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RockDaddy last won the day on March 18 2012

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  1. My comprehension is just fine. I read what you wrote and thought it was pretty laughable IMO.
  2. As far as I've always known, reporting IS considered collection activity, no? I mean, I see your point about it being challenged, etc, but still... Either way it's a moot point as BV80 pointed out - I had a dunning letter & validation a couple of years ago. My recent move must have prompted their computer to send me a new letter.
  3. BV80, Thanks, I figured it was too good to be true. Thought I might get them with a catch 22.
  4. FHC, Would you elaborate on this concept? I have been searching for more info on this as a strategy to use, but have not had any luck. I have a debt that has been with a JDB for almost 2 years that is on my CR. They initially sent a dunning letter and also verified after I sent them a validation request. I recently moved and was sent a new dunning letter by them at my new address. I'm wondering if a new DV letter would force them to stop reporting to the CR agencies until they Validate? I'm wondering how I'd proceed with said leverage. How I'd obtain it, check dates, prove dates, etc.... Any input is appreciated. Thanks.
  5. I would hardly say this is 'accurate' reporting. Not sure how this helps the creditor make clearer decisions about credit worthiness / risk.
  6. Wondering if she might have an FDCPA violation against the first JDB, based on the Least Sophisticated Consumer statute? The FDCPA protects consumers from abusive and *misleading* collection practices and is based on the Least Sophisticated Consumer standard, meaning a debtor must be considered uninformed, naive or trusting. Sending two sets of statements that are contradictory would seem to fall into the misleading category.
  7. This is a good point. To the Original Poster - why not pull your credit report and find out if it was sold. Every time I've ever had questions for a Collection Agency about validity they have all said, 'Pay Us', which of course is in their best interest, not mine.
  8. FYI - Even if you pay this, it won't necessarily come off of your credit report, it depends on the CA. You could ask them for a Pay For Delete (browse the board for this), but get everything in writing first, including not selling the debt onwards. It sounds from what you wrote that you'd rather have this over and done with rather than the hassle of fighting, etc. If that's the case, try the Pay For Delete route. Personally, I'd fight it. P.S. I had this *exact* same thing happen to me, to the point that I had to have my bank manager close that account and open a new one. The gym was trying to charge me every couple of days... however, and thankfully, it never got to my credit report.
  9. Of course, even with your high interest rates, if you really DO have $3500 a month to use to pay down your debt, you'll be debt free in 6 months.... As part of your credit recovery program, you may want to try adding a mix of different kinds of credit, so you may want to grab that credit union loan. That would give you something other than just credit cards in your credit mix and as Clydesmom said above, would save you a boat load of interest.
  10. Nice to see you as well. I had back surgery recently, so I've been catching up, reading threads. It's entertaining and cheaper than a movie. Ha!
  11. I was under the impression that it was the *average* of ALL cards that keeps one's score down. If you go this route, more pay the Discover and Capital One first. Cap One usage is currently at 92.8% whereas BOA is at 71.6%.
  12. What's your goal? Is it just to reduce the overall amount you pay overall? Or is it to clear your credit report of the particular default. The medical collection has already impacted your credit score, so paying less than you owe on the debt or 'settled' will not help your score, it will just help your pocketbook. If I had the chance, I would contact the OC (original creditor - like Advanced Radiology, etc) and see if they can pull the debt OUT of collections in agreement for you paying it in full. This strategy will get it off your Credit Report. Some will do this, some won't. It's all about your goal and what you want to accomplish. Good Luck!
  13. Need more info. I'm assuming that the 'deal you couldn't refuse' was a deal offered for some kind of debt forgiveness and they 1099'd you, obligating you to the taxes on the amount forgiven. It's similar to when people pay an offer by a debt collector. It's recorded as Settled, but not PAID IN FULL. "Settled" is not nearly as good as Paid in Full, and it's costing you. My question is this - Since you own the property free and clear, why can't a mortgage company do a lower LTV loan and just keep your property if you default. I wouldn't expect any company to give you more than 15% - 20% max. If you really need the money, maybe consider a Hard Money Loan... but ouch, they crush you with Interest and Terms. Good Luck.
  14. I usually agree with Harry Seaward (cause his sage advice is very, very good), however IMO, it might make better sense to use your $1880 available per month to crush both the Fidelity & Cap One balances to Zero in 2 months. That way there would be no more minimum payment due on either of those two cards. Then go after the Discover balance with all you've got to get your Utilization down, down, down! As a side point, every time you open a new tradeline, you reduce your credit age. which has a Medium Impact on your credit score. I don't know your personal situation however, if it were me, I'd hold off opening any new tradelines and go for paying down your utilization. This would raise your score faster, if that's your goal.