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Everything posted by cap1kid

  1. The key is it's a TAX CREDIT- not a loan- it reduces your tax liability- I would like someone to explain exactly what it means- If my take on it is correct- Suppose you make 200,000 a year and pay 17,000 in taxes- your tax liability is now 2,000. Suppose you make 55,000 a year and you pay 6,000 in taxes- your tax liability is now $0.00 - that doesn't mean you get the difference back (15,000-6,000= 9,000) as a refund. Is this assumption correct??? I'm truly not understanding this tax credit thing.
  2. The bottom line- if he gets some goober Judge to sign a warrant- IT'S A CRIME!
  3. In some jurisdictions this may well be a theft complaint, unless you had a written contract. Usually the charge is 'theft by false pretense'. Just like you can be arrested for writing bad checks. I would the attorney generals' office in the parish he works from. I don't think Louisianna has jurisdiction over this because the goods were exchanged in Maryland.
  4. 1. Stop applying for more credit cards- your inquiries drop your score- and lenders use it as a factor in determining whether to issue credit- or alter your terms. Why do you need a 300 walmart and target card if you have a $7500 fnbo card??????? those cards are junk- 2. All those new cards have creating a 'young' avereage age of accounts- again lowering scores. 3. Keep your utilization down to between 10 and 25 % - unless you are precise about paying before the reporting time- your gonna end up with high utilization. 4. I'm sure your scores were rising (based on the increased credit limits) just take care of the cards you NOW have. Once you get a $1,000+ card- do not go back and get lower limit cards for the sake of getting cards. Try a goodwill letter to the auto loan- or disputing the lates-
  5. They have FHA now. I'm waiting to see how the stimulus plan works out- they are talking about 4% mortgage loans and 7,500 tax breaks (that don't have to be paid back)
  6. Your a cash cow for CRAP1. The favorite kind of customer. I bet the Credit Limit is low enough that they don't risk losing a bunch of money if you bail- but enough that you keep racking up fees. Good Luck!
  7. I have a Chase charge off that keeps updating every time I dispute it. The amount due is $3000+ the original amount was around $900. The account had been delinquent for 4.5 years and is beyond SOL. I have enough other credit that its not damaging too much on my utilization- the problem I have is that in the next month I hope to apply for a FHA mortgage. What should I do about this account? I can't pay the full $3000 and still have down payment money- Will they accept and offer and show a zero balance. It went to a collection agency once- about 2 years ago- I DV'd them ( the collection agency) and it never showed up on my credit reports, and they didn't sue- they left me alone. Anyone had luck with CRAP1?
  8. Obama's stimulus package allows this tax break- BUT IT WON'T HAVE TO BE PAID BACK!- I don't know if it passsed yet.
  9. How old is the debt that it's not reporting? Do you have a SOL case?- Maybe you can get them to agree to a 'non-disclosure' clause- with penalties outlined- I'm not an expert at this by no means- but it seems- you've done well. !!
  10. I wish I lived in an area where you can buy a house for $100,000- Near me anything better than a mobile home is 250,000. I got a company car- so maybe I should move further out (away from beach) and commute- but then there is the whole school district issue....... oh my!
  11. Does the utilization lumps all cards together? or if your over 50% on one and the rest are low- does that drop the score? For someone whose never had a mortgaga- what should your mix of credit be to get the best 'mortgage score' /
  12. You are entitled to 1 free report a year from each reporting agency. Go to www.annualcreditreport.com this is the FREE one- be wary of imposters offering a pay service. The free reports do not include scores. I know with Equifax- they provide a report number. I have heard that if you go to EQ's website and click the start dispute link- you use the number from the report and get an updated report- apparently you can use the same number over and over again- exiting each time before you actually start a dispute. I don't know how it works for the other 2 agencies.
  13. Geronimo- may I suggest the following- Since you haven't had a card in so long- you don't rely on it- Great- but you need to build some recent GOOD credit- 1) Join a credit union- a lot now are based on geography (county, city etc.) or occupation 2) Open a savings account- and place what ever you can each paycheck- say 100 a pay- until you reach $1000+ 3) Ask for a 'secured credit card" from the credit union 4)keep making those deposits in your account 5) never let the balance get over $400 6) use it to pay a monthly bill- such as a cell phone bill- and pay in full everymonth ( your use to the expense anyway) 7. treat the card nice- and it will treat you nice! let the bad stuff age off.
  14. I use Creditkarma- it's free. I really don't think they pull daily- I think what they do is pull once in awhile and analyze your score based on natural aging of accounts. As far as using it to B*- I have no idea- you don't actually see a report- you see one score- and my CreditKarma score was 17 points lower than rue FICO score. I was getting two inqiuries gone a day- using CK and TC daily- back when TC was a daily pull.
  15. There's your aswer- go to Disney World- do SeaWorld later in the week- it is more relaxing and you'll enjoy the change of pace. Cruises are great- but kid's want Disney World. Then you don't have to worry about passports- Have Fun!
  16. Sure- your score will bump up. But the most important factor now is your recent history. As far as the housing application- see how it is worded- don't lie- but do not offer unsolicited info.
  17. When you get Life Insurance you designate a beneficiery. If you have no will and die- your estate is divided according to state law.
  18. One nice thing about Chase, I found that if you call the number and request name dialing- you can actually get a VP or higher up on the line. The way I did it was found the name of a person whose name was listed on a generic letter they sent me. Did the name dialing and spoke with a senior VP- the first words out of my mouth was about needing her information for a subpeona. She listened. It was was something about a fee reversal on a savings account. Problem Solved!
  19. Yesterday I got a letter from Fingerhut saying my Credit Limit was now $50000. My first thought was $50,000- I could buy all the junk they sell and still not spend $50,000. (If you have Fingerhut- you know what I mean) My second thought was TYPO!- So I logged on my account to find my credit limit was $500. Much more reasonable. I really didn't want a $50,000 credit limit from FH- the temptation would be too much. Looks like the made a typo on the letter they sent me- misplacing the ".".
  20. Way to go needhelp- who is offering you a bailout? I believe that Chase got 29 billion dollars of taxpayers money that you had no say in. Crap1 did the same thing to me- late fees leading to overlimit fees- default interest- I walked- I would have gladly paid the $750 I owed them- now its ballooned to $3000? Steal a little and they throw you in jail- steal alot and they make you King!
  21. My opinion: right now your concern is about a possible lawsuit before the SOL runs out. 1. I would find when you made your last payment- clock 5 years from there. That should be how long they have to sue- (assuming Missouri's SOL is 5 years for CC) 2. Lay low- don't draw attention to yourself- until either: a) the SOL is up they sue 3. You can worry about it reporting- after the SOL is up. Just my opinion-
  22. www.annualcreditreport.com The REAL free credit report- if it isn't there it isn't on any reports- or go to each reporting agency and buy them individually. Don't go chasing ghosts.
  23. Looks lke they've covered all the bases- unless this is legitimately a case of fraud, they stand a good chance of winning a potential lawsuit. What is the SOL in your state? That may be your best defense.
  24. Chester- you should know better: 1. don't deal with crap1 2. don't pay fees next time your 'itching' for a card- put 50 or a 100 bucks a paycheck into CREDIT UNION- AND WHEN THAT ACCOUNT GETS OVER 1000- get a secured 1G card- treat that nce and you will get better offers!
  25. Charge-off is just an accounting term- They sold the debt to a collection agency They will report 7.5 yrs from first delinquency that led to charge-off. Check your state's SOL- it may not be collectible- or they may try a lawsuit/ Remeber- SOL is a state issue and has nothing to do with reporting period. My bext guess is to leave this thing alone and let it die a natural death.
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