Jump to content

Newbie in your midst!


elyse449
 Share

Recommended Posts

Hi to all!

My name is "Elyse" and I am just entering upon the world of credit "repair." I could launch into my sad story, but I'll try to just sum it up so as to NOT hurt anyones eyeballs :shock:

My husband and I have had various credit pitfalls.

For my husband it was a vindictive ex wife that charged up credit cards, stole checks, stole an entire months pay (he was Army and it was automatically placed into acct while he was in the field) and than took him to court for custody of their two boys--we were together at this time and he had to get out of the army due to some serious health conditions (couldn't exactly pay debt while trying to keep the boys either though).

He ended up having his home foreclosed on, but for some reason the 2nd mortgage is still on his credit report. He suffered a car repo--they sold it for a tiny percentage of it's worth and he now owes 9, 900-they recently called claiming to want to work out some kind of agreeement, but we're leary so we asked for it in writing (have yet to hear from them, but it's barely been over a week). His younger son has some mental health conditions so some of the bills are medical debt.

As for me-well I had various bills go to collections after a lay off (about the time of the custody dispute). I also had a car repo'd (they aren't trying a bit to collect oddly enough unlike my husbands situation) and I to lost my home in a foreclosure.

Any advice on requesting validation or whatnot will be greatly appreciated by the way.

My husband has a decent paying job, but we're a family of soon-to-be 8 and so budgeting has become a large focus in our home. Neither of us were taught as younger folks how to budget, so it's all been "new" for us. Not that we're huge spenders/credit card owners--but we've definately made some bad financial decisions!

We've been sending in payments for various bills and so far, so good. They're all accepting the payments--or at least none have been returned (money orders ONLY)

This car repo thing seems to be one that may get sticky. We're worried about a garnishment, but I found out that they can only take a certain percentage of your weekly pay anyway--but my husband is worried he'll lose his job if they put a garnishment on him. The other issue is old debt that still may be on our credit--so we're getting ready to order our credit reports and begin the whole dispute/validate process (argh!). My husbands house was backed by VA and we suspect the home was sold at an amount that at least covered the loan (but admittedly, we need to investigate that because he MAY be able to get his VA cert back one day)

Anyway--that's our overall story. Just looking to get educated and wanting to learn how to be on the offense. We realized that we let a lot of things slide (should've called the police re: stolen checks for example!) and weren't dilligent w/ our credit reports/dealings with CA's, etc.

I look forward to getting to know everyone. My computer is old, but I'll get over here as much as I can. I am a full time student and mother of soon-to-be six (4 are f/t school), but I'm sure I can be here at least twice a week. This is something I know we need to do, so like parenting/studying it will be worked in. I just wanted to explain that in case someone responds and doesn't hear from me straight away.

This looks like a really nice place! :)

Elyse

Link to comment
Share on other sites

When were the cars repo'd? What state are you in? You need to first check to see if the SOL has expired on those. Depending upon your situation, it may be advisable to consult a BK atty and the re-build from there.

If the SOL has expired, I would send the CA a C&D and tell them to kiss-off!

Link to comment
Share on other sites

Hi there~

My repo'd car was financed via "Ford Motor" and was repo'd 5 yrs ago this August. The SOL is 6 yrs in my state (Wa) so I have one more year to go, I haven't heard from them in years. My husbands car was repo'd last year and was financed via a company called, Triad and they've been bugging us about it since day one for the most part.

The issue I guess I have is that they refused to return our things to us from our vehicles. They purposefully took the car (both, guess the "holding station" is there) to Spokane which is over mountains and about 3 hrs away...like we can get there with no car, right? Also, they obviously purposefully auction it and sell it at a miniscule price. I realize that I can't change what simply is unless I start some campaign for law reform on repossession (hey, not a bad idea!) but it still feels good to get my opinion off my chest. I just can't imagine the smarts behind taking a car from someone unable to make their payments and then expecting to get your money--where's our car? Will we have ANYTHING to show for the 9,900 we'll be paying? That's the sick part and the part that makes me want to file a BK.

The truth is we've barely had time to recover from all the issues that happened with the custody stuff and my husbands ex wife. (Sorry if I sound like I'm whining) My husband was working for a company that a union was attempting to unionize and because his employer knew he supported that he got his hours cut. He went a few months w/ no work--it was really hard and yes, we won a small lawsuit against this company--but only backpay and relieving my husband of any education money debt they were claiming he owed.

It was stupid to buy the darn car in the first place (especially that 2nd one later on!). Either way, we'll see what happens.

You may be right-we may be better off filing a BK, but I wanted to look at our credit reports first. My husbands repo'd home was OVER 6 yrs ago and actually was in 1997 so this is the last year it'll reflect on his credit report--than again, we need to get dilligent about making sure that's the case. Thanks for your replies. As soon as those SOL's start coming in I will be MORE THAN HAPPY :lol: to send them C&D letters!! WOO-HOO!!

E~

P.S. As of mail yesterday we still haven't rec'd a letter from Triad re: any settlement offers. I hope they aren't going to try to say my husband agreed to pay over the phone! I wasn't home when the call came in, but he said he requested the offer in writing.

Link to comment
Share on other sites

Hi Bella,

Yep-you read that correctly! When my dh and I got together he had two sons and I had two daughters and then we had little David in Nov of 2001-now we're having a second son (99% chance) around June 22nd 2004! Thanks for the great welcome, I sure love it here...it's nice to know a person isn't "alone" in their debt dealings!

E~

Link to comment
Share on other sites

Hi Bella,

Yep-you read that correctly! When my dh and I got together he had two sons and I had two daughters and then we had little David in Nov of 2001-now we're having a second son (99% chance) around June 22nd 2004! Thanks for the great welcome, I sure love it here...it's nice to know a person isn't "alone" in their debt dealings!

E~

Our second son was born in Nov. of 2001, and our daughter was just born 3/31/04! :D

Before I found this board at the end of January, I was going to claim bankruptcy. I am sooo glad I did not! :!:

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.