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Everything posted by Rick9972

  1. After taking a few months off, I am back working on my CR's. As you can see in my signature EQ has a difficult time following directions and removing incorrect information. Giving them a final opportunity to fix their report I disputed the accounts. I have in my possession the two computer reports from the CA reporting the accounts as paid and to be deleted, from my previous disputes. TU and EX have both removed the accounts, EQ has neither removed nor marked them paid. I check my True credit tonight and EQ has noted the accounts a disputed. This is correct! But they then added the line, "Subject has not satisfied debt." Who are they to say that the debt is not satsified, when I have filed a dispute stating the debt is paid and it should not be on my report? I may sue them anyway even if they remove the accounts in a timely manner this time. Has anyone else seen this before?
  2. Low limit, high interest, Annual Fee Positive point is that it is 6 years old
  3. I just got a new card and transfered my balance from Capital one. Will the Cap One card automatically be cancelled or will I have to do it myself? Thanks
  4. You have an adjuster without a clue. Before you jump around alot ask for a new appraisel from your insurance. In construction LS means Lump sum. It is impossible to have 2 ea lump sum totals for the same item.
  5. My other computer has picked up a virus. It will not let me access my Norton Antivirus, nor let it run. Any suggestions? It seems to have made it a zombie machine, from the way it runs when on. Thanks.
  6. The last three months I have received the most/best credit in my life. 1. Home Loan @6% no PMI. 2. New Truck Loan @ a decent rate from Citi. 3. First real CC with $3k limit, no annual fee, and 0% interest for a year from WAMU. My scores are OK, but not great now and all my baddies are almost 2 years old. *shrugs* I guess this has come from belonging to CIC and understanding your credit.
  7. Just thought I would drop in and tell all of you about my visit to the Doctor. Was filling out all of the paperwork and in the middle of it found a "Notice of Binding arbitration" It requested that you acknowledge that you had no right to the judical system for "any" complaint you might have on the services you received from their office. It further informed you that they would choose the arbitrator and that you "the Patient" would be responsible for paying said arbitrator whether you won or lost. It further asked you to acknowledge that the max recoverable amount for any malpractice on their part would be 200,000 minus the fees they may have incurred on defending themselves. I refused to sign it and they refused to see me. I just do not believe this is legal??
  8. As a followup the following is something I wrote for another reason, but seems to address your issue also: Having a Loan Type of Factoring Company Account is not a problem or a violation by the JDB/CRA. In the Credit Reporting world a Factoring Company is the same as a Debt Purchaser. A JDB gains no special privileges by using the Factoring Company label vs. using the more accurate description of Debt Purchaser. The use of the Account Type of "Open" also is not a problem or a violation by the JDB/Cra. It is an accurate reporting of the Account Type. Now here is where most JDB commit their violations. A collection account and a purchased "Bad" debt are the same thing and are supposed to be reported the same way. JDB's that use "Factoring Company" as the Loan Type are the ones that seem to "trick" the crediting reporting system into reporting a collection account as a Tradeline. They "trick" the system by failing to identify the two Original Creditor codes that are required. Examples of the first code are 02 - Medical, and 10 - Utilities etc. The second required entry in this area is the Name of the Original Creditor. The second area of violation is the Pay Status. By "tricking" the system as above, JDB's now have all the codes available that the OC would have and normally use the 120 day late code. If reported correctly Collection Account would be the only code available. To fully understand, you need to find the Credit Reporting Resource Guide, issued by the "Consumer Data Industry Association". This manual is the guideline for CRA's and Data furnishers on how information is reported.
  9. Just to clarify something here. A purchased debt can only be reported as a tradeline, if it was purchased before it became a bad debt. Several JDB's like to claim otherwise, but the law is clear. I have a couple of deletes and two checks from JDB's over this issue.
  10. The following is questions and comments about this: 1. If an account is not paid, then it is open. This is not a violation. 2. A JDB reporting itself as a factoring company is not a violation. In the debt collection world a JDB can call itself a factoring company if they so desire. They gain no special benefits from this. 3. Have you ever received a dunning letter or phone call from the JDB? 4. Is the debt truly yours? (Do not answer publically.) If it is truly not yours, then defamation is a wonderful thing. 5. Do you have proof that they received your DV, prior to verifing with the CRA's? (i.e. Green card showing a received date at least 5 working days prior to the date that they verified) 6. Is the account being reported as a tradeline or collection account? 7. Failing to mark a disputed account as disputed is a FCRA violation. However FCRA does not allow you a private right of action on this. So it really is not a violation you can use. 8. Failure to mark a disputed account as disputed is a FDCPA violation also. For this violation to stick, you must show that you have disputed with the CRA's and directly with the JDB on multiple occassions and the JDB has failed to mark the account as disputed each time. (Otherwise they will claim the error defense and slip away.) 9. Read your Federal Court of Appeals rulings and determine what your region has determined to be acceptable validation. (It is differant depending on where you live, and how your court has ruled on the matter.) Good luck!!!!
  11. Hopefully this is an educational story(Living it was very educational) about buying a bank owned property. 4 months and 248 houses later DW finds the house for her. (When she finds this house she informs me that she is moving there and I can come if I so desire.) It is a Bank owned property. The Bank requires a current (less than 1 month old) pre-approval letter in order to make a offer. So off we go to get a new and improved pre-approval letter. My bank issues the pre-approval letter, with the loan officer telling us that they really like to discourage their customers from purchasing foreclosed homes. Said things rarely end well. He finished with, "This pre-approval is continguent upon you have a qualified inspector, inspect the property prior to your making a offer. (His list of qualified inspectors had one name on it.) Home is inspected, and the estimated repair bill is $2040.00. We talk to the bank that owns it, and they say they are going to fix nothing, but may give us a credit for the repairs. My bank comes back with, "We will not approve the loan until the items listed are repaired." Bottom line is I agree to get the items repaired, once we have a signed contract with the Owner and the Owner has agreed to issue us a credit at closing. Everyone is now happy and we finally get down to hammering out the contract. After a week of wearing out a fax machine we finally work out a price and reach an agreement. Our Realtor prepares the contract for our signature, including the 15 addemdums added by the bank. Our REaltor states that at the last minute the Owner BAnk added another one and we needed to study it to make sure we agreed. This last addendum to the contract was full of all kinds of interesting tidbits: 1. Contract was null and void if closing did not occur within 30 days. 2. Contract was binding and could not be revoked by Purchaser. 3. Contract was not binding and could be revoked at any time up to closing by the Owner Bank. 4. When Contract was revoked by Owner Bank, any funds expended by Purchaser upon the property up to that date was forfeited. 5. Owner Bank reserved the right to continue to market said property for purpose of sale up to the closing date. 6. Owner required a good faith deposit of 3 percent. If closing did not occur within 30 days, this deposit was forfeited to the owner Bank. Now we know way BAnked owned properties are not selling!!!! Our Realtor passed the word on to the Owner BAnk, of exactly what they could do with their contract and house. We moved on and put a contract on our second choice, which was not a foreclosure, and hopefully will close soon.
  12. First off Spint is out of it. They probably sold the debt to AFNI or Cavalry. First question. Who had the debt first, Cavalry or AFNI? Second question. Did you pay the entire amount of the debt to AFNI or did you make a settlement?
  13. BigWoody, where do you get that there were several months of incorrect reporting? From the OP's post I have the impression that the incorrect information was posted on Thursday and then corrected on Saturday. If in fact the incorrect reporting went on for several months and the OP made several attempts to have it fixed without success, then a suit is appropiate IMO. But for two days? I do not think that case would get off the ground. As to the OP's problem, Cjtx gives very good advice. I can only speak from my experience, I once a 40 pt. Fico drop for mysterious reasons, a week later I had a 43 pt increase for equally mysterious reasons. Unless you are trying to close on a house right now, I would not get too excited. Usually these kind of bumps work themselves out with time. Once the information is correct.
  14. Yes it was a violation, and no not something to sue over, as it was fixed in a timely manner. In referance to the negative effect their mistake had on your FICO. Unless you get very lucky, the Data furnisher and CRA generally consider themselves as Data storers and if their information is correct and FICO does something weird with it. It is between you and FICO.
  15. Well we got Pre-Approved made an offer and signed the contract. Been playing 200 questions with Loan officer and killed about 5 trees so far, providing all the requested paperwork. Now my question. DW called the utility company to have the electric changed over to us on the day of closing and this is what she was told: "Due to the status of the current account on this property, we are unable to transfer the utilities to you. We will entertain the possibility if you bring the completed paperwork of the actual sell on the day of your closing." What is this? Is this something we need to address with our Realtor? Thanks Everyone!
  16. Great letter Amerikaner83!! Sorry I am chiming is so late. I have three questions for you: 1. Where does the FCRA give you a private right of action for the OC failing to mark an account disputed? 2. Where does the FCRA state that an OC cannot sell/transfer a disputed account? 3. What is your argument that the FDCPA applies to the OC in this case? Now DW is cracking the whip and it is back to the painting for me.
  17. Well I am just a poor half educated hillbilly, but the one thing I have learned is you pick your fights carefully. Cap 1 keeps excellent records! I say make them provide the information and if they can, SETTLE!!! QUICKLY!!!! While sometimes I disagree with Debt, he does provide what he thinks is the best advice, as you do, as I do. We all have our opinions and they are all worth the same. Bottom line is pick the court fights you can win, or expect to pay a heavy price for wasteing everyone's time.
  18. It really does not matter what you offer or how much you owe. Cap 1 has a settlement chart that states how much a CA can settle for. (I had it but cannot find it now) If I remember correctly, for that level of debt they will accept @55 percent of the total.
  19. I would take the time and let these fall off naturally.
  20. In my very unprofessional opinion, I believe what is happening is that the Judge is going to give you the opportunity to present your defense. If you have a legitimate defense, she will vacate the judgement because of improper service. If you do not have a valid defense the judgement stands. Prepare your defense appropriately.
  21. From my extensive reading I firmly believe that tolling for FDCPA violations is basically nonexistant. You have a year, use it or lose it. That is my belief, and caselaw seems to support it. Of course there is a couple of cases out there that have allowed tolling, but that seems to be a minority IMO.
  22. Nope you have nailed the issue squarely on the head. PFD is an excellent deal for the debtor, OC and the CA. However CRA's get paid because of the negative info on your credit report. The more negative information they have the more their services are deemed to be worth. VERY, VERY VERY rarely will you reach a PFD agreement with a CA that is actually not a trick that the CA has no intention of following through with.
  23. How long did it take you to close once the contract was signed?
  24. Went to bank last Tuesday with all information requested, including my VA cert.. He pulled credit and said middle score was 640. Said that he could not do a automatic approval, it would have to go to Underwriter. Said it would be middle of this week for it to get back but we seemed to meet VA guidelines. Now is saying maybe Friday or middle of next week. Should it take this long to get a pre-approval? We have to have this approval before we can make offer on a house we love. Any words of advice would be nice. Have never used VA before.
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