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Everything posted by RockDaddy

  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.
  15. I also have a problem with the wording of their letter to the OP. As stated here, the Least Sophisticated Consumer might easily be mislead by this language. I see a $1000 FDCPA Violation, or at least good grounds to go for it. Keep in mind that although the SOL is past and they can no longer put it on your credit report, they can and likely will, continue to ask you to pay. Just know your rights and of course, pay them nothing.
  16. This debt will fall off of your Credit Report 7 years from the DATE OF FIRST DELINQUENCY. If your math is correct, you've still got another 1 year and 2 months to go. I suggest you pull your credit reports from the Big 3 (Experian, Equifax and Trans Union) to find out the Date of First Delinquency to know for sure. Question for You: Can't you get on the waiting list, even with negative's on your credit report? Or do you not want them seeing that you didn't pay a landlord? I certainly would NOT pay it. It won't help your credit score in any way. It's so old now that I doubt it's actually having any effect on your actual SCORE. Best of Luck.
  17. Hey Friends, Long time board member here with a few questions about paying back Medical Debt vs paying Utilities Debt, both are in Collections. Which is preferable? My Goal: To get this stuff off my CR or best case scenario possible. In short, last year I was in a very bad auto accident (only me, no other cars were involved), and I didn't work for a long time due to bodily and brain injuries and have moved several times since last May. All of this happened while living in Florida, though I am not currently there. Mind you, my Auto Insurance covered 80% of things, leaving me with these. (plus a few more NOT currently in collections, question about that afterwards) I have 2 medical bills in Collections (one for $118 and one for $691) and 2 Utility bills ($157 ATT and $221 Duke Energy). Who should I pay first? I have spoken to both CAs at the Utilities - best I can get is 'Closed, Paid in Full as Agreed' but will not Delete. The CA for ATT ($157) has sent me 2 separate 'pay less' offers, but would likely rather pay the full amount so it is reflected on my CR. I have spoken with the $118 Medical CA and they said that once paid in full, they will delete within 30 - 45 days. Should I get this in writing? I've been hesitant to call the larger of the medical ones for $691 because it's a big one. SEPARATE ISSUE- I have a couple other Medical Bills ($406 AND $1920) that are currently very past due but haven't received bills in months, nor are they currently on my CR. Should I call the Original Creditors in this case to try and work things out, or let them lie for now. I would rather send the OC's $20 a month rather than them hit my CR via a CA. I have had one OC accept this arrangement over a $2200 medical bill. Please friends, I'd like some advice. I'm not as sharp as I used to be here and need a hand. I appreciate comments and thank you for your attention! -RockDaddy
  18. Hey Folks, I've had a CA send me a demand for Overdraft Fees originally with Regions Bank. (about $500) Thing is, they've sent their collection to the wrong name, sorta. Lets say my name is: Samuel J Bontemps. The demand has been sent to: "J Bontemps Samuel" I'm just wondering if this is a violation, or if there's anything I can do. It has NOT hit my CR yet, but my 30 days has passed (just slightly) as I've recently moved. I've been thinking of sending a 'this isn't mine' letter but.... thoughts?
  19. I'd be interested to hear how this shakes out. Am dealing with similar. I've moved three times since an accident last May and know I did not receive mail in a timely manner. Thus, I've had FOUR small collections show up on my CR essentially crushing it and I'm very bummed about it. I did find one that has sent me a letter to my current and correct address that if I make arrangements "now"' to pay them monthly (a nominal $20 each month until paid), they'd keep it off my CR.
  20. I would imagine that it's because of the DOFD. The date of default *should* be the same, no? We know all about *that* list.... heh heh... just ask Coltfan.
  21. Proj, If you get OC's to forgive client's debt, they will be liable for taxes period. And think about this - if you limit your services to *only* the ones you've named in this thread, your clients might find you limited enough to find you suspect. I mean, I can see your reasons for taking only *certain* cases, but public perception may not be so kind. I typically like to help people see the way they *can* bring their dreams to fruition and will do so here. However, there are definitely major things to consider to be this 'helpful' at a profit. -RD
  22. R Delgato, I suggest you start your own *new* thread about your personal situation. You will get a LOT more responses. -RD
  23. I like this advice right here. Also BlackMetallic, I like the stuff you've put together so far for Production of Docs and Interogs.
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