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BigJT

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Everything posted by BigJT

  1. A couple of the companies sent him a letter saying something to the effect of "this letter confirms the verbal agreement to electronically deduct $x monthly from your bank account." It didn't say for how long, or what they would do in return. Interesting tactic.
  2. OK, so it turns out he's made payment plans with a couple of JDBs and a CA. He let them automatically take money out of his account. I told him to cancel those drafts ASAP. Beyond that, I don't want to advise him to do anything that will result in him getting sued. They're all calling him, even the ones he was paying. He wants the calls to stop. We're in Texas, so we can still DV. Is that the way to go, or is that just going to precipitate a suit?
  3. Thanks, I will find out more when I talk with him tomorrow.
  4. So I'm talking to a friend of mine about helping him with credit repair, and he tells me that he has some collection accounts (credit cards). He made the mistake of working out a payment agreement with them where he sends them a few dollars every month. Once someone does this, what can they do? They've basically admitted that they owe the debt, they've restarted the SOL, and they've wasted some money. What can be done?
  5. If anyone could find the link, I'd really like to read that article.
  6. That's strange. Are you sure they weren't just asking you for a copy of a bill or something to prove your address? Don't worry about the accout numbers. Just identify them as they appear.
  7. Some people have had success with online disputes, but the seasoned experts here recommend that you ALWAYS dispute via certified mail, return receipt requested (CMRRR). That way you have a paper trail in case you have to sue them. Go ahead and dispute all of them. Send a letter to each bureau and get the ball rolling. How long is the statute of limitations for these debts in PA? Are the debts in/out of the SOL? Also, once you dispute, the bureau will send you a copy of your updated credit report.
  8. Have you disputed the medical collections with the 3 credit bureaus? That would be the first step. With them being from 2008, they might fall off. Are there any other negative items on your reports?
  9. Sure, I would call it a ripoff instead of a scam. I don't think the business should be outlawed, I just think its a waste of money, like the lottery or scented candles.
  10. Lawyers and mechanics both have specific, identifiable, difficult to obtain knolwedge that enables them to charge money for what they do. What knowledge does any debt settlement company have that is not available to me through a google search?
  11. Well, that one says that any claim arising out of or relating to the "Program..." Program is a defined term, so you'd need to find out the definition.
  12. Wow, 90%? I guess that makes sense. I guess people should get an account with Timbuktu National Credit Union.
  13. So how does one go about that? How to creditors find bank accounts in the first place? Would it be effective to open an account in a state you don't live in, travel to, or do business in?
  14. A related question: does utilization include authorized user accounts?
  15. This is a big deal, guys. I'd look at your terms and conditions if your credit monitoring service.
  16. Nice! Congratulations!
  17. I would dispute those trade lines with the credit reporting bureaus. Depending on how long ago they were closed/charged off, they might fall right off. After that, you could do a 623 dispute with the original creditors. With regards to the statute of limitations, I believe it starts at the date of last activity. That may differ by state, hopefully someone who knows about Virginia will chime in.
  18. In writing a settlement offer/pay for delete, should you give information about your finances that might make them more likely to settle with you? For example, if someone has made below poverty-level income for the past few years, has no real estate or garnishable assets, and is possibly even judgment-proof, does he put that info in his settlement offer in hopes that the creditor will be more likely to settle?
  19. So I found out something interesting today. CreditCheck Total is owned by Experian. Many credit monitoring sites out there are owned by, or have some relationship with, the big 3 bureaus. Look what I found in CreditCheck Total's terms and conditions today: The way I read that, if you use this service, and Experian violates the FCRA and you sue them, they could invoke arbitration and you wouldn't get your day in court. If you use a credit monitoring service to get reports regularly, I encourage you to look over the T&C and see if there's an arbitration clause. Post your results here.
  20. I spoke with someone today who works for a credit attorney (he himself is not an attorney), and he told me that OCs are not obligated to respond to 623 disputes if they are reporting the account as transferred to another lender on the credit reports. I can find no such distinction in the FCRA. Has anyone else heard this?
  21. Keep in mind that I know less about the law than most of the other posters here, but NOW is the time to do this IMO. Don't wait until you are sued, as there are laws against moving money around in order to avoid garnishments and such. It's very easy to open a bank account in Canada. I would highly recommend that you look into that. Just keep in mind that you'll have to report the existence of that account to the IRS next year on your tax return.
  22. Yes, especially since it also has this: "Please Do Not Ignore This Notification! It’s Important to You and Your Credit Score!" Could that be construed as a false threat? Ignoring the notice shouldn't have an impact on his credit score.
  23. Did you get a free report from annualcreditreport.com? Did you send them any additional information after you mailed the dispute? Those are the things I can think of that would give them some additional time. If they don't reply, you can sue them. Or you can play it less aggressive and just send a follow up letter.
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