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Everything posted by tx3amigos

  1. If you live in Austin TX. A 800sq ft one room apartment is going for $950 a month (a $200 dollar/month increase from last year). A relative of mine just bought an 1900sq ft house in Austin and has payments equal to $950. She plans to rent out 2 of the 4 bedrooms to cover her house payments. And she'll also get a tax break from interest and taxes. In this case a house makes sense. If I was you*** For practice, rent a cheap decent apartment. After you pay the rent, put what would be the extra amount that a house payment would be, in a savings account. If you find out you can't come up with this imaginary house payment every month, then you are not ready to have a house. (example , Let's say the house you want to buy has a monthly payment of $1000/month. If your current rent is $500 a month ..pay the $500 rent and also put another $500 into a saving account. If you can do this for a year, you can probably afford a house and you'll have saved a down payment at the same time.
  2. Under "Sample letters" above in blue...there is a sample letter to send to CA when they try to report a "zombie" account to the CRA. I used parts of it when I received a collection letter on an old accout that had dropped off my CR. They stopped bugging me after that.
  3. Thanks everyone....by spring I'll be past the 6 yr SoL for CA and CO so ..I know I'll sleep better !
  4. EX-wife and I bought a car together in Colorado while I was in the Army. I moved to Texas and we divorced. She got the car in the the divorce(she didn't re-finance, so my name is still on it) so the car went back to her in Colorado. I found out a year later she let it get repoed in Colorado. She has since moved to California. Even though I'm a TX resident and was listed as one in the service, I'm sure the car contract probably had a "choice of law" (I think that's what it's called) of which state the SOL would fall under. I 'm guessing since we bought it in COlorado, it would be that state. I don't have the original contract so I don't know. Been holding my breath during the 6 year CO SOL time limit. My question is: 1. The contract could possibly have a: choice of law" clause for any state it wanted to use. So the SOL could possibly be for a state with a 10 year SOL, right?? 2. If we get sued, will they sue both of us? Is the debt divided between the two of us? Would we both get a 1099 for 1/2? 3. If there is no "choice of law" clause, which state laws do they follow/ my TX(4yr sol=Ok) or her CA(6 yr sol=almost there) or the state the car was purchased in (CO-6yr sol= almost there)?
  5. I closed a bank account. Three months later I got a letter saying the bank did an audit and they found out that I owed $57 dollars. And this $57 dollar payment would close my account. I kept the letter and a copy of the money order i sent to them. Good thing, because 8 months later I got another letter, saying another audit found I owed $250. I filed a complaint with my state's attorney general(sent copies of everything).....The AG made it go away. Next letter from this bank said I was paid-up...account moved from the negative side of my CR to the positive side.
  6. I received a 1099 for a forgiven debt and completely forgot to include it in my tax return months later. The IRS 'found it'.... 2 years later and sent me a dunning letter for the the taxes owed plus the interest it accrued during those two years.
  7. A while back I advised a newbie not to mess with a CA on a $300 debt within SOl. -- I personally don't send a dispute to the CRAs or make any contact with anyone associated with a debt, unless I'm (1.) ready to pay it off in full (if a lesser $ amount or the PFD doesn't work) or(2.) the debt is past the SOl. You pretty much said I was 'full of it'.... never heard of anyone getting sued for such a small amount etc. My reply was: I was sued for $200 and carried that judgement on my credit report for 7 years..it sucked. So, welcome to my world....glad things turned out better for you than it did for me. You're right, it depends on who you owe the money to... "Once sued , twice shy!"
  8. I usually write the "date of the letter" by the Article Number (strip of numbers applied to the bottom of the green card ) so I can make sure I can match the green card to the copy of the letter that I keep in my files. {And I also write this same Article Number on the bottom of my letter-copy and the original letter I mailed out= so green card & letter can be matched}. Marking the date written/mailed helps me have an idea of the response turn-around-time, especially if I have had to send numerous letters to the CRA or CAs.
  9. Repo Laws - Repossession Laws - Repo-Laws.com Repo Laws - Repossession Laws in Texas: Where do I refer to for Title or License Registration? For state Title and License Information, refer to: Texas State Department of Transportation, Division of Motor Vehicles, 4000 Jackson Ave., Austin, Texas 78738. Tel: (512) 465-7611 Security Interests: Shown on title held by lienholder. Recording Requirements: Per the Uniform Commercial Code adopted July, 1966: Must be filed in the office of Clerk of County where mortgagor resides, or where property is located, if mortgagor is non-resident; but does not apply to motor vehicles. Recovery Requirements: As per the UCC, repossession is allowed and permitted as long as it is peaceful. Redemption Requirements: Ten (10) day redemption. Deficiency Requirements: Confession of judgment notes are invalid but deficiency is permitted if so stated in lien instrument. Special Motor Vehicle Provisions: All liens must appear on Certificate of Title to be valid against third parties. Lien is noted by the State Highway Department on receipt of the certificate until paid. Documents Required to Transfer Ownership of Motor Vehicle: Certificate of title in lienholder's name or debtor's name with lien release, affidavit of repossession certified copy of lien instrument, notarized Power of Attorney. Contact local agent for further details. Documents Required for Liquidation: Repossession affidavit (D12-264) if Texas title; out of state repossession affidavits accepted. Plates: Remain with the vehicle. All recovery requirements and fees are current as of 2002.
  10. I also have a repo on my report. Since I never want to be sued and lose ever again..if I was you, I would wait until you're past the SOL for TX (4 years) before I stirred things up. {In my experience}, then, (after SOL), the OC might settle with you but they wont remove a TL (& you'll probably get a 1099). They'll mark your report " settled for less than full amount". Whereas,{again in my experience}, a CA might PFD. Be careful. I had pulled my CR two other times and I swear the only thing listed was the CA. So I assumed the account had been sold to a JDB. I googled the CA/JDB listed on my CR and the website for this CA/JDB company was actually a collection company used by the OC to collect their debts. ...While you are still within SOL, the' power' is probably with whomever can sue you. ( Unless repo regulations were broken: no redemption period, no notifications etc) If you need a car sooner than later, save you money and buy a beater that will last until you're out of SOL or past the 7 year reporting period. I drive a 20 year old pickup..and will drive it 2 more years until my CR is clean.
  11. Has anyone or does anyone know of someone who sucessfully purchased a home by paying a tax deed?
  12. Writing this for a friend. She had a BK 2 years ago. She was trying to clean up the lates/or remove some of her BK accounts. Disputed with CRAs & NOW EX shows them being listed as: *charge offs with more lates showing- INSTEAD of - discharged in BK 7* 1.IS a "chargeoff/sold to other"- better or worst then a -"BK" comment??? ...Experian is showing this..all OCs have a "0" balance. 2. Will having them listed as COs make it easier to get them removed totally from her CR, than if they are listed as a BK discharged accouns?
  13. I would send all your information to your state attorney general and another copy to the attorney general of the state these guys operate from. Let them work on it. I was getting scammed by Armed Forces Bank and my AG took care of it ( now it even shows as a positive account on my CRAs-)
  14. Last time I got a collections call, I let my very very talkative ADHD 7 year old son answer the phone. The CA will ask if Daddy's home...he give them a 10 minute talk about his favorite movie or what he wants for christmas,& if they ask for his mother to come to the phone, he'll tell the CA about her living in another state and his other half brothers and what they did last summer...etc. It's so funny to hear the frustration in their voices when they can't get him to stop talking. (I did this for a CA who kept calling for someone I didn't even know) This also works really well with a 3 or 4 year old (tell them to sing Happy Birthday or have them just keep saying "hi grandma/grandpa" over and over again.)
  15. Thanks for you info...clearly explained and useful. As someone who was sued for $200 while I was in the Army and had the judgement on my CR for 7 years, I don't like to alert the CA until after SOL is up (4 years in TX)... too paranoid. Also since I'm a college student, working part time and raising my son by myself...don't have the time to study court summons, miss classes or work.... so suing or being sued is out of the question for me at this time. ( I wish I had known about this forum before my judgement..could have settled out of court...this was back in 2001 so it's gone now). Many posters will tell the OP that they probably wont be sued for small amounts...but, in my case, I was. It must depend on who the OC is. Would like to know why pulling one's credit report starts the letters and phone calls from CAs who haven't been heard from in years? Any way to prevent this from happening?
  16. I have something similar to this happening. Click on the blue link above that says Sample Letters. Look for the letter to CAs about zombie accounts....revise it to fit your situation....that's what I did. It's kind of a C&D, past SOl, and I'll take legal action letter all in one.
  17. Sent them a modified "zombie" account letter (revised one from this forum/ C&D/ and will take legal action etc-- bundled into one letter. Account is past 4 year SOL and is also 8 years old and not listed on CR...that letter should do it!
  18. I had an OC (crap 1) and it's CA( zenith) reporting on my CRAs last year ( june 2010). They have now dropped off (past the 7.5 years of CRA reporting and way past the SOL). Now I'm getting a collection letter from First National Collection Bureau saying they are a collection agent for North Star Capitol Acquistion (actually another name for Zenith) who was collecting for a Crap 1 debt. They are offering "a deal" I usually dispute with the CRA first but FNCB and NSCA never appeared on my report and OC and it's Ca are gone( just pulled it 3 weeks ago)so do I just skip this part and go straight to DV/C&D letter, right?I don't want to pay this JDB, not sure if they own the debt and don't want a "reappearance" of the old debt on my CR for another 7 years) I'm guessing some JDB bundle old debts, nearing the 7.5 year mark, and resell them....Also, I never get any letters or phone call from old CAs until I pull a CR....that sure seems to stir the crap up!
  19. Since you make these trips just a few times a year, why don't you just rent a vehicle for those trips? It might be cheaper than more car payments at a higher % for years & years.
  20. When I look up SOL for Colorado it shows 6 years...but the comment ( below )about the UCC makes it look like it might be 3 years. Don't understand what the Uniform consumer credit code is. Can't find a good non-legal explaination. Also is UCC for Uniform commercial code or Uniform consumer code? Colorado Statutes of Limitation Domestic and foreign judgments: 6 years and renewable each six years. Note: If for child support, maintenance or arrears the judgment (lien) stays in effect for the life the judgment without the necessity of renewal every six years. All contract actions, including personal contracts and actions under the UCC: 3 years (C.R.S. 13-80-101), except as otherwise provided in 13-80-103.5; All claims under the Uniform Consumer Credit Code, except sections 5-5-201(5); All actions to recover, detain or convert goods or chattels, except as otherwise provided in section 13 -80-103.5. Liquidated debt and unliquidated determinable amount of money due; Enforcement of instrument securing the payment of or evidencing any debt; Action to recover the possession of secured personal property; Arrears of rent: 6 years, (C.R.S. 13-80-103.5) I guess a car repo in"liquidated debt" so it would fall under 6 years? right?