Jump to content

Thank you Guys!


Recommended Posts

Last year an OC sued my wife, I then learned how to defend in court, and even though my wife settled the account it was on really favorable terms, 50 bucks a month for 12 months and dismissal with prejudice, I then went above and beyond and started educating myself on FDCPA, FCRA and TCPA, among others laws. most reading where done on this forum, and also I received help from Coltfun, BV08 gunny, seadragon, legaleagle and others that my memory might not remember now, anyways from receiving maybe 30-50 calls a weeks I'm down to 0, in fact I now collect from debt collectors rather than the other way around. I comfortably sleep every night and will crush this clown in court anytime, and sue them if they give me a violation. My credit score went from feb 2012 from 540, to now 650, after I deleted some collections. Sunday I finally decided to move from Crap1 to a better lender and I got approved by Barclay on a 1%-2% cashback cc with a 1300 CL, my crap1 card is just 500, on top of that I after the Barclay application I did an GEmoney bank amazon store card and bang 600 CL, as I do not carry a balance I'll be canceling my crap1 as soon as my statement shows up. Anyways THANK GUYS your knowledge has put me in a much better situation to buy a house by 2016-17 when all baddies are out, and can get a decent rate mortgage!

 

1 million times THANKS!

 

Forgive me if I'm not so active now in the Forum to share what I've learned but from time to time I show up, and do my share.

  • Like 2
Link to comment
Share on other sites

Why would you cancel it? Your score is based on a credit-to-debt ratio. Canceling it can actually have the opposite effect that you want in this case. Why not just shred that plastic and forget about it? I mean, it seems your score is important to you but if I read into that wrong I apologize.

Link to comment
Share on other sites

I got an internal house rule between my wife and me, you can only have 1 cc, I prefer to have so so credit than owing money, I guess I could socket draw it, but that ain't for me. What they look for a mortgage from what I read is 3 credit lines and at least 2 years of credit history since I plan on doing it by 2016/17 this crap1 cc is not needed.

Link to comment
Share on other sites

I would keep the card active and just not use it much, maybe a tank of gas every month and pay it in full every month. If you cancel it you will not have the active trade line and your score could go down.

 

And by the way, I am glad I could help out.

Link to comment
Share on other sites

Last year an OC sued my wife, I then learned how to defend in court, and even though my wife settled the account it was on really favorable terms, 50 bucks a month for 12 months and dismissal with prejudice, I then went above and beyond and started educating myself on FDCPA, FCRA and TCPA, among others laws. most reading where done on this forum, and also I received help from Coltfun, BV08 gunny, seadragon, legaleagle and others that my memory might not remember now, anyways from receiving maybe 30-50 calls a weeks I'm down to 0, in fact I now collect from debt collectors rather than the other way around. I comfortably sleep every night and will crush this clown in court anytime, and sue them if they give me a violation. My credit score went from feb 2012 from 540, to now 650, after I deleted some collections. Sunday I finally decided to move from Crap1 to a better lender and I got approved by Barclay on a 1%-2% cashback cc with a 1300 CL, my crap1 card is just 500, on top of that I after the Barclay application I did an GEmoney bank amazon store card and bang 600 CL, as I do not carry a balance I'll be canceling my crap1 as soon as my statement shows up. Anyways THANK GUYS your knowledge has put me in a much better situation to buy a house by 2016-17 when all baddies are out, and can get a decent rate mortgage!

 

1 million times THANKS!

 

Forgive me if I'm not so active now in the Forum to share what I've learned but from time to time I show up, and do my share.

If you are only waiting on your credit report to buy a house you are probably a lot closer than you think.  With a 650 score, if that is your median score, you could probably get and FHA mortgage with a low down payment and low interest rate fairly easily.  You may have to settle what outstanding charge off's you have left or get them to show a $0 balance on all 3 credit reports before the bank will approve, but with your score you should be a able to get some fairly attractive terms with an FHA loan.

Link to comment
Share on other sites

I got a charge off for around 4k outside SOL that will drop on jan 2016, I rather save that money for then than pay off something I don't need so I'll wait and save that for the down payment, maybe if another debt collector keeps giving me cash I might think about it, but chances are I will either save it or spend it somewhere else ...

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.