almost_there

My credit repair progress/dispute results

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Oh, wanted to say Hi, hang in there, hoping the best for you.

Can you give a general run down on the ones you are trying good will on, see if there is a way to step these up for immediate help?

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Well, I tried a goodwill for 9 listings of my DH's student loan in round one, which is over with, the goodwill approach did not work.

I am into Round 2 now, which started with some DV letters, nutcase letters and settlement offers that were mailed a few days ago. I will do the run down on everything soon. DH is home right now, so we're house hunting and spending time together. I expect Round 2 to be quite....ummmmm, what's the word here....dynamic maybe :? If it goes just a little bit better than the deletions I had in Round 1, I ought to see alot of progress. But, I'll do the run down when I have the time to sit down and make the list. Lot's of paids and SOL's being dealt with in this round 8) I say to my collectors and CRA's...

Bring it on!!!!!!!!!

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A quick update before I head out to work...I made a settlement offer on one of our judgements, it came back signed and accepted YEAH!!! :)%

I will tell more about this later, including the letter I used, but right now I gotta get to work and I was just so excited about it I had to stop here and tell the board 8)

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A quick update before I head out to work...I made a settlement offer on one of our judgements, it came back signed and accepted YEAH!!! :)%

I will tell more about this later, including the letter I used, but right now I gotta get to work and I was just so excited about it I had to stop here and tell the board 8)

WOOHOO!! Way to get them off! Seems like you may be searching for a new user name change :lol:

We will be anxiously awaiting the details!! :wink:

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Here is the low down....

My letter was this,

Mr. and Mrs. Almost There

123 Here we go Dr.

Happy in Minnesota

567-234-7890

Mr. Nice Guy that Sued Us

Address #1

Address #2

August 25, 2003

RE: Civil Judgment #(Case Number)

Dear Mr. nice Guy,

As you know, you were awarded a judgment against us in 1998. It has been several years now since this judgment took place and we have made little progress in our payments to you. The amount entered and payments thus far total the balance due as follows:

$526.50

- $150.00 Payments

Balance Due:$376.50

We would like to save you the time it will take us to pay this judgment by offering you a settlement. We can afford to pay you $250.00 immediately in exchange for a signed Release and Satisfaction of Judgment form. You are under no obligation to accept this offer. However, you have always seemed, to us, to be a reasonable and generous man. We deeply regret that we ever fell behind with you in the first place, and now we are attempting to purchase our first home and begin adoption proceedings, so we need to take care of all of our outstanding debts as quickly as possible. If you have any questions about this offer, please feel free to contact us. If you will agree to this offer, please sign below and return a copy to us as quickly as possible. Upon receipt of your acceptance, we will mail you a check for $250.00 and ask that you go the Clay County Clerk of Court office and file a “Release and Satisfaction of Judgment” form. Should you not accept our offer, we will do our best to pay you in a timely matter, as our future is riding on this being taken care of. Thank you, Ron, for your time and consideration of our offer. It is most appreciated.

Sincerely,

Mr. and Mrs. Almost There

*************************************************************************************

I accept the offer above for $250.00 to settle in full civil judgment SCCVXXXXX

_________________________________________________________

Sign and Date

I mailed 2 copies of this letter, one for them to sign and return, the other for their records. I even printed "COPY for your records" at the bottom of the copy. I included a self addressed, stamped envelope as well. I figured I wanted to make it as easy as possible for him to accept. I mailed all my CRRR's last Friday, got some green cards back yesterday dated 8/2, and I got the signed acceptance from this guy today, dated 8/3. He even wrote across the bottom "Good luck kids! I hope things are working out for you now!"

This guy was really a very nice man and we did really regret that we ever even owed him money and forced him to sue by ignoring him. I'm glad this one worked and now we'll see how the one with Mr. Evil :twisted: (land lord that sued us twice) goes. We offered him $1000 for his 2 judgements against us. I already have the paperwork from that court house for him to sign if he accepts. It's ready to go. I'm keeping my fingers crossed that it all works out. The quicker those judgements are paid/settled, the better.

By the way, Mr. Evil got a little bit different letter, cordial but not nearly as flattering 8)

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lol, I want to see mr evils letter. Can you tell what the first judgment was for? I just want to say, that was a really good letter. I would be afraid to say things about the home though, incase they would decide make things hard for you cause they know you need this taken care of. Adding in the adoption was a good thought too. I cant wait to hear if the mr evil takes you up on your offer or not.

May I add this to my growing collection of letters?

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Mr. Evil letter...

Mr. and Mrs. Almost There

blah blah blah

blah blah blah

Mr. Evil

666 Path to Hell

Inferno, IA 66666

August 25, 2003

RE: Civil Judgments SCCVXXXX and SCCVXXXX

Mr. Evil,

As you know, you were awarded two civil judgments against us in 1999. It has been several years now since these judgments took place and we have made little progress in our payments to you. The amounts entered and payments thus far total the balance due as follows:

SCCVXXXX...$716.50

- $175.00 Payments

$541.50

SCCVXXXX...$997.92

- $75.00 Payments

$922.92

Balance due: $1464.42

We would like to save you the time it will take us to pay these judgments by offering you a settlement. We can afford to pay you $1000 immediately in exchange for a signed Release and Satisfaction of Judgment form for each case. You are under no obligation to accept this offer. However, given our slow payment history, we’re sure you can see that this offer is the best we’ve offered thus far and it is nearly impossible that we would be able to repeat such an offer for immediate payment in the future. We have, unfortunately, been faced with some medical problems that have been very costly to us. All of our attention has been on that and as a result, regretfully, we haven’t paid you much. We would like to put this matter behind us as quickly as possible.

As proof of our seriousness to pay these debts, we’ve already acquired the paperwork from the Clerk of Court’s office for these judgments to be released. All they need is to be signed and dated by you. We will send you these forms upon your written agreement to our offer. Feel free to contact us, in writing please, with any questions you might have. If you find our offer acceptable, please sign and return a copy of this letter within 14 days of receipt. Upon acceptance of our offer, we will mail you a check for $1000 and the release forms to be signed and mailed back to us for both judgments.

Thank you for your time and consideration of our offer.

Sincerely,

Mr. and Mrs. Almost There

*************************************************************************************

I accept the offer above for $1000 to settle in full civil judgments SCCVXXXX and SCCVXXXX

___________________________________________________________

Sign and Date

I didn't include the mention of a house, because this dude is a jerk enough to hold us up. I did, however, mention our health problems vaguely on the off chance he does have a heart beating in there after all. We have had costly medical problems, but that isn't why we haven't paid him more...we haven't paid him more because he is a complete a$$hole that really doesn't deserve a dime, but unfortunately the judge ruled otherwise xrainx and now it's either pay him or not get a mortgage. We'd rather get the mortgage, so it's time to pay up.

To answer Sis' questions, the first judgement from Mr. nice Guy was because he was a lot owner. DH and I owned a crappy a$$ little trailer at the very beginning of our financial woes. We moved back to our home town, left the trailer behind on his lot and stopped paying our lot rent. Eventually, we let him dispose of the trailer, but we still owed him back lot rent. We just kinda walked away from the whole thing and so he sued. We owed the money, so we just let him get the judgment. I would never do the same thing now, obviously, but we were D-U-M-B at the time. He was always a nice guy though. I had no worries at all about mentioning the house in his letter, he wouldn't be that malicious.

Feel free, Sis, to add this to your collection. I'd be proud to have my handiwork added to the mix.

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I had a couple good surprises today...1) another one of our settlement offers was accepted today. We sent in a "we'll settle if you delete" letter to an old CA and they asked for $50 dollars more, but agreed in writing to delete once we pay. That is one of 2 CA accounts we offered to settle for deletion. Still waiting on the other one. 2) looked at DH's TU report today, Sears, which I disputed in round one, is now a "Satisfactory" account! We settled Sears a couple years ago with a CA and it is scheduled to fall off his report in November, but for some reason, TU has it under the Satisfactory accounts section. DH's report looked so different from last time I saw it, now with the deletions he had in Round 1. It was really cool.

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Actually Sis, I still want the house. We're hoping to get everything in line to get a better loan rate. I am talking to another banker tomorrow night at home buyer's class, cleverly titled Home Stretch class x:-) I plan on bringing in all I've got to show that we are making progress, including our accepted settlements and also my own credit reports highlighted to show all that is mistaken, in dispute, or otherwise on it's way out.

If we can get the seller to fix the septic and pay closing costs, we'll be good to go. Keepin' my fingers crossed that it works out.

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Thanks DC, I just got word today on 2 DV's that one is being deleted and I will no longer receive collection attempts for Fingerhut 8) Woohooo! and for an old CC I got a letter from the OC saying they can't find my account and please send further information. It is also past SOL, so I should be good to go with that one, too.

Plus, I saw the acupuncturist today for the first time, so I am feeling good about the directions in which I am going. I have Home Stretch class tonight and I can't wait to talk to the banker. Will keep you all posted.

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Home class update: More questions tonight from the other students. One lady had a bunch of old R1's on her report and wanted to know how to get them off, I was like "hold on to those, girl!" She had no clue, but I explained that they were a good thing. Hopefully, she will heed my advice.

The banker said that we are looking good as far as our progress is going. Keeping it up I am hoping for a good rate around the first part of October. Our income and ratios have us looking at a qualification of $154,000 (if we can get VA's 6% interest rate) as opposed to $130,000 at the 8.375% the broker was going to deal us.

I had a list that the broker gave us to show her tonight. To the right of everything on the list, I had a notation of "SOL" "Settle" or "Duplicate Listing" whatever the case might be on how we're dealing with all those accounts standing in our way to owning a home. Get this! She had never heard of SOL. I explained the entire thing to her. She was dumbfounded, and seemed a bit skeptical, she said in 20 plus years of doing mortgage loans, she had never seen anyone come in with that situation. She also tried telling me that all adverse items are reported for 10 years. I had to correct her.

We also heard from a credit counselor tonight, I felt his presentation left much to be desired. He didn't even bother to mention opting out, but instead encouraged everyone to jump on credit cards with low rates, pay off higher interest cards, and close them. One thing he said blew my mind: "if your credit is shot, what's the damage in lowering your score even further with inquiries or whatever. For some people it's hopeless." I wanted to jump up and say, "but not if you know what you're doing!" A lady asked then if checking your own scores hurts you, he didn't know. So I answered that one and then during the break, I showed her a copy of my own EQ Inquiry section that clearly explains hard and soft inquiries.

Here is what I have really learned about credit repair, and things in general now that I think about it. Bankers, realtors, creditors, CRA's, CA's, not even Clerks of Courts and lawyers! know all there is to know about credit and consumer rights. It's sad, but it makes looking out for #1 that much more important. I'm glad I've learned enough to watch out for my interests when no one else will or even knows how to.

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Real quick I wanted to add this info. about the items standing in our way to a home and the progress I've had so far with them.

Fed. Credit Corp $293 - Paid to another CA and WAY past SOL - Currently being nutcased

United Accounts $131 - SOL - Currently in DV

Professional Systems $403 - Settlement offer accepted, agreement to delete is in writing

GMAC $6002 - SOL and a duplicate listing thanks to transposed numbers - soon to be disputed as Not Mine

GMAC $6401 - SOL and due to be gone in about 2 months - ditto

GMAC $6002 - SOL and also a duplicate - ditto

Berks Credit & Coll. $297 - Paid to another CA (It's the same debt as Federal Credit Corp.) Also, WAY past SOL - and also being nutcased

FNB of Brookings $479 - SOL - Used the OCDV approach, they can't find the account and would like more info.

RJM Acquistions $187 - SOL - CA unable to DV and will delete

Fed. Credit Corp. $293 - Same as the first one listed

IC Systems $94 - offered to settle with deletion, waiting to hear their answer

3 judgements - settlement offers have been made on all three, I owe $1800ish combined, offered $1250 - One offer has been accepted

SLFC past due $215

SLFC past due $209, BS and the good standing letter that is on it's way can hopefully prove it :wink:

This is the same list I got from the mortgage broker and the same list I showed to the banker tonight, with the same notations basically and everything.

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That is incredible progress. The best I have ever seen until now was a client that started with a 493 in April 2 years ago, and in October of that year was at a 580.

You are at the point now where you can get some kind of loan from a lender, about 90% LTV, if your rental payments have been on time. One of them has a 5% down/5% purchase money second or gift/90% LTV loan.

Keep up the good work.

Oh, on your other question on the mortgage board, GFE is the paper that shows the costs of getting a loan from a lender/broker. Have your Loan officer (LO) go over it with you when you get one. Ask lots of dumb questions, and you will be ok.

Charles

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Almost_There:

You will find in the credit industry, there are many people going right along that are uneducated to the credit reporting side.. or some that only know bits and peices of how their actions affect consumers. It is really sad, and it makes me so mad that I can't educate everyone everywhere. I feel that the FTC has left a major gap here not requiring better steps to educate on this part - both consumers and creditors. It is so important, why they don't teach this stuff in school!!!

Our credit bureau here, being local holds meetings a few times a year, where we extend ask for companies to send employees so we can address the Fair Credit Reporting Act and other issues involving their various industries... but the businesses neglect this offer quite a bit. And many of them, usually call in when they finally get stuck on a problem, I have also mailed out education material to various businesses, but I don't always know if I sent it to the right person.. you know that is going to spread the word amoung the others.

Just so hard to push this - to figure out how to accomplish what is lacking today. And just continues to hurt everyone.

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Almost, you should have spoke up and informed the rest of the class just what inqs do to your score, and just what bs this guy was handing out to the class. Keep up the good work, you are not far from being in the official "700 Club" bet your there by spring time.

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Well, after waiting for what seemed like an eternity, we finally got word from Mr. Evil...we still owe him

SCCVXXXX...$716.50

- $175.00 Payments

$541.50

SCCVXXXX...$997.92

- $75.00 Payments

$922.92

Balance due: $1464.42

We offered him a $1000. Now, keep in mind, I was ignoring the interest on this, so we actually owe him more than $1464.42. His response was very civil (surprisingly). He reminded me about the interest and said that if you add that he estimates we still owe $2500 and he'll settle for $1500! What a joke! I say that because for about $800 of that second judgment, we had NO ELECTRICITY on the farm we were renting from him. I supposed if he demands $1500, we'll have to pay it and be done with it, but he said if I wanted to discuss it please call him. He also said he was willing to help us get this cleared up so we can do whatever it is we need to do, which he suspected was buy a house, get a job, or a new car or truck (he wrote that in his letter to us). So now I need help figuring out how much I actually owe this man, with interest, because I SUCK at math. Can someone help me out here because I'll pay $1500 if I have to, but if that isn't a good deal, I am going to try and negotiate as much as time will allow. I am in a hurry after all, trying to buy a house. I have $1000 put away, but I could get the rest if I have to.

Here is the math stuff...

Case #1

Amount entered...$665.00 + costs totaling $716.50 with 6.918% interest from 6/15/99

We paid $175.00 so far (if exact dates are needed to figure this out, let me know and I'll dig them out)

Case #2

Amount entered...$$951.42 + costs totaling $997.92 with 7.670% interest from 12/10/99.

We paid only $75 on this one. I am not sure if we pay interest on the court fees too or not.

Thanks in advance for anyone who can help me figure out this interest.

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