betam4x

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betam4x last won the day on February 9 2008

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About betam4x

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  1. While i know little about mortgages and FL statutes, i'd have to disagree with this. If there is no note, then public records can be called into question. Lets say Bank A says person owns $100k for a mortgage, yet bank A has no evidence (because the note was destroyed.) Bank A tells various agencies that person owes 100k. Bank A has no evidence BECAUSE the note was destroyed. Therefore, information reported to public records was faulty. Even if they report it to the state, if they don't have an original paper trail to back it up the information can be considered faulty. Now how a bank or ANY institution manages to lose data is beyond me. As a solutions developer one of the first things i learned to do was back up early, often, and to multiple locations. If there is a fire in one location, your data should be secure in another location. It really is not hard to keep this information safe and secure. You don't need the original paperwork, just a scan of the original paperwork (showing the borrowers' signature.) It amazes me how banks and CAs and JDBs are in such a bad state of affairs, even though the technology exists to prevent this. When i signed up for a cell phone contract in 2002 I had to sign a physical paper contract. That contract vanished into thin air. Cell phone company doesn't have it. They have no evidence i agreed to the terms. It's not hard to slap it on a scanner and SCAN it. It baffles me why nobody does as much. On a system i helped develop we scanned everyone's DL and signed contract. That information is kept on file as long as the user remains a customer with the company in question. We pulled that user's credit file and had full documentation that we had PP to pull their credit report. If there was ever any dispute we could EASILY show them a copy of their contract WITH signature. We have TENS OF THOUSANDS of clients for that particular solution. The company I helped develop it for was taken to court 5 times. They won all 5 times. They had full documentation.
  2. I think the world is coming to an end. FP just gave me a CLI of $100. New limit: $350.
  3. If the law firm is the same law firm you sent the DV to then they are considered debt collectors and are subject to the FDCPA. I would consult a lawyer in this situation. They have violated the FDCPA, you might be able to find a NACA lawyer to take this on contingency and file a countersuit. Most people will tell you to try and settle, but this is 12k and 10 years of credit history we are talking about here. Not something i'd take without a fight.
  4. Hi Robert, I'll have to disagree with you here. The CA BROKE the law. Regardless of him owing the debt. He was making a good effort to pay it back and they started messing with him. If it were me I would sue for the violation. I'd still pay back whatever I was obligated, but I would sue or at least settle for a deleted trade line. Failure of people to exercise their rights is the reason that most companies find it easier to not follow the law. Whats the use of following strict laws if you can make MILLIONS by not. Since the FDCPA damages are limited to $1,000, if i lose $1,000 + fees but make millions on hundreds of thousands of other people, I'd chalk it up as the cost of doing business. If everyone exercised their rights then we'd see situations like this happen far less often.
  5. Hi Guys, I need some advice on what to do with FP. Right now they are one of my oldest open TLs with only my student loans coming in older. They are around 7 months old. Should I leave them open a while longer or should I fire them? I currently have a lot of new TLs (12) that need to age. I don't have a problem with paying the annoying monthly fees involved.
  6. Holy ****, was just approved for $4500, is that a fluke or what?!?! My scores are 563/604/608 (tu/eq/ex). When the lady told me the limit i almost fainted. My fiancee and I have our wedding next year and this should help. Now to apply at jared's as well!
  7. I wasn't trying to start/add to a flame war. Let me add clarification to what i meant last night, i was tired and remained brief. That being said, i'd like to mention a tidbit of extra info that you may understand. When i'm talking about 'extra things' i mean deleted accounts, disputed items, anything covered under the FCRA. This information does NOT get handed out. REGARDLESS. Doing so can be a violation of the FDCPA, FCRA, and possibly other statutes. What I'm NOT talking about are marketing things, for instance: What your income is, your employer, etc. All of that stuff every large company collects about you (including credit card companies). These things are sold to various agencies, but your name and personal information are removed. Due to state and federal privacy laws this information cannot be handed over to various companies unless your personal information is removed or they have your expressed written consent. This data is known as demographic data and everyone collects it, including the founders of this message board. For example, you'll never see EX sell your bank account information or SS# to a 3rd party, it's illegal in many states and there may also be federal laws making it illegal as well. You'll also never see EX sell disputed/deleted accounts to a company doing a credit check on you. It's highly illegal under the FCRA and FDCPA. It doesn't mean they don't keep/collect the information, it just means they can't sell it.
  8. Actually I do integrations work for vendors that develop solutions for banks. I.E. when you apply for a credit card, car insurance, or submit an application online for a rental property, it may be my code that pulls your credit report. I am not trying to start a flame war here, but speculation and paranoia gets us nowhere. While I won't claim to know everything about reporting, I will tell you that I've never seen a report pulled by anyone, underwriters or otherwise, that has info that wasn't found on the consumers credit report.
  9. A threat to file a complaint with your state's bar association for unethical practices could do the trick, if it doesn't, contact the bar and file a complaint. You'd be surprised at how quickly this can get results.
  10. Actually, I am speaking from the point of view of someone who DOES have experience. I do a lot of work with integrations from both the CRAs and various court systems around the country and i can tell you that what you see is what you get. My original response stands, CRAs have more info then they report, but they don't divulge that info to third parties, even underwriters. Now if you have some evidence to show otherwise, I welcome your response, but please don't add speculation and opinions, especially ones on subjects which you seem to know so little about.
  11. Robert, I hardly think ANYONE wants you banned, even those that don't agree with your point of view. I for one enjoy your posts.
  12. Yes, a Credit Report has much more information than is provided to consumers. HOWEVER, the same report the consumers see the banks see as well. The fact that the banks see something different from the consumer is a myth. The CRA has ALL your data, deleted or otherwise, as well as some data they don't make public. However, if you disputed an item off your report, it should not reappear even when you merge a split file. If it does I'd wait for a reinsertion letter and send an ITS with court papers when it doesn't. The items that WILL appear will be items that were never disputed off, etc.
  13. How could a JDB possibly verify a 623 as being correct if they aren't the original owners of the account?
  14. Another question related to 623... If a JDB purchases a debt and starts reporting it (and the OC removes it), would the 623 request go the JDB or OC?
  15. To obtain the highest possible FICO score you should keep your balances low, usually around 10%, but avoid a 0 balance being reported on your credit reports. The best way to do this is to follow these steps: 1) Sign up for TrueCredit 2) Pay off all your cards 3) Pull a new report from TC every day. 4) Pay attention to when your various credit cards update their information. 5) Try to make sure you have a balance around that period. Only 10% or so. On a $1,000 credit limit this would be $100. The whole process will take you a couple of months, but you should see your scores jump up as a result.