ItsMe123 Posted September 19, 2004 Report Share Posted September 19, 2004 First of all let me send my kudos to all of you. I am so glad to have stumbled on this site and look forward to sending my clients to it also. I was hoping some could help with the following. (crazy although I have credit issues my own I first hope you could supply some advice for a client)Here's what I know per one of the investors I work with----gals buys a car (have to say I am trying to recall conversation with investor. I am quite sure it is a old car repo, not sure if seven years have passed since either purchase or first deliquency. I thought I would find some advice for her prior to my credit pull as several others have pulled her credit already knowing of this and then turn her down for a mortgage) I really don't want to pull and cost her another inquiry until I have a good direction of things that may help her. Anyway the collection is now old and is 13K. You know bogus fees, bogus interest and such---terrible over-inflation of the orginal contract. I can only hope they atleast deducted their gain of the repo sale, yeah right. She was paying on the collection but stopped two years ago. All others (LO's so they can close in 2 months and "Book the loan") are telling to re-instate a payment agreement but I am thinking that the SOL has to be expired or very close and would hate to see her pay all the inflated crap when she doesn't have to. She was paying on this account for quite awhile and they have definitely received what anyone would agree to as fair. How can I help this gal clear this up???? I guess this angers me as I see first the creditor totally exploiting her and some of my colleagues in my industry encouraging her to cave in to it so she can purchase and they can thus close the loan. I, however, am busy enough and I value my investor's business so I want to do the right thing and be patient so it is resolved the best for my client. I wish I could supply a better idea on dates/terms but like I said I wanted to look/think alittle before pulling credit, however if absolutely necessary I can just do have her arrange a soft pull for a better idea. And again I am so happy to see this site. About time consumers can get some REAL inof rather than what Mr. Collector tells them. Hats Off Link to comment Share on other sites More sharing options...
user33658 Posted September 19, 2004 Report Share Posted September 19, 2004 Link to comment Share on other sites More sharing options...
pjwife27 Posted September 20, 2004 Report Share Posted September 20, 2004 Sorry, not much help, but I can offer a thread that might help you sort it all out. Good Luck!http://www.creditboards.com/phpBB2/viewtopic.php?t=28194 Link to comment Share on other sites More sharing options...
retmar Posted September 23, 2004 Report Share Posted September 23, 2004 Ask her to get a copy of the previous pull and give to you. All she needs to do is contact the last one who pulled and ask for it as she needs to see the information being reported so she can get this resolved and continue her pursuit for a loan. Don't mention she came to you. When you get it, note the info and post it here. Include dates only, no personals, such as amounts, names, etc. Be sure to include any papers she received from the repo, such as date of sale, etc. Once you have it here, the pros can dig through it and see what they can do. There are some who know all the ins and outs of repo's. BTW, thanks for thinking of the consumer before the $. Link to comment Share on other sites More sharing options...
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