management » Mortgage and Insurance

Two recent collections on CR, same debt…need advice…

Mar 142011

Hey everyone!Â Not too long ago I had a 1000 CL with HSBC, hoping to rebuild.Â Things got tough financially and I used it to live on.Â So, basically screwed up!Â I wanted to pay but never had the money until now.Â Well they’ve charged off 1700 bucks sometime last year.Â It is listed on my account as a closed CC account, no other information only states charge off.Â It doesn’t say how much it was or anything.Â

Recently, Midland Credit Management picked up this debt.Â Now they’re also reporting as an open collection.Â This decreased my score even more.Â It does state the amount, but doesn’t say the OC, but I know it’s that CC.

I want to send PFD and get rid of it.Â But how do I go about getting rid of both?Â HSBC won’t even look at it they say they sold the debt and they no longer have any reason to deal with it.Â I do have another $300 CC from HSBC, which I’ve had trouble with but have been making payments on time since November and it has a zero balance now.Â I also have a couple school loans that were paid off that were HSBC as well.Â Does this help in any way?Â

I’m thinking maybe I should send Midland an offer of 1000 bucks as a PFD.Â Then send HSBC a PFD for the remaining 750?Â I dunno, any advise is well appreciated!Â : )

March 14, 2011
Posted by jedwan at 6:50 pm
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Rebuilding Credit
account, couple-school, decreased, hsbc-as-well, management, midland-credit, money, remaining, remaining-750, sold-the-debt, sometime-last, thinking-maybe

Three CAs one Debt

Mar 112011

In the past I had tried to contact First Pr. About a CC that was being reported by them (they are the OC) but I didn’t know about SOL then. I was given advice from members of another forum to leave it alone until the SOL passes in a few months.

Earlier this week (Monday or Tuesday) I received correspondence directly from First Pr. Indicating that my account was being handled by Genesis Financial Solutions and I needed to contact them directly; however yesterday a dunning letter arrived from Source Receivables Management stating that they have been assigned by FP to settle the debt for 70%. It has the standard “Unless you notify us within 30 days after receiving this notice that you dispute …”

Confused by the two different CAs being involved, I called the 800 number that is on the First Pr site and, after entering my old acct #, the computer generated voice told me that I had to contact Pinnacle to discuss my account!.

That makes 3 CAs involved now.

I’m willing to pay this debt as the MyFico simulator has told me that doing so would greatly raise my score.Â It is one of my last negative accounts and I have been unable to get rid of it.Â

What is my next step?

March 11, 2011
Posted by admin at 3:04 pm
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Rebuilding Credit
account, after-entering, being-involved, being-reported, called-the-800, debt, generated-voice, management, settle-the-debt, until-the-sol

Family Credit Management mistake

Feb 212011

Good morning, I have had a recently discovered issue.Â We’ve been using Family Credit Management for 4 years now.Â They’ve done a good job so far – until apparantly last year around June.Â Last March dh had a lay off for one month and this led to us being one month behind to FCM.Â They were handling 3 creditors at the time (when we started we had 11 creditors under them!).Â The three were Target, Chase, and Sams.Â

We worked closely with FCM and got caught back up inside ofÂ 8 weeks (including the missing pymt, so we were ‘all’ caught up then).Â That was approx June by then.

We went along like normal all year after that, and I didn’t have anymore late payments to FCM which meant (or so we thought) the 3 they were managing were getting their pymts on time too.Â Part of what happened is my fault, but part of it I believe is someone else’s – I need opinions please.Â What happened was a week ago I pulled our FICO scores from this site as well as ordered us each the 2 reports available from here.Â I was SHOCKED to see that Target has been consistently reporting us as being 60 days late every single month since June.Â It appears as if we’ve been behind on every month by 60 days!Â But we were paying FCM and thought all things were good.

Naturally I called FCM and said WTH?Â We utilize this company in order to prevent this type of issue.Â I’m so frustrated right now.Â Â So she takes a look at it and basically scratches her own head and says she needed to call Target to see what happened.Â Then she calls back and explains that the guy she spoke to did say that our account was ‘supposed’ to get re-aged after the make up payments were made back in May/June timeframe but that *HE* didn’t even know why it hadn’t happened so he said he’s going to ‘fix’ it now.Â Here’s the kicker — he said he’s only going to be able to make repairs back to November.Â So that will mean that every month from June-October will still reflect the 60 day late thing!Â Thats five months!

I told the FCM CS that was not right since we believed to of been caught up (we never deal with Target and only with them) as we stayed in constant contact with them and was caught up inside of 8 weeks – so we had no reason to think anythiing was wrong.Â I mean, we would of happily paid anything Target wanted us to, if only we would of KNOWN about it.Â Also, the other two – Sams and Chase- had no lates marked out on them.

So, the part where I accept blame is this:Â we no longer get paper statements from Target and around a year ago something happened with our online log in for Target so I haven’t been logging in since I didn’t have the new PW.Â Thats my fault completely.Â Had I been either logging in or getting paper statements then I would of seen that we were 60s late every single month.Â Our reports also clearly show all other payments are completely on time and haven’t had any lates in 3 years (even back then it was only one 30 day one) until you suddenly see all these red marks from June to present as all 60 days lates for Target.

I’m really frustrated and it seems FCM doesn’t wish to accept any of this on themselve or want to really work too hard to help us get these wiped off Target’s reports.Â Sigh.Â What can I do?Â Thanks, Lisa

February 21, 2011
Posted by jedwan at 1:20 pm
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Rebuilding Credit
after-the-make, behind-on-every, family, family-credit, fault, fcm, kicker, management, online, payments, pymts-on-time, statements-then, time

Some Updates…

Jan 222011

So recently, I managed to pay off both of my CO credit cards, Cap1 and HSBC and I’ve brought my installment loan current + plus paid a month in advance. I still have Verizon Wireless left to pay, but now….”Drum roll”…I have to take care of Strayer University for outstanding tuition.

Here’s my question(s), I recently set up a payment plan WITH Strayer that should have been for exactly 12 months and the account would be resolved. They have not reported any past due balances on my credit report, but could they?

Also, after I set the payment plan up with Strayer, I got a letter in the mail from Access Receivables Management for the exact same dollar amount telling me that I could set up a payment plan with them.

Which one trumps the other? Payment plan with Strayer, or collections through ARM? I suppose I’m not understanding why Strayer would still refer me to collections if they’ve set up an agreement for payment with me directly. I should have asked this about a week ago, because now that I’ve seen the letter from the CA, I did not pay on the payment plan with Strayer. In an earlier letter from Strayer, they said once my account had been sent to collections, I could not make payments through them and all payment arrangements would need to go through the CA. What should I do?

January 22, 2011
Posted by admin at 11:46 am
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Rebuilding Credit
account, credit-cards, credit-report, earlier-letter, installment, letter, loan-current, make-payments, management, payment-plan, Question, recently-set, seen-the-letter, strayer

Non PP feedback?

Dec 282010

Do I sign it? Or just type my name? Other feedback appreciated.

My name

My address

December 28, 2010

Asset Management Professionals

c/o [Edited to remove personal information]

665 Molly Lane, Suite 110

Woodstock, GA 30189

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â RE: No Permissible Purpose to Access My Consumer Credit Report

Mr. [Edited to remove personal information]:

Your organization placed a â€œhard inquiryâ€ on my TransUnion credit file dated 10/9/2009. As you probably know, Credit Reporting Agencies treat inquiries as a statement of fact and will not allow a consumer to dispute them. Since it is against federal law (Fair Credit Reporting Act — 15 USC Â§ 1681n(a)(1)(B) for an entity to view a consumerâ€™s credit report without a “permissible purpose,” I am writing to inquire as to your alleged purpose for doing so since I did not apply for employment with your organization nor did I request credit from your organization.

Based on the evidence in my possession (including a number of â€œsoft pullsâ€ also made), this hard inquiry was performed under false pretenses as described in the clear language of the law. 15 USC Â§1681n(a)(1)(B ) states, in part, “in the case of liability of a natural person for obtaining a consumer report under false pretenses or knowingly without a permissible purpose, actual damages sustained by the consumer as a result of the failure or $1,000, whichever is greater;” Â Your organization is civilly liable to me in the amount of $1,000.00 for your willful violation of the law, in that you performed a hard inquiry on my TransUnion file without my permission.

I do hope that we can settle this matter amicably. You can remove the inquiry and destroy any and all information you obtained from my consumer credit file within one (1) business day of the receipt of this notice. Or, I will file a complaint with the BBB and will also take steps to file suit, and we can meet in court where, by statute, you will end up removing the inquiry, paying me the civil liability fine, punitive damages for my score drop, plus court and attorney fees. The choice is yours.

Please contact me immediately at the address listed below. Â

Sincerely, Â

December 28, 2010
Posted by jedwan at 8:30 pm
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Rebuilding Credit
actual-damages, against-federal, all-information, civilly-liable, consumer, false-pretenses, management, organization, permission, remove-personal

Public Employees Pensions At Risk

Dec 142010

An analysis by Robert Novy-Marx of the University of Rochester and Joshua Rauh of the Kellogg School of Management finds that public pension plans for America’s 50 biggest cities and counties are underfunded by $382 billion–or $14,000 for every household in those same cities. Some of the biggest plans may run out of money to pay promised benefits in as little as five to eight years.

http://abcnews.go.com/Business/city-pensions-americas-50-biggest-municipal-pension-shortfalls/story?id=12366160

December 14, 2010
Posted by jedwan at 4:44 am
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Finance
biggest-cities, every-household, joshua-rauh, kellogg, kellogg-school, little-as-five, management, pay-promised, rochester, the-biggest, university

REALLY need your help and advice!

Dec 072010

Hello to all.

I am trying to fix up my credit for a secret clearance I am applying for, for my job, and I really need your help.Â Currently, freecreditreport dot com is stating my credit score at 562, and myfico score watch is showing 515.Â I am going to list my creditors so that you can know exactly where I am at.Â My goal is to get as many â€œbaddiesâ€ removed as soon as possible (PFDâ€™s) to raise the chance of getting a clearance.Â I am not worried about a credit score so much (but I do want it to rise), I am more looking to get the bad items removed so that I look better on the report.

Here are my items in collections:

Experian per FCR.com:

Reporting Agency	Â	Amt Due	Â	Opened
Â	Â	Â	Â	Â
Account Recovery Systems	Â	312	Â	6/1/2009
AIS Services LLC	Â	710	Â	3/1/2008
American Property Recovery	Â	128	Â	11/1/2009
AMSHER Collection Services	Â	401	Â	1/1/2006
Arrow Financial Services	Â	813	Â	7/1/2008
Credit Management LP	Â	206	Â	10/1/2008
Enhanced Recovery CO L	Â	1573	Â	2/1/2010
Equidata	Â	131	Â	9/1/2010
Healthcare Funding SLT	Â	119	Â	3/1/2010
Merchants and Professional	Â	79	Â	2/1/2008
Midland Credit Management	Â	516	Â	9/1/2010
Midland Credit Management	Â	655	Â	6/1/2008
Payliance	Â	57	Â	2/1/2008
ProCollect	Â	1921	Â	11/1/2008
Williams & Fudge	Â	1233	Â	3/1/2010
Williams & Fudge	Â	27351	Â	3/1/2010

Equifax per MyFICO Score Watch:

Reporting Agency	Â	Amt Due	Â	Opened
Cornell University	Â	1233	Â	Mar-10
Cornell University	Â	27351	Â	Mar-10
Unknown	Â	159	Â	Aug-09
Unknown	Â	226	Â	Aug-09
Unknown	Â	104	Â	Nov-09
Healthcare Funding SLT	Â	119	Â	Mar-10
ProCollect	Â	1921	Â	Nov-08
Enhanced Recovery	Â	1273	Â	Feb-10
Cox Cable	Â	139	Â	Sep-10
Unknown	Â	32	Â	Apr-07
Account Recovery Systems	Â	312	Â	Jun-09
TX Gas	Â	79	Â	Feb-08
Comcast Houston	Â	206	Â	Oct-08
Payliance	Â	57	Â	Feb-08

If you have any experience with PFDâ€™s with any of these companies, please let me know.Â I have about $3000 I can use for PFDâ€™s and want to get that process started.Â

How long does it usually take from asking for a PFD to the account being deleted from your report?

Thanks in advance for all the replies and advice.Â I really appreciate it!

December 7, 2010
Posted by admin at 8:27 pm
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Rebuilding Credit
arrow-financial, comcast-houston, credit, financial, houston, management, midland-credit, professional, recovery, removed-as-soon, report, score-at-562, score-watch, table-border, these-companies

Debt Relief & Management Tips : How to Get Out of Debt

Nov 292010

The best way to get out of debt is stop using credit cards and plan a spending budget. Eliminate debt with tips from a consumer credit counselor in this free video on personal finance management. Expert: Maria Enomoto Contact: www.gotdebt.org Bio: Maria Enomoto works as a credit counselor for Consumer Credit Counseling services in San Jose, California. Filmmaker: Bing Hu
Video Rating: 5 / 5