Judgments need paid before close on mortgage

Mar 022011
 

I received my pre-approval on a home and have 2 outstanding judgments that need to be paid.

 

My questions are. 

 

Is there a process I should be following when contacting the companies/ law offices that took the judgment out on me?

 

 Is there a process that I should follow to negotiate with them?

 

Would the process differ since I am going to be getting a home and would not pay the debt until the closing of the home? Or do I pay it prior to closing.

 

Right now I have about $3000 that I can use to pay the judgment. Both judgment are for approximately $3500 a piece.

 

Can I get these deleted or vacated in the state of Iowa if the judgments were from about 5 years ago?

 

Anyone’s help would be greatly appreciated!

 

Thanks!

Original Creditors – Verification requests.

Feb 192011
 

I have 4 original creditors that charged-off accounts back in 2008.

2 accounts are HBSC and I have no recollection of exactly what they were. The other 2 accounts had excessive fees and the balances were 2 to 3 times as high as the original credit balance.  I disputed through the CRA but they were verified. However I never received any details.

 

I am contemplating directly requesting verification from these 4 companies. 2 of the companies list the balance at 0.

 

Is there a chance through verification that these companies could then raise the balances? I believe that would hurt my score.

If an account is charged off should the blance be 0 by law?

Is it worth it to ask for verification?

 

Also, could this requesting verification lead these companies to activate new CAs?

My Credit Cleanup – Solid history but some older lates, advice welcome!

Jan 152011
 

 

I want to try to GW a lot of these old lates I have. Some are from co-signers I made, some are from a discrepancy on my student loan payment ($17 under I think?). With the knowledge of individual creditors, I’d like to get some feedback on the best way to tackle these:

 

BOA LOC – This was a loan I co-signed on. It was closed by BOA some time ago. They didn’t contact me until it was 60 days late, and thats when I paid it up. So I got hosed in that deal.

 

Apr, 2008
Aug, 2003
Apr, 2007
Line of Credit
$2,000
$2,127
30 days: 2 times(May 2005, Dec 2004)
60 days: 1 time(Jun 2005)

 

AES – Edu loan – I had two loans, set a day apart. I usually made one payment for both. All the paperwork would come in a day apart, so it was easy to get disoriented. I think I underpaid my bulk payment by a small about, $17 or so. So I ended up with a small amount going over 30 days. Of course, it hits both accounts and tanked my score at the time, I was buying a car. These people are irritating –  they are the one lender I find enjoyment in making them wait for their payment! Thankfully one of my loans were sold to WF – I like them much better.

 

Dec, 2010
Aug, 2003
Dec, 2010
XXXXXXXXXXXXX0001
Student Loan
$11,861

 

30 days: 1 time(Feb 2007)

 

AES #2

 

Sep, 2010
Aug, 2004
Aug, 2010
Sep, 2010
XXXXXXXXXXXXX0002
Student Loan
$14,000
Installment Account
Primary Borrower on Account
Education / Employment

 

30 days: 1 time(Feb 2007)

 

VW Credit – I moved and documented my change of address – it took them a couple months to figure it out. Of course, I got the bad marks in the meantime. 

 

Apr, 2007
May, 2003
Apr, 2007
Apr, 2007
XXXXX7837
Auto Lease
$17,174
Installment Account
Individual Account
Finance / Personal
30 days: 3 times(May 2005, Dec 2004, Sep 2004)
Those are on my TU report. I have more which are only reporting to EQ:
Wells Fargo Student Loan - There are three of these accounts. They are a combined Stafford Loan payment. I moved back from college that summer and misplaced the bill. The following month I paid it up and have been on automatic payments ever since. Such a piddly payment amount, but I have 3 accounts reporting a late from it.
Dec, 2010
Oct, 2001
Dec, 2010
XXXXXXXXXXXX0003
$1,417
Installment
Individual
All Banks

30 days: 1 time(Jul 2006)
The last thing I have is a junk collection dating back to July 2004. Its set to fall off this year from all CRAs. However, I have a lot of credit goals and uses for this year, and I want to offer to PFD on this account to see if they will take it. Worse case, it will be gone in 6 months.
Federal Credit Corp – EQ reports as an open account 120+ past due, TU and EX as a collection. Shown below is EQ.
Dec, 2010
Jun, 2010
Jul, 2004
$237
Open Account
Individual
Factoring Companies
My EQ FICO is 667. It says my two highest factors hurting my score are “Serious Delinquency” and “Bad Payment History”. Basically, everything I listed above. Good factors is the 4 years since a late – and 18 accounts in good standing.
My TU FICO is 655. My two highest factors hurting my score are “Collection” and “Recent Collection”. TU shows it as placed in 6/10, and due for removal  6/11.
AAoA is 6-7 years (depending on CRA)
Oldest account is 10.5 years
Overall Util is around 48%
I want to have a story to share on the forums like others I read all the time. I feel like my history is solid, I have enough credit and types of credit to have strong scores, just have to get rid of some of these lates , most of which are 3x insulting because it was combined student loans. 
Your advice is appreciated! 

Re. Spike in gas.

Dec 302010
 

The monopoly by the world leaders can raise or lower the  price of oil. When, ever the want . Some of our leaders support this by not allowing or wanting us to develop our resources. We have more oil in reserve, then oil countries around the world. If our oil companies hands are untied that they would go after our oil . The monopoly will drop their prices the day that our companies are given the support from our government. to compete they must have A break even point, a fair  price for oil. If the monopoly cut their prices under our companies  needs. We should put a tariff on their product . CHINA ,INDIA AND  RUSSIA  are buying up oil reserve around the world. THEIR GOVERNMENT OUR BEATING OURS, IN THE ABLITY TO COMPLETE . WE IN THE UNITED STATES ARE LETTING THE ARAB MONOPOLY SUCK OUR WEALTH . It causes our country problems to complete in all production of  our products. In China they will not have 5 dollars a gallon gas . They have learn their lessen well .

DRILL AND CREATE THOUSANDS OF AMERICAN JOBS.  DRILL AND KEEP OUR MONEY HERE 

Where to begin…? HELP!

Dec 202010
 

Hello Everyone!

 

I need a little help.  I filed BK in 10/10 – now I would like to try to get some of the accounts deleted.  I want to PFD and GW them and see if the companies will cooperate.  

 

One question I have – if both the CA and the OC are reporting – who should I go to first to ask for the deletion/PFD?  If one agrees to delete  -what do I do with the other one?

 

Thanks!  

 

 

Which real estate companies are best for new agents?

Dec 162010
 

I’m planning on getting my real estate agents license in the next few weeks. I’ve heard that Century 21 and some other companies have their own courses. Is it better to attend their course or just a regular local real estate school. Also what companies are good for new agents.

Any advice you can give is appreciated! Thanks!

Oh and I’ll be getting my license in Tenessee.

Paying off accounts resulted in closed accounts

Dec 082010
 

Maybe someone can help me understand this.  I had several accounts with CL ranging from $1000 to $4000.  In an attempt to improve my credit, I diligently paid these accounts off.   However, nearly immediately upon payoff of each account, they either lowered my credit limit to only a few hundred dollars or closed the account completely.  So instead of this lowering my credit ratio, it made it look worse.  It left me with only a couple open accounts, all of which have very low CL.  I am working now at paying those off.  This all happened about a year ago.  Some of the companies I spoke with claimed they do periodic credit pulls and something on my credit must have warranted it.  However, there was nothing there negative other high util %.  So it made no sense.  My credit score was about 600 at the time.  Not fantastic, but was low due to the util ratio, which obviously is why I was paying down the cards.  They would not reopen the accounts but invited me to reapply.  I declined at the time because A) they don’t deserve my business and B) I didn’t want it to hurt my credit further by showing up as a new account.   My score has increased now.  It should be around 700 soon.  Should I apply for another credit card and not use it to improve my util %?  Does anyone have any earthly idea why this happened?  Thanks for all the advice so far tonight.  I’ve had many questions lingering for a long time, just waiting for somewhere to ask them :)

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