincidence that they claim the OC updated this the end of August 2014, but yet they didn't report it the CRAs until the dispute (which is another thing, the entry of this new unpaid collection was their answer to the dispute). My FICO8 took a drop to an average of 600+- across the board because of this new and unpaid collection that I don't owe
  6. ok, I have finally received the 30 day notice for a collection (old, paid almost a year ago to the OC, but CA is reporting it as a new collection and unpaid) that the CA has already been reporting a couple of months now. I would like to see proof that the OC sent this to them to be collected. Can I demand that in my request for validation? While I'm sure it's a possibility, I don't believe that the OC 'updated' the old account to reflect a new balance due. What exactly are the things that they MUST show me if I request them, to prove that the OC is showing I owe this, what it's for and when the OC requested them to try and collect. (There is a reason I need to know these things, but which ones can I demand the CA provide me with?) Thanks in advance!
  7. Making payments on a SL that is in "Deferred" or "pays as agreed" has basically the same effect considering neither of those statuses are a negative indicator in any way. Where making payments in both of these statuses helps your score, is however much the balance is being reduced by the payments.
  8. Wow, first of all, GOOD FOR YOU! As for meeting the attorney and signing documents, I would think that anything you are required to sign in order to get your money would have been with the courts? I don't blame you for being nervous about meeting with the attorney and signing anything, after all, this is the same person who fought to keep the money from you.
  9. Well, since we're talking about 'banks' that don't pull chexSystems, what about car loan lenders? I was turned down online by Capital One for a checking account (I have a car loan and a credit card with them (nothing negative on either) and so I applied online for a checking account and was denied. A few minutes later I received an email stating that it had been due to my ChexSystems report and the contact information to get a copy of my CS report. I just received my CS report in the mail today and there is NOTHING on it, no negative or derogatory items at all. There is, however, 4 inquiries over the past 3 years (besides Cap1s) and all of them but 1 are from over a year ago, two are actually 2 years ago. The one from last month? For Flagship Acceptance. This was apparently someone the dealership ran mine and my kid's credit through when we bought his car (I co-signed). This wasn't the lender that financed him, but I thought it was pretty weird today when I saw that they had pulled my CS report for an auto loan application. Just an FYI (still not sure why Cap 1 denied my checking account app??)
  10. From CFPB website: Under federal law, a debt collector may contact other people but generally only to find out: Where you liveWhat your phone number isWhere you work Debt collectors generally can't contact people you know more than once and they can't say they're trying to collect on a debt. Generally, a debt collector can't discuss your debt with anyone other than: YouYour spouseYour parents (if you are a minor)Your guardianYour attorneyIf the debt collector knows an attorney is representing you about the debt, the debt collector must contact the attorney instead of you. http://www.consumerfinance.gov/askcfpb/332/can-debt-collectors-tell-other-people-about-my-debt.html
  11. I'm going to guess that the date of the ER visit was 01/2014 which is the date you would add 7 years too and so it probably is going to be on your credit report until 2021. I would do as @Clydesmom suggests and try first for a PFD, if that doesn't work, then pay them. You don't want them suing you and having that on your report too. The same with Verizon. I'm not sure I understand why a car loan was reported as a credit card, but I don't see how they could eventually convert the tradeline to a repo either. Talk to them before it develops into something worse. If they have sold the car, then that amount should be deducted and if there is still a balance, definitely pay it off. Do what ever you need to in order to keep that student loan in good standing because they do affect your score. As for obtaining a secured credit card and raising your score, I got a First Progress back in August and my score jumped a little (forget how much). First Progress reports to all 3 bureaus and your limit can be as high as your deposit. I pay it off every month. With your score, you might even be able to get a Capital One regular credit card. It might only be a $300 line at first, but they will do reviews each 6 months and raise your line of credit accordingly.
  12. I've never really thought much about it. On the other hand, mine are so worn that the numbers aren't legible so I guess that's basically the same outcome, right? I don't understand why they're on there in the first place. Might as well print our pin numbers on them too for all the good it does.
  13. I agree with Cyldesmom about the gw letter, especially if you've had the car awhile and have no other lates. Card usage: I have played with this for months and have found that 3% (yes '3') gives me the highest score, all other things considered. My card has only a $500 limit, so that could also be a factor. (Hope you and the little one are doing well!)
  14. Ok, so I did it. I test drove and looked all day yesterday and kept coming back to one in particular and so I went back today and got it! There have been only 6 pulls (1 was the CU) and 5 resulted in dealerships (hope they stop now that I've purchased one?) Anyway, a new (but 2014) captiva. No co signer, no money down. I drove my junker in there on empty and drove out with a full tank compliments of the dealership I love it too. Fully loaded, Onstar, Navigator, side and rear sensors and best of all, my DTI is still less than 10%. So, by keeping a pristine payment history on this loan, then my score should go up a little more in 3 - 6 or 12 months from now, right?
  15. Thank you both. I just came from my CU to talk about car loans. She told me that my EQ was 633 and the one thing she saw was that I have lack of auto loan activity. She did submit it to the loan dept (who were at lunch at the time) to see what they would do, but she said most of the time they would require a co signer in the absence of seeing any auto loan credit behavior. I told her I didn't really want to use a cosigner and what could I do to establish 'auto credit history' and she said I could get a loan through a dealership with no problem without one. I really hate to have a dealership run my credit, but she told me that as long as it is all within about a week, my score will not suffer. Having said that, I would like to limit them to pulling only my EQ, is that possible? If I put a freeze on TU & EX, would that prevent all of those dealer inquiries from hitting at least those two? Thanks again!!
  16. It really is, PayCut.. I've always had full coverage insurance on it also (it's a 2003) to which I finally reduced to just above what the state requires because it's just not worth it. I've put over $1,000 in repairs in the past year alone and now, it has more problems. (transmission is slipping, something is causing a BRAND NEW battery to go dead if I don't crank it and let it run a little EVERY day). I have considered what I would have in new payments and going back to paying full coverage auto insurance again and at the end of a year, of course I will be paying more, but I won't be afraid that it is going to strand me, or what is going to go out on it next and how much will IT set me back. As it is, I am afraid to even go out of town with it, and I'm talking 15 or 20 miles away for fear of having to have it tow'd that far back home. All of my doctors and specialist are about 40 miles from where I live and I have been having to juggle appointments around friends' schedules and I can't keep doing that either.
  17. I pulled a 3 in 1 today from Myfico.com and was just playing around with the score simulator. It's using the new Fico 8 score. The only options for showing things that could help my score: "Pay all of your bills on time" (to which it shows a 15 point increase if I do this over the next 24 months). "Make Regular Credit Card Payments" (same results as Pay all of your bills on time) "Pay Down Your Credit Card Balance" (I could possibly see a big ole 5 pt jump if I pay off the $29 balance on my MC that has a limit of $500) "Get a Credit Card" (with a credit limit of $5K, I could possibly see a 5pt jump) "Get a Store Card" (no change what so ever) "Get a Credit Card with $1K limit and consolidate your balances" (I'm guessing that $29 on my one and only card would give me 10pts) and that's it. <insert sarcasm> I realize that the fico score simulator is only for entertainment purposes <end sarcasm> but seriously, what could be next? Could it be that one of the options that predict a drop in my score (purchase a car, or take out a mortgage that shows a potential 5pt drop) is what I should be thinking about? I'm guessing that either of those, with good payment history, over time will help? I really do want to buy a home and a new car, (clearly not in the same year), because I need those things. I need a new car badly. Which one is usually best to buy first? ((I should mention that I have a recent collection that hit my report this week, that shows new and unpaid, but it is a re-entry by a scum bag CA of an old paid collection and will be deleted very soon. I don't know how much it is affecting my score because it reported within a two day period that 2 student loans went from a total of $64K balance to a zero balance and my score actually increased by 19pts))
  18. In my experience (mostly with Federal Student Loans), the loan(s) do not go into default until 190 days late. There are programs that your daughter most likely qualify for, such as Income Contingent Plans, Forbearance (there are different ones, and hardship is a blanket). In the event that her loan has gone into default, there are programs to turn that around also, such as a Rehab plan where lates and negatives will be deleted once she completes the plan that usually consist of nothing more than making 12 continous payments on time. You need to talk to someone about her possibilities. With the rehab, once completed and all negatives are removed, that would also reflect on you as well. You have rights as a consignor to get this turned around. Good luck!
  19. Do you have anything in writing? Such as an agreement from the first CA that states you can make payments on a balance less than the original amount? I've heard horror stories from people who say CAs offered them a reduced amount and they paid it, only to have the difference in what they paid and the original amount pop up as a new collection and it be legal. I wouldn't agree to anything unless it was in writing and then the OC (if they still own the debt) would have to be on that agreement too stating it was ok. Even in the later, where there is a binding agreement, they can (and most often do) still report it for the remainder of the 7 years, as 'settled for less'.
  20. Thanks every one of you! I appreciate all of the advice, links, and information posted. I'm filing complaints with both and will update as soon as anything happens!
  21. I agree with you both. I have already started putting together my complaint for the CFPB. I have also noticed there are over 300 complaints with the BBB for this CA, and it looks like most of them were resolved satisfactory to the person filling the complaint, so would it hurt to file complaints with both?
  22. ((What I'm saying is that I stated I had paid the OC, their response was an unpaid collection. So that is a violation, right? I mean, forget that it is a new entry. Their response to a dispute that I had paid this to the OC, is reporting the debt as unpaid))???
  23. I understand that. I made no false dispute though, I did pay the OC and since I had never been notified in any way from the CA, was not informed of their intentions reporting it to the 3 CRAs. If they had only 'verified' the debt, I would have left things alone. Now that they have gone out of their way to break the rules and hurt my credit even more, I want to take action. I know they MUST remove the duplicate, but I had hoped I would be able to use this to get BOTH of them removed. In other words, I am not out for any money from the CA for violations, but if in fact this is a violation (and I believe it is), then I would be happy to accept deletion of both entries, if I have anything coming. They had to physically go out of their way to report something as a new collection, with different information and especially as 'unpaid' when responding to a dispute that simply stated that I had paid the OC.
  24. That's correct. I paid the OC directly, who accepted the payment made out to them. This CA had already entered it as a collection on all 3 CRAs, but there had never been any contact between us, I never received a letter or anything from them at any time, and after I paid the OC, they just marked it as paid, was in collection. I disputed the collection with TU stating that I had paid the OC and when they finished the investigation, their results summary simply showed "New Information" as the outcome. Of course the new information was the same collection entered as a new collection showing a different amount (about $100 less than the first one, but still over $100), a different assignment date, and apparently a different account number because one of them shows an account number and the other one is just all 'x's. So now I have this same debt listed twice in collections on all 3 bureaus and it has been paid nearly a year.
  25. There is a good reason for that. The children's checks are just that. The children's. This money the children receive is NOT your husband's income. Period. Neither is yours, your husband's income. The bank is really only seeing the one check that is made out to your husband as his income. It's probably not enough and are suggesting that adding yours would increase income on the application, however, to add your check would mean to add you to the loan and so they would have to run your credit also. I agree with TomnTex, if your husband is made the children's payee, then he could count their SSA checks because that money CAN be used by the payee as long as it is a beneficial necessity to the children and a rood over their head certainly is. I don't know if it was explained to you by SSA (because they don't always make everything very clear in my opinion) is that you must keep up with where every penny of the children's checks are spent and they can request that proof at any time without notice. Hopefully you are keeping receipts, and if not, I would start doing so immediately.
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