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WilliamKF

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About WilliamKF

  • Birthday 02/26/1974

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    Florida

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  1. I live in Florida and have gone through a Chapter 7 bankruptcy which was discharged and included my 1st mortgage through Bank of America. Bank of America sold this mortgage to another lender in Alabama. They sent me a letter stating I owe them this money with a footnote saying not if I declared bankruptcy and saying I have a right to validate the debt. They also indicated that they will be sending a Notice of Deficiency (NOD) on October 7, 2010 if I do not cure the loan. I faxed them a debt validation request and they responded quickly with a letter saying the validation would be forthcoming. Today I received their validation response. It included a cover letter affirming receipt of my request and a recap of their response which says the loan had its service transferred from BofA to them on June 30 and gave a summary of charges as of that date including past due payments, late charges, collection costs, and an Escrow Overdraft Balance. The letter also included payment histories for both BofA and new lender as well as a copy of the Deed of Trust and Note. In their letter they did not include any proof that the mortgage had been sold to new lender. Also, the letter included a Payoff Statement for a completely unrelated loan. They are not reporting anything on my credit report. My objective is to delay foreclosure as long as possible and I hope that debt validation can defer the NOD. How should I best respond? Should I wait 30 days from my request for debt validation which they say they received on September 9, 2010 to let them know they did not validate since they did not offer proof of ownership? Should I get into the wrong payoff statement being enclosed? Should I dispute the escrow account where they apparently paid the real estate taxes even though the loan did not include an escrow account? Would sending a NOD be considered debt collection and being done before complete validation, be a violation of the FDCPA? Please suggest how to best proceed? Thanks.
  2. Hello, Does it help to open a second secured card with public savings bank? I already have one, is it better to up the limit, or open a second card to improve my credit history? Thanks. -William
  3. If the truecredit scores are useless, what brand of monitoring gives good tri-bureau scores?
  4. Hi, I have a tri-bureau monthly report and score from truecredit.com It is reporting scores of TU: 665 EXP: 686 EQX: 694 on scale of 500 to 990. It reports the following four items are impacting my score: None of your real estate accounts show a credit amount. [TransUnion, Experian , Equifax] Lenders may be able to better evaluate your creditworthiness if there is more information about your accounts on your credit report. The available credit on your open revolving credit accounts is too low. [TransUnion, Experian , Equifax] Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders usually like to see that consumers have a large amount of credit available to them. The balances on your installment accounts are too high in comparison to their credit limits. [TransUnion, Experian , Equifax] It is a good idea to use your accounts regularly, but remember to keep your balances low in comparison to your available credit limits. Having a high ratio of balances to credit limits on open accounts may be viewed negatively by lenders. There is a bankruptcy on your credit report. [TransUnion, Experian , Equifax] Negative records, such as a bankruptcy, can substantially impact your credit score. I understand the first and fourth items, but the middle two have me confused. I have a new secured credit card with Public Bank with limit of $2000 and balance of $100. I have educational loans that were not discharged that are all current. I don't see how balance on my educational loans impacts the score? Its not a revolving line of credit, but fixed term loans. Please suggest how I might improve my score here? Thanks. -William
  5. Hello, I was using the Orchard bank site and ran their pre-approval system which said I was qualified for an unsecured card, so I applied. Then they reject the application stating: Based on a review of your total relationship and all your accounts with HSBC, we are unable to approve your application because of "serious delinquency on at least one other account". Now I had a HSBC credit card, but that card was included in a Chapter 7 Bankruptcy, so how can it be seriously delinquent anymore? Plus, seems strange to say pre-approved yet then decline, so I wasted a credit inquiry on Equifax. They do not say a credit report was used in their decision. Is this something I can somehow dispute since it is their own internal records which seem to be inaccurate, yet they are declining based upon this? Thanks. -William
  6. Or perhaps this is better? Under the Fair and Accurate Credit Transactions Act of 2003 and the Fair Credit Reporting Action Section 623 (a)(8), I hereby request your formal investigation of the proof you supplied to the three credit bureaus (Experian, Equifax, and TransUnion) about me for account number xxxx-xxxx-xxxx-xxxx to demonstrate the veracity of all the negative information you are reporting on these reports. If such proof is inaccessible, I understand that you are obligated to remove the negative information. I must request that <OriginalCreditorHere> transmit formal proof that you provided to the three credit bureaus during your recent investigation of my account within 30 days. I do not wish to receive only account reviews. Instead, I am demanding a full documentary proof. If these reasonable demands cannot be met during this reasonable period, such claims should not be regarded as factual and may evidence your disregard for consumer protection statues. Should this be the circumstance, recall such reported items now.
  7. How is the following for a section 623 letter to the OC? Under the Fair and Accurate Credit Transactions Act of 2003, I hereby request your formal investigation of all the negative information you are reporting to the three credit bureaus (Experian, Equifax, and TransUnion) about me for account number xxxx-xxxx-xxxx-xxxx to demonstrate that it appears correctly on these reports. If such data is inaccessible, I understand that you are obligated to remove the negative information. I must request that <OriginalCreditorHere> transmit formal validation of their investigation within 30 days. I do not wish to receive only account reviews. Instead, I am demanding a full documentary review. If these reasonable demands cannot be met during this reasonable period, such claims should not be regarded as factual and may evidence your disregard for consumer protection statues. Should this be the circumstance, recall such reported items now.
  8. I sent a dispute letter to the OC regarding an inquiry that appears on my credit report for which I believe they do not have a permissible purpose in having pulled it in order to get it reclassified from a hard to soft inquiry. I got back a letter that states: In response to your letter regarding the First American inquiry on your credit report, please be advised that we have completed our reinvestigation and have determined that the report was ordered by our clients. We are a credit reporting agency and not a credit grantor, to obtain a report on your, our clients represented to us that it had a permissible purpose. The address and telehphone number of the company that requested the report is listed on the following page. If you believe they did not have a permissible purpose to order a credit report on you, or have any questions regarding its inquiry, you should contact this company directly. If you find the company did not have a permissible purpose to pull your report, First American requires the company to provide your name, social security number, address and date of the inquiry to be removed with a valid reason, signed by a management staff member on their company letterhead. This is a requirement directly from all 3 repositories for all inquiry deletion being requested. It seems to me this is bogus. If they are a CRA, why are they pulling reports? Can they just pass the buck or must they do the investigation? Does the new FACTA rules going into effect July 1, 2010 help with this? Thanks. -William
  9. Hello, I live in California and am about to get discharge from Chapter 7 bankruptcy where my home was included in the BK. The lender applied for relief of stay and was granted but has not given notice of deficiency yet. House is way underwater. I want to buy a house again and thus want to get my credit score as high as possible. Question is whether lender can report foreclosure public record on my credit report? My attorney says this is a gray area of the law. My take is that this would be collection activity, and thus is prohibited. While they can foreclose on the property, they cannot do so on me personally. Should I try and do deed-in-lieu of foreclosure or short sale instead? If they report this on my credit report, how likely would I be able to successfully dispute it? Is this risk worth taking or should I go the deed-in-lieu of foreclosure or short sale path instead to reduce risk? If I move my legal residence to Maine or North Carolina, does that change anything with respect to this issue? Thanks. -William
  10. Hi, I am considering a chapter 7 bankruptcy and wonder whether it is worth paying off my two Discover Card trade lines that are joint with my wife. These date back to 1992 and 1994. I figure that by paying them off in full before the BK, that discover would not be included in the BK and thus not close these accounts. These accounts in turn would then help rebuild my credit score as they would be relatively old tradelines. The cost to do this is about 10% of my annual salary. My sense is that it is worth it and that I would have to pay both off to keep discover from closing the one I paid off when the unpaid one was included in BK. What do folks think? Is this money well spent now? Thanks. -William
  11. What constitutes: "false threat of suit" for a FDCPA violation?
  12. How's this sound? This is a follow up to my letter to you dated April 24, 2007. Today I received a phone call from you at around 1:17pm on my cell phone during normal work hours. Let me again repeat my request from April 24 that you not call me on my cell phone nor call me at work. Further, I again request that you send me validation of the debts you say I owe you under FDCPA. Additionally, given the tone of your statements to me over the phone, I wish for all future correspondence to be written. Please do not call my home anymore. Thank you for your cooperation in resolving this issue.
  13. So it is okay to request cessation of all phone contact? I thought you could only say not at work and not cell phone?
  14. Hello, I sent a DV to the CA on April 24, 2007. They never responded in writing, in fact, they have never written me a single letter. All their contact has been by telephone. They violated my request to not call my cell phone today nor to call me at work (it was during work hours that they called my cell phone) and without my confirming my identity went into their collections efforts verbally. They threatened to sue me and stated that they know where I work. It seems they have clearly violated the law on several counts. My question is should I send a follow up letter? They have not reported to any CRA. If so, should I just repeat the DV request or should I include the fact that they are in violation of the law by not following my prior requests. In other words, should I tip them off on their violations or just let them keep piling up for a while? If they do sue, wouldn't that be a violation? Do I need to send a follow up to make my case stronger? Thanks. -William
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