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Everything posted by incognito

  1. Hi can you please explain how JDB has violated? or what type of violation case are you implying that he has against the JDB?
  2. nice handle (Just-In-Case) This JDB pulled my credit report that is showing up as a new Inquiry. Is this a violation as I did not authorize them? or are they covered under the law to pull my credit report since they bought the debt though its outside the SOL etc.
  3. I found the article he was referring .... http://www.dallasobserver.com/2010-01-21/news/better-off-deadbeat-craig-cunningham-has-a-simple-solution-for-getting-bill-collectors-off-his-back-he-sues-them/1
  4. Will be glad to check out but what is CT Training Camp aka Litigation Central? Dallas Observer? Is this a forum, thread or search this site for the key words? Thanks,
  5. First Thank You to Broke Bob & 1time2many for replying. Update. I got the first JDB notice notifying that they purchased the debt from some no name collection ageny on 1/2/2010 and allowed me 30 days to dispute this debt. I sent them a Debt Validation letter on 1/10/2010 and on 1/15/2010 I found a Collection Letter in mail. Based on what I read here I am thinking that I let them reply to my DV and if they respond I can counter that with FOAD letter. The concern here is .... 1. Can they sue me? shouldn't we be scared here? 2. Can they put this as a negative line item on my credit report? (keep in mind they are a JDB and this debt is 3 years outside the SOL and no longer shows up on my Credit Report) 3. This JDB has pulled my credit report couple of times now as a inquiry and caused me to lose points on my Credit Score. Is this legal? because I never authorized this JDB to pull my credit reports? Thanks, Cog
  6. I had a past debt from 2000 that is out of SOL and all entries on my Credit Report by OC or Collection Agency has been removed. Just got a letter from a Junk Debt Buyer, who is stating that they bought my debt from some collection agency and want me to pay or dispute in 30 days. My question here is ....... Do I send a DV letter first and see what they come back with? I also read on this site about FAOD letter, is this right for me? Also do I have any recourse if this JDB pulls my credit report multiple times and impacts my score? Keep in mind that OC or Collection agency that reported on my Credit Report have been long gone. Thanks you for any guidance here. Cog
  7. What was removed should be considered as blessing. Continue to dispute with the remaining CRA but showing a remove letter makes no difference if CA or OC keep verifying that debt with a particular CRA. You can try DV route and see if that falls of or try disputing as too old to be on file etc ... just pick random reason and see what gets you.
  8. I couldn't agree more. There is a big difference in Threatening letters of suing you vs. suing you. This is a technique to get many to pay. Worst case if they sue you then you go to court. BIG DEAL. You can either accept its your charge and ask for payment plan or dispute and show evidence that it is not yours. I would just keep the Letter of Threats in a file and keep responding by DV.
  9. Well this is what I would do. DOLA should be the last day you paid these CA but I am not sure. Usually your CRA report will have the fall off dates and if you feel they are not correct then dispute it with CRA saying the debt is too old to be on file and let the CA verify that debt as correct and then send them a DV. DV process does not extend the SOL. Also check the SOL expiration policy by your state as most expire between 3-5 years.
  10. Wait total 30 days to see the outcome. Once the CA validates with CRA then send the DV letter for all the 3 duplicate debt. Make sure you send 3 separate letters. I have a feeling these duplicates will be deleted. Have you looked into the date of last activity with the original creditor to see if these 3 collection should still be on your credit report?
  11. Does not surprise me. Lenders all over the country are looking at ways to trim there exposure. One way to do that is to either trim the credit line or close the account completely. Credit Card issuer has to have good reason to close the account and in your case it would be the sliding credit history. There is nothing you can do about it. You can challenge and they will tell you that during recent credit review you did not score up to par to warrant a credit line or credit card. Also Bank of America is in financial trouble and they are cutting back the credit lines hard. I would just move on.
  12. Once the account is turned over to Attorney the original credit will not work with you. You will have to negotiate with the Attorney and most are willing to work on a payment plan but keep in mind they will slap stupid fees and litigation charges etc and make your 4K debt to 6K-8K. If you have good credit then try to work with them but if your credit is shot then just change your number and go silent and do not respond or just keep sending them DV. As I understand credit card is unsecured debt. They can sue all they want but as I understand they cannot take anything from you forcefully. 4K is a small debt and I bet it will be written off.
  13. Pay for delete works better with collection agencies so I am not sure if it will help you with original creditor. Though calling them cannot hurt, I had a card once that we were late on and the rep was very nice and was able to delete the late payment reporting.
  14. Though age of baddies can help but I was able to get rid off all baddies prior to drop off date. I sent out tons of DV letters, please note that I was DV'ing 5 years after the debt was written off. So I was skeptical of the success. 3-4 of the baddies came off easily through DV. All I was asking for was them to show me that I owe them what they say I owe them. I also started disputing with CRA by using different reasoning like "Too Old" "Balance Incorrect" etc. The ones that responded to DV - I filed a complaint with BBB. Either BBB or disputing with CRA help scare few of them like Pinnacle and Palisades and they dropped off or withdrew there reporting. My toughest one was Midland and they will not budget but somehow last week they were gone too. Even though they were supposed to be on file till Dec, 2009. You won't hear me complaining. During my credit clean up process I kept a active membership with True Credit and updated my report on a daily basis to see if I was making progress. High credit score does not define us but I have to tell you having a 780 FICO feels really good. Now that I have gotten a second chance with my credit, I have promised myself the following: I will do my best not to use credit cards. If I use credit card then I will pay in full in 30 days. I will not let anything ruin my credit again. I will monitor my credit on a regular basis to prevent any fraud. I will use my credit wisely and build it further and use it to start my own business. Hope this helps and I wish best of luck to everyone that helped me or is thinking about fixing his/her credit.
  15. I started on credit fixing journey about 20 months back. My scores were in low 500 and today I checked my FICO and glad to see that my 3 scores are 780 TU, 750 EX & 710 EQ. This forum was a great help to me and people here were more than welcoming. Here is few things I learned. 1. Do not give up 2. Commit yourself 3. Fixing your credit will take time and you have to invest time into this by reading threads and learning from it. 4. Add yourself as a authorized user if you can 5. DV works and keep hitting them with every angle Good Luck.
  16. Wanted to say thanks for responding to my request for information and guidance.
  17. Hi All, Need some coaching so I can figure out best option for me and my wife. We bought a house 3 years back, the title has both of our names on it but the mortgage loan is under her name. Our mortgage arm has expired and adjusted rates are in upper 8%. My wife's credit score have dipped below 600 due to some late mortgage payments. We are all caught now but need to refinance and lower our monthly payment so we can continue to afford payments. A little on me: My Salary 120K average for past 3 years. I can pay up to 5% down Current home price is 330K and we owe 315K My credit scores are as follows Trans Union 751, Equifax 733, Experian 687 What is the best way for me to lower my mortgage payment? can I just go get financing under my name and replace the high % mortgage we have under my wives name? is it legal or do I have to formally buy the house from my wife? In advance I appreciate any help and guidance you may provide me. Cog.
  18. Hi There, This is my situation and need your input. Some Facts: I make 6 figs from my job I have 1 paid off auto loan on file I have 1 Cap Auto Loan from 15 months ago, still paying and never late TU FICO 752 No Baddies EXP FICO 701 (1 charged off account (totaling $1500) from 6 years ago) EQUIFAX FICO 669 (2 Charged off account (totaling $1700) from 6 years ago) Need to buy a car for my wife - 30K range. I am not sure if I will be approved, I guess few months back I would have had no problem but not sure in this tight credit market how negatively my baddies will look. What would you say, is it worth trying or just stay put till Feb when baddies come off? Thanks In Advance
  19. Its hard to predict where interest rate will go. People think they can but they are only guessing. Just keep in mind Interest Rate goes up Home Prices goes down.
  20. Here is my situation. 3 years back we purchased a house with $0 down for 330K. My credit score was bad back then so we used my Wife's credit only. We paid for renovation (Kitchen, Hardwood Floors etc) from our pocket and that costed us around 25K. The house is currently valued / appraised around 345K and we owe about 315K. Our mortgage rate is scheduled to go up next month as our arm expires so we are looking at our options. We want to refinance but my wife's credit score has taken some hit due to some late payments on mortgage but we were never severely delinquent. My credit score since then has improved and my middle is 640 and make over 100K. My question is how should I approach this mission of refinancing. Should I go and buy this house from my wife? or can we go refinance and use my credit only. Your input will be appreciated.
  21. I am in process of conducting Debt Validation, one of the item I am requesting from CA is signed copies of agreement between me and the creditor where I agreed to pay what CA says I owe. Is there a law that can support my request? because so far both CA - MCM and PRA don't seem to be willing to share that information.
  22. I am facing a similar situation myself. I got the same generic validation and I sent PRA another letter requesting original signed contract etc but they replied back by saying that we have already responded to your request and will not be answering any more replies requesting debt validation. I am hoping someone replies here with the proper next step that will help you.
  23. Ok so I will try disputing this throught CRA. What should my reasoning be for disputing? You wrote that dispute Factoring account as incorrect. Can you please clarify to what part of this account I am disputing and what should the language of my dispute be? Thanks
  24. Hey Willingtocope, Ok so I will DV the Lawyer now as you mentioned. As for Pinnacle Credit classifying themselves as Factoring Account. Do you suggest me disputing with CRA as incorrectly classified or disputing this with Pinnacle and say / write what to them?
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