individual » Mortgage and Insurance

Settling for less than full, how will it effect me? A bit different scenario here….

Jan 312011

Settling for less than full, how will it effect me? A bit different scenario here….

Well, basically in a nutshell, I took out a loan for a significant other that was promised to be repaid.

Things go south about a year later and she stops paying. I have a signed promissory note and there is now a judgement against this individual for the amount owed.Â

Details;

$10K loan, 27% interest.Â

(Yes, stupid I know, had an emergency, I came through, she made good money, but decided b/c the relationship was over, so was the whole taking care of her financial responsibilities issue)

I have been making payments on this loan for over 3 years now. At first, I paid the full amount every month for about 6 months. This became too much for me to handle, and they adjusted my payments to half, which all basically went to the interest.Â

I can no longer keep up with payments as I am working part time (I made all payments previously even while on unemployment), and I refuse to continue putting out money towards a debt that I feel is not mine and that could be going to keep a roof over my head and food in my mouth.Â

Here is where it differs from the other posts I have seen on here.

I have a 729 (give or take) credit score with no past due accounts, no delinquencies, nothing negative to report at all.Â

I contacted Citifinancial about doing a lump sum payment aka settling the loan right now. I offered them 5K to do so. They came back at 6300, and sent info to main office to try to lower this.Â

I would like to settle this loan and be out from under it, NOW.

But I am now seeing that if they report it as “settled for less than full amount” that it will ding my credit pretty badly. I am wondering if anyone knows what kind of damage this will do?

I currently have 5-6 open credit cards with only 3 having small balances adding up to maybe $2500. I also have a small school loan I am still paying off, and the only other debt I have is my mortgage.Â

I am not planning on needing any other credit, new mortgage, etc for quite some time, so if it will ding my score to something that I can make up in 6 months or so, I am just going to take the hit.Â

And I am also trying to do a loan modification on my mortgage, so I am wondering if this possible settlement will effect that.Â

Sorry for the rambling, but I am just mentally tired of worrying every month where this money will come from to pay ONLY the interest for the month.Â

I could more than likely pay the full amount, but with the cash crisis I am in right now in terms of paying my bills, the extra $2K plus in my pocket by not paying in full is quite attractive.Â

Any help would be greatly appreciated.Â

Thanks

January 31, 2011
Posted by admin at 2:51 am
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Rebuilding Credit
citifinancial, credit, Credit Score, financial, individual, Loan, money, mortgage, paid-the-full, relationship, will-it-effect

Affects of student loans on future credit

Jan 302011

I wanted to share some new information in regards to individuals that are applying for or already have student loans. The problem is not be able to get the student loans. The issue is the future creditors when you want to get more credit. I had actually talked to one of the financial institutions and this is what they had told me. There are a few factors that are being considered. First, a college degree does not guarantee the job or career. Second, the default rate per year on student loans is approaching 250,000. Even though the student loans are deferred the individual is still in debt which would be at a 100 percent debt to income ratio. They have to treat those deferred loans just the same as someone who has a high to debt income ratio. Therefore any applications for auto loans, mortgages, personal loans, & credit cards will be denied until a sizeable chunk of the original balance is paid down. On deferred loans the interest is added to the balance. The only way that someone with an existing loan can possibly get other credit is to have a parent or other qualified applicant as a cosigner. This basically means that the cosigner has to have a good credit report & score as well as keeping within their own debt to income ratio. The creditors or lenders are not going to put themselves or you in a more riskier situation. I know that you will find this interesting. Please be aware that student loans can not be included or discharged in bankruptcy.

January 30, 2011
Posted by jedwan at 3:55 pm
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Student Loans
deferred-loans, individual, interesting, qualified, student, Student Loans, the-individual, year-on-student

Need help on how to act on this (Cortrust Bank)

Dec 102010

Cortrust Bank #************

Balance: $0
Date Verified” 06/2009
High Balance: $418
Collateral: SLDTO ARROW FINANCIAL 18002790224
Credit Limit: $250
Past Due: $0
Pay Status: >Payment After ChargeOff/Collection<
Account Type: Revolving Account
Responsibility: Individual Account
Date Opened: 04/2006
Date Closed: 11/2006
Loan Type: Credit Card
Remark: Purchased by another lender
Estimated date that this item will be remove: 07/2013

cortrust credit card reviews

December 10, 2010
Posted by admin at 6:23 pm
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account-type, balance, closed, cortrust-bank, credit, Credit Card, credit-limit, individual, purchased

LOW-LOAD MUTUAL FUNDS Individual Investor’s guide

Nov 282010

Mutual Funds eBay auctions you should keep an eye on:

Group of brochures,ads on new 1953 IRA Act,Mutual funds

US $3.95
End Date: Saturday Feb-11-2012 4:15:03 PST
Buy It Now for only: US $3.95
Buy it now | Add to watch list

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US $4.99
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Buy it now | Add to watch list

November 28, 2010
Posted by jedwan at 7:46 am
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Mutual Funds
funds, guide, individual, investors, LOWLOAD, Mutual

Rebuilding my credit – One bad at a time

Sep 222010

Hello all, I just want to say what an unbelieveable amount of informaition there is in this forum and how it inspired me to FINALLY tackle my credit issues. I felt like I was on my own against multiple CAs with no help available, then I found this community. =)

So far, before I knew of the help and information here, I paid a collection in full to Porfolio Recovery. Wrong move since i didnt send a PFD letter.. Anyway, I wanted to post the bads on my report and see if anyone could help with contact information or just any general guidance.

PORTFOLIO RECOVERY ASSOCIATES

Status as of:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Aug, 2010Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Balance:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $798

Date opened:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Feb, 2008Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Current status:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 120+ days past due

Date of last activity:Â Â Â Â Â Â Â Aug, 2007 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Past due amount:Â Â Â Â Â Â Â Â Â Â Â $798

Largest past balance:Â Â Â Â Â $869

Account type:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Open Account

Account holder:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Individual

Descriptions:

Collection account

Actions:

Paid full balance on 9/17/10 and received a letter stating the company will report this account as â€œPaidâ€ to the three major credit reporting agencies.

Sent GW letter via email 9/21/10 and received a response same day stating “it in not the business practice or PRA to remove or delete credit information in exchange for payment”

CREDIT ONE BANK

Status as of:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Aug, 2010Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Balance:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $269

Date opened:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Dec, 2008Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Current status:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Pays account as agreed

Date of last activity:Â Â Â Â Â Â Â Aug, 2010 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Past due amount:Â Â Â Â Â Â Â Â Â Â Â Not Reported

Credit Limit:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $200Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Largest past balance:Â Â Â Â Â Not ReportedÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Seven year payment history

Account type:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â RevolvingÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 30 days late:Â Â Â Â Â Â 2 times (Apr 2010, Dec 2009)

Account holder:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â IndividualÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 60 days late:Â Â Â Â Â Â 1 time (Jan 2010)

Scheduled payment:Â Â Â Â Â $25Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 90+ days late:Â Â Â 0 times

Descriptions:

Credit Card

Actions:

Paid account on time since May 2010. Current balance is $48

CITI CARD

Status as of:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Nov, 2009Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Balance:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $0

Date opened:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Feb, 2004Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Current status:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Bad debt/collection

Date of last activity:Â Â Â Â Â Â Â Jul, 2005 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Past due amount:Â Â Â Â Â Â Â Â Â Â Â Not ReportedÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Largest past balance:Â Â Â Â Â $330Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Account type:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Revolving Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Seven year payment history

Account holder:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â IndividualÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 30 days late:Â Â Â Â Â Â 0 times

Scheduled payment:Â Â Â Â Â $0Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 60 days late:Â Â Â Â Â Â 3 times

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 90+ days late:Â Â Â 3 times (Apr 2006, Mar 2006, Feb 2006)

Descriptions:

Paid charge off

Actions:

I donâ€™t remember what actions were taken on this account

BANK OF AMERICA

Status as of:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Feb, 2008Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Balance:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $0

Date opened:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Mar, 2004Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Current status:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Bad debt/collection

Date of last activity:Â Â Â Â Â Â Â Aug, 2007Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Past due amount:Â Â Â Â Â Â Â Â Â Â Â Not ReportedÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Largest past balance:Â Â Â Â Â $869Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Account type:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Revolving Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Seven year payment history

Account holder:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â IndividualÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 30 days late:Â Â Â Â Â Â 8 times (Sep 2007, Jun 2007, Dec Scheduled payment:Â Â Â Â Â Â Â Â Â Â Â $0Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2006,Aug 2006, Jul 2006, May 2006,

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Mar 2006) Â Â Â Â Â Â Â Â Â Â

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 60 days late:Â Â Â Â Â Â 5 times (Oct 2007, Feb 2007, Jan 2007,

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Apr 2006)

90+ days late:Â Â Â 6 times (Jan 2008, Dec 2007, Nov 2007, Mar 2007)

Descriptions:

Account transferred or sold

Charged off account

Actions:

This account was sold to CA PORTFOLIO RECOVERY ASSOCIATES

CA Paid as of Aug 2010

Sorry for the long post, but I wanted to include all of the information I have.

EQ FICO 527

September 22, 2010
Posted by admin at 2:14 pm
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Rebuilding Credit
account, account-on-time, balance, business, credit-limit, Current, days-late, individual, last-activity, past-balance, practice-or-pra, reported, revolving, the-information, year-payment

When can I expect this to fall off my credit report?

Aug 192010

Not sure from what date it will fall off… Don’t laugh. I was young and stupid.

Status as of [?] Dec, 2008
Date opened [?] Oct, 2006
Date of last activity [?] Not Reported
Date paid out [?] Not Reported
Date closed [?] Jun, 2007
Account number [?] XXXXXXXXXXXXXXXXX
Loan type [?] Charge Account
Credit limit [?] $100
Largest past balance [?] $272
Terms [?] Not Reported
Account Type [?] Revolving Account
Account holder [?] Individual Account
Scheduled payment amount [?] Not Reported

August 19, 2010
Posted by jedwan at 11:10 pm
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Rebuilding Credit
account-type, charge, charge-account, individual, last-activity, paid-out, past-balance, reported, revolving, revolving-account

Asset Acceptance Responce to Attorny General

Jul 302010

Ok I have 2 chargeoffs from a Express card and a citi Student card I wrote the AG listing all the FDCPA & FCRA violations that AAC was reporting this is what they sent back to him and he just sent it to me.

Please note that AACLLC is the purchaser of the accounts in question. Accordingly, AALLC is providing the account type code indicating that AALLC is a debt purchaser. Further, AALLC’s trade lines are listed as open trade line. These are the appropriate codes for such accounts in accordance with the credit reporting guidelines. It is not appropriate for AALLC to indicate that they are collection agency accounts, as AALLC has purchased the accounts and therefore not collecting the accounts on behalf of any other individual or enttity. Further, AALLC is providing information indicating the account the accounts are delinquent and is not providing information indicating the accounts are not in default. AALLC cannot conclude, based on the information provided, that AALLC is providing inaccurate information to the consumer reporting agencies concerning the account. AALLC has requested that the consumer reporting agencies amend their reporting to AALLC’s trade line to reflect that the consumer has disputed the trade line.

Should I contact a attorney now that they have admitted to commiiting violations what should I send back to the AG of Michigan?

Thanks,

July 30, 2010
Posted by admin at 5:16 am
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Rebuilding Credit
aallc, account, Accounts, code-indicating, consumer, individual, listed-as-open, michigan, purchaser, Reporting, student, the-accounts, the-information

Getting started on the recovery road

Jul 262010

Hello,

After doing quite a bit of reading and searchingÂ I decided to finally bite the bullet and get started fixing my credit. I think i have a general idea of how to proceed but figured i would post my situation just in case someone had some specific insight.

Last year around JuneÂ I lost my job and circumstances pretty much forced me out of contact with anybodyÂ by mail or phone. During that time my 3 credit cards 2 unsecured and one secured card went late then got charged off.

What is on my credit reports:

Wells fargo Dealer Services/ Wachovia Dealer Servies

Current Status: PAYS AS

AGREED

Account Owner: Joint Account High Credit: $13,886

Type of Account : Installment Credit Limit:

Term Duration: 72 Months Terms Frequency: Monthly (due

every month)

Date Opened: 04/2008 Balance: $10,192

Date Reported: 06/2010 Amount Past Due:

Date of Last Payment: 04/2010 Actual Payment Amount:

Scheduled Payment Amount: $265

This loan never went deliquent, my father paid it during my absence

Capital One:

Current Status: CHARGE-OFF

Account Owner: Individual Account. High Credit:

Type of Account : Revolving Credit Limit: $750

Term Duration: Terms Frequency: Monthly (due

every month)

Date Opened: 04/2008 Balance: $1,454

Date Reported: 07/2010 Amount Past Due: $1,454

Date of Last Payment: 06/2009 Actual Payment Amount:

Scheduled Payment Amount: Date of Last Activity: N/A

Date Major Delinquency First Reported: 03/2010

Wells Fargo Secured Card:

Current Status: CHARGE-OFF

Account Owner: Individual Account. High Credit:

Type of Account : Revolving Credit Limit: $300

Term Duration: Terms Frequency: Monthly (due

every month)

Date Opened: 08/2006 Balance: $288

Date Reported: 06/2010 Amount Past Due: $288

Date of Last Payment: 06/2009 Actual Payment Amount:

Scheduled Payment Amount: Date of Last Activity: N/A

Date Major Delinquency First Reported: 12/2009

First Premier:

Current Status: CHARGE-OFF

Account Owner: Individual Account. High Credit:

Type of Account : Revolving Credit Limit: $300

Term Duration: Terms Frequency:

Date Opened: 06/2009 Balance: $516

Date Reported: 01/2010 Amount Past Due: $516

Date of Last Payment: Actual Payment Amount:

Scheduled Payment Amount: Date of Last Activity: N/A

Date Major Delinquency First

Reported:

11/2009

All of these cards had perfect records prior to June/09 Never Late/Never Overlimit. The Auto Loan has never been late in the 26 months of its history.

I have the cash to pay all of these accounts in full, I don’t believe that any of them have gone to collections yet.

What I’m fuzzy on is the steps, do I pay in full than send a GW asking for a better status. Do I start with a DV even though they are all definately my debts? Or do I start with a PFD?

The SoL in my state is 7 years.

That auto loan may end being paid off here shortly as it the truck it was on was wrecked and most likely is going to be totalled out. I would like to be able to get another Auto Loan sometime around the end of this year, i’m not sure if that’ll be posible with these credit cards not dealt with.

Any assistance would be greatly apprecieated.

Thanks

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July 26, 2010
Posted by admin at 6:38 pm
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Removing Inquiries

Jul 162010

I’ve been trying to remove inquiries, some that were mine (LOL) but also some that were not. I’ve sent letters to the CRA’s AND the individual companies, with no responses at all. Does anyone have any advice?

July 16, 2010
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Please help with my baddies

Jul 072010

Well after much reading and researching on myfico I think that it is time for me to post my baddies, and see if I can get some solid advice on what to do to reach my credit goals.Â I was deployed to Afghanistan where I was blown up, and spent a lot of time in the hospital.Â During all of this the person the I degalated as my Power of Attorney decided not to pay my bills (had better ideas of how to spend my money)Â So after I was released for the hospital I started to pay off my debts. First, I have paid off of my prior debt.Â In the last year I have opened 2 CCâ€™s and I use them and pay them right down every month, about a 2% Util ratio.Â I also took out a loan, deposited the money right into a savings account, and set up autopay form that account (I thought that was pretty crafty on my part).Â Lastly,Â DF has added me as an AU on her Capital One CC that has 0% Util ratio, 5 years of strong credit history with no lates.Â So I am trying to clean up the prior baddies to go with my positive new stuff.

First:

I have a $63 paid Medical Collection that was PIF by a company called MedRev.Â

Second:

Charge AccountÂ Â Military Star

Status as of: Mar 2010

Date opened: May 2006

Date of last activity: Jan 2007

Date paid out: Jan 2007

Date Closed: Sep 2007

Acct Number: XXXXXXXX

Loan Type: Charge Acct

Credit Limit: 2500

Largest past due balance: 2748

Terms: Not reported

Account type: Revolving Acct

Account Holder: Individual Acct

Scheduled payment amount: Not reported

Descriptions: account closed due to transfer

Current Status:Â Payment after CO/ collection

Third:

Other AcctÂ Â Pioneer Military Lending

Status as of: May 2010

Date opened: Jun 2008

Date of last activity: Nov 2009

Date paid out: Â Not reported

Date Closed: Not reported

Acct Number: Â XXX(then some numbers)

Loan Type: Unsecured

Credit Limit:Â Â Not reported

Largest past due balance: Â 3537

Terms: 28 monthly

Account type: Installment Acct

Account Holder: Individual Acct

Scheduled payment amount: 168

Descriptions: Profit and loss writeoff

Current Status:Â Charged off as bad debt (PIF just waiting for the CRA to update, did not do PFD,Â learned that too late, sorry late comer to myficoâ€¦.lesson learned)

Fourth:

Credit CardÂ Â HSBC

Status as of: Mar 2009

Date opened: Jan 2008

Date of last activity: Sep 2008

Date paid out: Sep 2008

Date Closed: Oct 2008

Acct Number: XXXXXXXX

Loan Type: Credit Card

Credit Limit:Â Â 0

Largest past due balance: 945

Terms: Not reported

Account type: Revolving Acct

Account Holder: Individual Acct

Scheduled payment amount: Not reported

Descriptions: dispute resolved- customer disagrees

Current Status:Â Payment after CO/ collection

Fifth:

Student Loan Acct AES/NCT

Status as of: Aug 2009

Date opened: Sep 2004

Date of last activity: Aug 2009

Date paid out:Â Aug 2009

Date Closed: Aug 2009

Acct Number: XXXXX(then some numbers)

Loan Type: Student Loan

Credit Limit: Not reported

Largest past due balance: 21787

Terms: 199 Monthly

Account type: Installment Acct

Account Holder: Primary borrower on acct

Scheduled payment amount: Â 0

Descriptions: Profit and loss writeoff

Current Status:Â Charged off as bad debt

I have been paying as agreed for about a year, in fact just raised what I pay them monthly, but they said that this will not be updated until the whole acct if taken care of

Sixth:

Vehicle Loan Acct Santandar Consumer USA

Status as of: Feb 2010

Date opened: Mar 2008

Date of last activity: Feb 2010

Date paid out: Â Not reported

Date Closed: Feb 2010

Acct Number: XXXXXX(some numbers)

Loan Type: Automobile

Credit Limit:Â Not reported

Largest past due balance: 16902

Terms: 62 unspecified

Account type: Installment Acct

Account Holder: Individual Acct

Scheduled payment amount: Â 447

Descriptions: Closed

Current Status:Â Paid or paying as agreed

The baddie on this is two 30 days late 9/08 and 11/09 (both when I was in the hospital)

Eighth:

Vehicle Loan AcctÂ ESL FCU

Status as of: JanÂ 2009

Date opened: Oct 2002

Date of last activity: Jan 2009

Date paid out:Â Not reported

Date Closed: Jan 2009

Acct Number: XXXXX(some numbers)

Loan Type: Automobile

Credit Limit: Not reported

Largest past due balance: 19341

Terms: 72 monthly

Account type: Installment Acct

Account Holder: Individual Acct

Scheduled payment amount: 356

Descriptions: account closed by consumer

Current Status: Â Paid or paying as agreed

Like a dummy I cosigned for a buddy, and he didnâ€™t do so well. 30 days late 12 xâ€™s, 60 days late 4 xâ€™s, and 120 days late 2 times.Â Last of the lates were in Mar of 07

Ninth:

Credit AcctÂ Â Time Financial

Status as of: Apr 2010

Date opened: Nov 2008

Date of last activity: Nov 2009

Date Closed:Â Not reported

Acct Number: XX(then a few numbers)

Loan Type: Not reported

Largest past due balance: 454

Terms: Not reported

Account type: Installment

Account Holder: Individual

Scheduled payment amount: 69

Descriptions: Â Consumer disputes-reinvestigation in progress

Collection

Current Status:Â 120+ days past due

I have PIF on this acct months ago, agreed to PFD over phone (again a pre-myfico mistake), however I paid this off in Mar and still has not updated. I called OC and they said that they have sent it to the CRA but to just wait.

Tenth:

Credit Acct Verizon Wireless

Status as of: May 2010

Date opened: Sep 2008

Date of last activity: Oct 2009

Date Closed: Not reported

Acct Number: Not reported

Largest past due balance: 456

Terms: Not reported

Account type: Open acct

Account Holder: Individual

Scheduled payment amount: Â Â 0

Descriptions: Customer disputes this acct information

Current Status:Â Bad debt/ collection

Another PIF without PFD

I really appreciate any solid advice that you can give to help me reach my goals, and of course I will post with any success or failures that I have along the way.Â Again many thanks!!!

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July 7, 2010
Posted by admin at 12:17 am
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Rebuilding Credit
Attorney, Credit Card, credit-limit, current-status, financial, individual, lending, medical, money, person, usa

Older Entries

Mortgage and Insurance

Settling for less than full, how will it effect me? A bit different scenario here….

Affects of student loans on future credit

Need help on how to act on this (Cortrust Bank)

LOW-LOAD MUTUAL FUNDS Individual Investor’s guide

Rebuilding my credit – One bad at a time

When can I expect this to fall off my credit report?

Asset Acceptance Responce to Attorny General

Getting started on the recovery road

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Removing Inquiries

Please help with my baddies

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