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Posts posted by Rick9972

  1. This link in the stickies is good: http://www.myfaircredit.com/forum/viewforum.php?f=6

    It has all kinds of case law about BK reporting

    I love this site and have used it for years. The trouble I am having is that most of the case law, dealing with this, I have found involves post discharge. I have found nothing that addresses the time between filing and discharge.

    Here is a comment from that site that I found very interesting and potentially disturbing:

    "As to a ch 7, the filing of a BK petition is a default on the contract (most contracts say BK is a default), and the total amount owing is a liquidated debt as of the date of the ch 7 filing, but it is not a late payment being reported pursuant to the contract terms, because there is no contract, so anything reported except the total amount of the debt due as of the BK date is not really accurate reporting. The accurate report is account included in BK or ch 7 during the BK, and then to be changed to discharged in BK upon discharge.

    Reporting during a ch 7 has not been extensively litigated, probably because there is such a short window while a ch 7 is active, like maybe 120 days, so not much damage during that period of time. BK judges may not have any problem with reporting during the ch 7, they will simply leave it up to others to fix the problem."

  2. This is a statement I just received from Experian on some accounts that I had disputed that were showing 30-90 day lates and charge offs, all occuring after I filed BK.

    "Experian seeks to report a consumer's credit history accurately. Delinquencies that occur after the petition date but before the discharge date are part of a consumer's credit history as they occur at a time when the consumer has not yet been discharged from the debt. Experian does not report on delinquencies occurring after the debt has been discharged."

    What do you think about this?

  3. In my opinion the whole PDF system is pretty much wishful thinking. It is worth taking the shot to see if you get lucky, but do not count on it. Over the years I have tried it maybe 9 times and basically been laughed at all 9 times.

    Generally speaking your next step depends on your circumstance. If you "have" to get the collection paid or removed proceed with the various systems detailed on this wonderful site. If on the other hand you just "want" to deal with it, if they are not bothering you about it, then I would not bother them.

  4. I wouldn't hold your breath.. you may pay it and they will mark it paid but no matter what they tell you on the phone I will bet it wont be removed.. they are not going to do it in most cases and don't have to.

    I am not trying to sound negative but it's been my experience things of this nature no matter what they tell you on the phone are not removed only marked as paid

    I agree complete with BlueEyes. I would also add that these debts are 6 years old, they really are having very little impact on your scores. Plus, if the CA is not bothering you, why kick the hornets nest?

  5. Four times in Federal District court. All four times resulted in favorable settlement terms. The process for each one went:

    1. File

    2. CA responds and files 12-b-6 motion for dismissal.

    3. I file my response to their motion for dismissal.

    4. They see your response makes sense, they call and tell you that this court action will take years and alot of your time to resolve. You reply that you are aware of this and that you are in no hurry and that you have found it is a enjoyable pasttime doing all the research.

    5. Couple of days latter they call and ask if there is possibly some way we can resolve this matter. You tell them what you want, they counter and then done.

    You really want to settle, because you can get things in a settlement that would not be possible from the court. For example once I not only got my TL's removed I also got DW's removed. Also generally speaking, they will be very generous with perks, but very tight on money.

  6. An Ombudsman is technically a neutral property that will listen to your story, look at your information, research the issue and if they feel your story is accurate will act in your behalf against the Dept. of Education.

    They are employees of the the Dept. of Education and I have never dealt with them. I have dealt with Ombudsmen of other programs and found that they are generally fair in their dealings.

  7. I have seen it alluded to here and on other forums that creditors, especially JDBs, target women and minorities for lawsuits. On another forum it was mentioned that JDBs with former Advanta accounts are filing suits in Florida against people with Hispanic names.

    I assume the reason for this is the stereotypical view that women and minorities are lower income and lack legal sophistication, and therefore are less likely to defend a lawsuit or hire an attorney.

    Is there any evidence of this practice? Any statistics, or even anecdotal accounts?

    Does this practice violate any laws?

    Could it be used as an affirmative defense, and how would one plead and brief this?

    Of course there is always the court of public opinion.

    I'm just opening this up for discussion.

    A very interesting theory, and you forgot the elderly. I personally believe it is not true and would be impossible to prove if it happened to be.

    I believe what has happened and continues to happen is that certian creditors select "regions" based on demographics, such as income, unemployment, education levels, home ownership and age distrubution.

    They then develop and market their "quality" products in this region very agressively. I live in central KY, but have family in the Eastern coal fields. They show me some of the crap they receive in the mail and it is increditable.

    Thus the fact that minorities, etc. seem to be targeted is just a side effect of the traced demographics. Poor white people are just as good a target as any other poor person.

  8. We got very lucky and got the money we still owed back. We bought in a very popular sold out development, and we rented out our points a couple of times and I made a comment to the developments rental staff that we would sell it if we could. They of course told us that they did not assist in that.

    Few months later I got a call from them, and they had a new s---er lined up, that would only buy in that development. We took the deal instantly and prayed nightly that the new person would not come to their senses before the deal closed.

    • Like 1
  9. DW received phone call today from CA claiming that she owed a defaulted student loan from 1989. That she defaulted on this loan in 1998 and has never paid it.

    Now the Nineties were not a good time for us, being basically young and dumb. (Now we are old and not real bright)

    Her history basically goes:

    Defaulted in 1995

    Consolidated all of her loans in 1996

    Defaulted on the consolidation loan in 1998

    Bought house in 2002 and as part of getting mortage we had to pay off her student loans. So we saved and begged and paid off her consolidated loan.

    Now this jerk calls and tells her that there is another loan out there with the wrong name, and with a SSN # that is only one digit differant than hers and thus it must be hers. He further tells her that since it is a defaulted Federal loan he can start garnishment now without going to court.

    We checked with the NSLDS system and it shows all of her accounts as paid.

    Can anyone give advice on what we need to do?

  10. The above post could be referring to the Army / Airforce Exchange Services, who offers a retail credit card that can only be used in AAFES stores for military personnel.

    This is correct. I had one many years ago and they still send me catalogs. Hidden in the very small print is the fact that it is almost like a Student loan or tax debt. Not really sure if it is dischargable, I just closed mine when it was paid off.

    The lesson here is to never borrow from or owe the government money. You can neither run or hide.

  11. BK is a major decision that must not be made without alot of thought. However do not wait until the last minute and then file BK to Keep the house of cards from falling.

    I have read alot and believe that how you enter BK is more important than the process itself. In other words plan your BK!

    I believe the Exemptions for a married couple in Florida without a homestead exemption are roughly:

    1k personal property

    1k vehicle exemption

    4k wildcard exemption (if not claiming a homestead exemption)

    2k personal property exemption"

    I believe these exemptions can be bundled so you have roughly 8k to protect the paid for car and personal property. Alot depends on the value of the house and car versus what you owe on them.

    For planning purposes:

    1. talk to at least 2 lawyers preferably 3

    2. Evaluate what they tell you and plan from there.

    3. If you decide to move forward, stop paying all unsecured bills and catch up on the house. Stay current on the car. Keep your saved money in the mattress and save up money to pay the attorney and for emergancies after you file.

    4. Get all the paperwork together and work with the selected attorney to get everything ready to file. Then keep saving money without filing until a judgement is close and then file.

    It is difficult decision to make and nerve racking no matter what you do. Remember the important things are keeping Food, Clothing, and shelter for your family. When your ability to provide these basics are endangered, then it is not a personal decision, it is a business decision.

    Good luck!

  12. How do you know it is being updated? Have you disputed with the CRAs?

    I have seen it being updated monthly on TC. I checked her FICO's last month and this month and her last late payment or negative comment is 1 month ago. The only thing updated is this account.

    What would I dispute with the CRAs? The information is correct, GEMB is just updating a closed account monthly.

  13. Now you must ask yourself if this is really worth it to pursue. Your credit is shot already from the bankruptcy discharge and will be for at least a year. This collection item, as long as it is "included in bankruptcy" will have little, if any, effect on your credit score after about a year to a year and a half. As long as it is reporting $0 and discharged with no post filing delinquencies notated, it really shouldn't matter overmuch.

    Thanks for the response.

    Yes it is probably worth it, already collected one big check from this CA. Might just go for a second. I have done and won 3 FDCPA claims in Fed court Pro se. Just might do another.

  14. If the reaffirmation was contingent on a reduction in interest or principal and they are not following that, then you must contact your BK attorney right away. Reaffirmation agreements do not have to be at the same terms as the original agreement. It is a new agreement to repay the underlying debt. The terms can, and often are, renegotiated.

    My vehicle reaffirmation agreement included a small balance reduction and a huge decrease in interest rate.

  15. BK 7 has been discharged as of 9/4/09. Filed on 5/27/09.

    CA has reported a bill that was discharged in the BK. CA claims that since they received it in 5/09, and even thou they never contacted me nor reported it to the CRA's, they can now report it as a "collection discharged in BK".

    Is this correct?

  16. A friend just showed me a summons she was served and asked me what she should do.

    From Capital One

    Shows a dollar amount increaseing at 21% interest

    Asks for default judgement

    Asks for Attorney Fees

    Twenty days to respond in writing from date of service or a default will be entered.

    Attached to the back is Exhibit A. (a very generic Customer Agreement that has been copied so many times it is not readable.)

    This is it! All the information provided.

    How should she answer this summons?

    (by the way she sayes that she owes a debt to Cap One but the amount asked for is alot higher)

  17. AFNI is especially stubborn when it comes to removing inaccurate tradelines. They do, however, respond to state regulatory complaints. File a complaint with the appropriate office in your state and let them do the work for you.

    LOL they also react well to summons from Federal Court for FDCPA violations.


  18. the third fell by the wayside due to layoffs years ago.. it is 36 months past due but again not on a credit report and from what I can determine not at the courthouse with a lien.

    Is the third lien on the property? Basically what I am asking, "is there a paper trail(lien changes) from when you first got the third mortgage, to the now current owner of the mortgage?"

    IMO this is custom made for the "show me the paperwork" type of challenge to any foreclosure that may occur.

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