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Proj1423

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  1. You have the option to pay towards the interest of your student loans while in deferment to keep the balance down. Do these payments count toward your credit score? Or are they ignored by the score because the status of the loan is "Deferred"?
  2. Forgiveness of debt only applies to PFD or winning.g a suit, right. You can't get taxed just for taking something off your credit report. You still owe the debt. Since I'm not messing with those, I think I'm fine.
  3. I won't touch anything not out of SOL. You can charge up front if you have a trust or bond in place. I'm not sure that forgiveness of debt applies since I'm not doing debt consolidation and won't mess with PFD. I'll educate them about it, but won't do it for them. I'm speaking from experience regarding sympathetic bank loan officers who have an interest in doing good for their customers. If you prefer to help the board, that's good. I want to reach further and help people that don't know help is out here and I'd like to do that locally.
  4. I'm hoping a limited power of attorney can help with the 3rd party issue. I want to discuss that with a lawyer. I would only charge a flat fee.
  5. Bank loan officers are people with feelings. Sometimes they feel bad about having to deny someone and wish they could do more. In this case, they would refer them to me. The benefit for them is the client will remember them and go back for the loan after they become better qualified. I used to be a loan officer back in the subprime days. I've seen the slimiest people do the slimiest things. I just want to do something where I am making a positive impact on peoples lives and something I enjoy doing. This seems like it.
  6. That trust is gained by looking a person in the eyes and helping them to create a long-term plan involving education and follow-up. I hope to not advertise at all. I want to build through referrals and word of mouth, starting off by working with local banks and mortgage companies.
  7. That would be ideal, but I think there's a market for this. People hire a cleaning person not because they are incapable of cleaning, but because they don't have the time or interest to do it themselves. The difference is that there's a much bigger benefit to a more accurate and positive credit profile compared to a cleaner house.
  8. I've seen it said that decent credit repair companies don't exist, so I'm thinking of trying to create one. It's not going to be an internet business. It will be "bricks and mortar" and only service people locally. I will have a one on one consultation with them to review the report with them to help them truly understand it. I'm going to choose 4 accounts based on being out of SOL and recently reported. I'll then work with the client to dispute and DV where necessary. Ill keep the client involved as much as possible and make sure they know they could do this themselves. I'll stay compliant with both state and federal Credit Repair Organization Acts. Any helpful suggestions for me to be successful and make the experience pleasant for clients?
  9. Thank you. There were plenty of lessons learned. Unfortunately, there is no discovery in a civil hearing. I mentioned it and the judge all but yelled at me. Everything I know about this stuff, I learn here. So the first thing I did was ask for Discovery. He said you can't do that in a civil hearing and that I shouldn't try acting like an attorney if I'm not one.
  10. Nothing was signed, just discussed without the judge present.
  11. Thanks, everyone. Was a civil hearing in Wyoming County. JDB is ACC, LLC out of Scranton, PA. Plaintiff dropped unexpected paperwork (bank statements) on me at the second scheduled hearing. I didn't need to ask for a continuance, judge just ordered it. This third time I could tell he was determined to end it that day. Even in hindsight, and if I had my arguments in order, I don't think he would have ruled in my favor. I attempted to ask for Discovery, but judge just got mad that I didn't understand that that's not how it works in a civil hearing. I read a lot here but wish I read more about procedure. Here's what they had: Generic cardmember agreement in the name of the OC. No mention of my name or account number. Bill of Sale from OC to a different JDB. photocopied and signed by reps from OC and JDB. Assignment of Account and Waiver of Notice of Transfer of Claims from intermediate JDB to Plaintiff JDB. Signed by intermediate JDB. Couple other documents obviously produced by the JDB so I won't even give details. Anybody would be able to get these thrown out. About six months of photocopies of full bank statements. Includes balance, charges, rates, everything. I can put together a decent defense of this, but was completely unprepared that day. I thought they were coming back with only the bank statements that I saw day one. I think they finally realized after two appearances that I was going to put up a fight and started cranking out fake documents, but I can't be sure. It's interesting that the first two appearances they sent hack newbie attorneys, but the third time they sent the big dogs and the VP of the company. (it's only 30 miles away from me) The original debt is legit and barely within statute, but I wanted to be sure that they had a claim before I paid. I won't pay someone without evidence that they really own the debt now. I discussed payment terms with them because I thought they showed evidence of a claim, but now after looking at the docs, I'm not sure. Trying to decide if it's worth looking into hiring an attorney for appeal or if I should just pay it. Hope I answered all questions. Let me know if I didn't.
  12. I did get snowballed. I was completely prepared to defend based on their lack of evidence that they had a claim to that debt. They had only showed me bank statements. The judge was already extemely mad and stated he wouldn't give another continuance, so I had no defense prepared when they started rolling out evidence left and right. If I knew they had all that, I would have gotten a lawyer. I seriously doubt the legitamacy of the documents they provided, but I wasn't prepared to argue it. The amount is 7K, so although it really hurts, I can pay it off relatively quickly. I imagine appealing it would cost about the same anyway. If I pay by check, they have free access to my checking account. I'd never give them my checking account info. The first thing they asked when we were discussing terms was, "Do you have a debit card?" Yeah right!
  13. A JDB took me to civil court and presented only bank statements. The judge got angry that I hadn't been given this evidence earlier and gave a continuance. This happened twice with very little evidence that the plaintiff had a claim to the debt. I prepared a defense that they didn't have a claim because they gave me nothing to proove that they did. I showed up for the third rescheduled hearing and they had everything. Proof of sales through two collection companies. Bank statements, card agreements, the whole nine. I admitted I had no defense and struck a deal to pay it off. Now the slimeball JDB wants me to start making payments to him and I can foresee them claiming they didn't receive payments or failing to give proof of payment at the end because he is a true slimebag. What's the best way for me to pay this debt without causing more trouble. I don't want to come up with the whole amount in a sum, but can I give the lump sum to the court and have them pay the plaintiff? That way there is proof I made payment and I can get the balance to zero on my credit report. I'm so worried about paying these guys and them claiming they never got payment.
  14. Forgive my lack of legal knowledge in this area. If I take a loss of $50 and report it to the IRS, I can still collect $500 on the same debt? Doesn't seem right. Not to say that isn't just the way it is. Assuming that I can't afford this huge lump sum payoff and the OC can't negotiate payments that are even close to affordable, I have to sit back and wait until they sell the debt to a JDB or sue before the 20% interest finally stops? Worst case scenario would be a judgement, right? I'm in PA so they can't garnish and the debt was unsecured so they can't seize. I think. Thank you for all your help.
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