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On Our Way

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  1. I have a unpaid charge off account from a WAMU credit card last activity was about 2 years ago. I havent heard anything from anyone in quite a while. I just recieved a letter from a local attorney about this debt. It somhow re-surfaced. I havent disputed it with CRA yet. Just a standard dunning letter, stating the account name, account number and amount owed. What should I do at this point? Should I send a letter to them requesting validation.. and should I send anything to the CRA's regarding this account? (keeping in mind that just yesterday I sent out a dispute letter to all 3 CRA's for other things but not this one yet. I am just worried about getting sued, the amount is $6000.00 which is more than I thought it was.. it should be aroung 4000.00. I cant afford to pay it right now, I really wish I could setup a payment plan with the OC, but I dont think thats possible at this point. Is this a good letter to send to the CA, I took it from a sample, but changed it up a bit. Date Re: Acct # XXXX-XXXX-XXXX-XXXX To Whom It May Concern: This letter is being sent to you in response to a notice sent to me on September 30, 2002). Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 ( that your claim is disputed and validation is requested. This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you. Please provide me with the following: What the money you say I owe is for; Explain and show me how you calculated what you say I owe. What fees/or interest has been applied to the debt and how you determined these fees; Provide complete payment history; Provide me with copies of the original signed agreement or credit application showing I owe this debt. Identify the original creditor; Prove the Statute of Limitations has not expired on this account Provide proof that you own the debt or have been assigned the debt; Show me that you are licensed to collect in my state Provide me with your license numbers and Registered Agents At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau’s (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following: Violation of the Fair Credit Reporting Act Violation of the Fair Debt Collection Practices Act Defamation of Character If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist. Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is. If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately. I would also like to inform you that, all calls to my home are recorded and that calls to my place of employment are prohibited. It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose. Best Regards, According to all 3 CRA's the charge off amount was $4,104.00 This letter states the amount of the debt is $6,052.00 How can this be so much different than the charged off amount...?? Im nervous about this one.... I was hoping it would stay asleep longer... help please!
  2. Just wondering if I request a free credit report because I was denied credit, does this still give the CRA 45 days to investigate just like the annual free report? I made sure I told them I was requesting one because of denial of credit...
  3. I normally wouldnt post advice, because I am in the learning phase right now, trying to get advice on my own situation. However, By all means, call the credit card companies, or better yet right them letters, send them certified mail so you can track everything you send them along with keeping copies for your records. Tell them exactly what your going through. Stay in contact with them. If you call them before they call you it looks better for you in the end, even if you cant pay. When things turn around for you, which Im sure they will, you may find yourself applying for credit, or a loan and the creditor wants an explanation of what happened at that time. It looks better for you if you have a valid reason and can show you tried everything you could to deal with the creditors. If you explain you just dont have it, they will want to know what you do have to pay, maybe for a while you could negotiate a lower monthly payment as good failth, maybe even 10 dollars a month if that is even possible for you. Whatever you do, dont just turn your back on them before trying to work with them. But please, I cant stress this enough, document everything! Write down who you talked to, what time, date etc... If your still current, your far from worrying about what they will take as a payoff. Settling your debt usually looks as bad as not paying in the end. I wouldnt even be thinking about that yet. I lost my house to foreclosure 1.5 yrs ago and turned my back on my debt without trying to negotiate or talk to my creditors... bad move on my part.. Im now trying to recover from it, who knows how long this will take. Good luck to you, I wish you the best.
  4. I dont have any immediate need for good credit. But I want to start ti improve it. Long term goals would be ultimately being able to buy a house again. We are renting now because we lost our house to foreclosure 1.5 yrs ago. I gave up on my credit when I lost my house, became depressed and just stuck my head in the sand.. Ive open my eyes again and want to get back on track with my life. Things are on the upswing now, have a good job, making more money. My Fico scores are 560-580 range, which isnt as bad as AI thought it would be, but some of the TL's look bad.... would like to get them off. I just applied for a secured credit card through orchard bank, because I realized I had no open accounts at all... Ill use that to start getting some current pos input on the CR.
  5. There are 3 with CA's attached. phone co, cable co, and a $31 collection from what I think was a medical bill.... I have 2 accounts that are not listed as collections. They show the orig account info, OC, account balance 0$ and states: Account tranfered or sold, charged off account. one was a credit card from Wamu, the other was a credit card from American Honda (not attached to any collateral) Tese are the 2 I dont want to wake up.... Wamu was almost 5k and the other was alomst 2k. I know im not out of SOL....
  6. Still soaking up info.. reading alot of posts, and have studied the laws... but Ive always been a procrastinator. I want to act but need some help.. None of my collections or neg TL's are within any kind of validation stage, all are over a year old.. Should I bother contacting the CA's yet with a DV or any other request? Or should I just start by writing to the CRA's to dispute derogs? This is from a sticky I wanted to try and follow the advice of: 1. The first thing you must do, is you need to obtain a copy of your credit report from all 3 agencies. A 3 in 1 report doesn’t cut it. There is much more detail to be found in the individual reports. Go ahead and spend the $30 or so. It is worth it. Save copies of the reports, you will need them. 2. Next, dispute all of the negative TL’s on your report. The older ones usually will come off the easiest. I got 4-5 deletions that way. This was effective on about 20% of my accounts. This will take 30 days or so for the investigation to complete. You can dispute over the phone, because I don’t feel like suing the CRA is the best way to go. If you aren’t going to sue them, you don’t need the documentation that goes with CMRRR. Suing CRA’s and getting tough with them may work for others, but I have had better luck dealing with the CA’s and OC’s. 3. Next, after the initial investigations are complete, look at the now verified tradelines. Are there any discrepancies? Do they all agree with each other? Or does your EX report show a $100 charge off, while your EQ shows a $110? If any do not match, that is good for you. The FCRA requires that all tradelines be “complete and accurate” and how can they be accurate, if they don’t even match each other? Legal leverage, to be used later. 4. Now, you will DV all of the remaining CA’s and send dispute letters to the OC’s. You can take your time and eliminate them in manageable groups. However many you have the time and money for, whether it is 3 or 10 at a time. The way to do this is simple. You just send them a letter telling them that you dispute. That is it, no special wording or anything is needed. In fact, I am now advising you to stay away from the sample “form” letters that so many are sending- the CA’s are on to them. Ive done number 1.. go me! on to number 2. (ill wash my hands after, dont worry)... Ive read to never use the phone, but this suggests its ok with the CRA's.. do all agree? and this also suggests I contact CRA's first, than when thats all done, contact the CA's and OC's... other posts say to do at the same time... as you can see, Im still confused. Another question.. I havent heard much from any of these CA's in a while, basically since I moved 1.5 yrs ago. Will I be poking a sleeping dog with some of these? My biggest fear is sending out letters than all of a sudden Im being sued for 5-10k dollars worth of old debt that Ill have to pay at once.. I know avoiding these probably isnt good either.. I think I just need a good swift kick in the arse to get me started! Thanks to all who offer advice. And to all who have posted advice on the forum for all to read.
  7. I dont know, but what does this have to do with my post? Highjacker!!
  8. All of my derogs happened when I lived in FLorida. I now live in Maine. ( i know, complete opposite!) When dealing with CA's, I want to check if they are licensed and bonded in "my" state . But in my case, what state would I check? Do they need to be licensed in both states to deal with me, and if they are not , is that good for me? Thanks!
  9. I have seen this book referenced on this site alot, and was going to pick up a copy until I found out it was pub in 2001. Alot changes over 8 years, so does anyone know if its worth it anymore, or would it be outdated. Are there any other books worth picking up on the subjeect that might be more current? Thanks!
  10. I have been reading, and reading and reading on this forum, I am like a sponge!! Trying to soak up all I can to arm myself before I actually do anything. I dont want to mes it up. I read all of the getting started stickies and posts for newbies and everytime I think I have some direction, I read another post or thread that contradicts what I thought was a good idea.. I learn that the best way to start is to do: A 1st b 2nd c 3rd but than I search for more info on how to do "A" I come across a whole thread about how thats a bad idea and never works.. or that I should do "B A than C" etc.. I know all of the posts are basically just opinions from the posters, but they all have solid experience behind them, but I just cant decide what to do. I will go out today and get a copy of that book everyone seems to be referring to"Good credit is sexy" I hope I can get some direction from that. Dont get me wrong, Im not complaining about this forum, I think its great. I just cant seem to decide on the best course of action to take. Im scared that I only have 1 chance at it and if I screw up Ill regret it.
  11. OK, I understand now... I suppose a foeclosure would be considered a judgment.. For some reason none of the 3 CRA have any public records listed on my CR's. It states foreclosure uunder the TL for the mortgage I had, but no public records.. I hope thats a good thing.
  12. Thanks for the reply. I had a foreclosure 1.5 yrs ago... Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11. does this mean that it can be removed from my CR after 5 years? And when does the clock start ticking? Thanks!
  13. I am trying to figure out exactly what this means: Florida Statutes of Limitation Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11. Libel, slander, or unpaid wages: 2 years. Judgments: 20 years total and to be a lien on any real property, it has to be re-recorded for a second time at 10 years. The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument. Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)). I recently moved out of Florida, but all of my derogs were incurred when I lived there... does it say if I move out of state the clock stops ticking until I return?
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