Time to work at home

Mar 182011
 

Here is a good idea. Any help we give to other Countries  must be manufactured here or grown in the USA This should employ workers.

My process on Rehabilitation with my defaulted school loans

Jan 292011
 

I’m brand spanking new to this forum and I have to say, its freaking amazing. It’s comforting to know that I’m not alone on the issue of trying to fix/rebuild my credit. Well, here’s my 2cents on the Rehabilitation Program for defaulted school loans. Any advise, tips or comments to help me on my situation is more then welcomed as well.


Back in June of 2008 I went into default with USA Funds, Inc. who was my creditor for my school loan. I entered to do a Rehab program with General Revenue Corporation (GRC) and completed it with no problem. 2 months later, my defaults with USA Funds were deleted off my credit record BUT my prior negative reports with Sallie Mae, before USA Funds took over, were still showing delinquencies. So I contacted Sallie Mae, their response was, “WE CANNOT DELETE ANY NEGATIVE/DELINQUENCIES PRIOR TO YOUR DEFAULT DUE TO SALLIE MAE’S POLICY BUT YOUR DEFAULT STATUS WERE DELETED.” Which then got me REALLY confused and feeling cheated because before I agreed to do the Rehab, I was told by GRC, that my default AND my negative/delinquencies prior to default were GOING to be deleted and brought up to a clean, paid on time records.


So I called Sallie Mae and requested a letter that states my completion of the Rehab Program and as soon as the letter arrived the letter stated this:


Dear **********,


Sallie Mae, Inc. is a servicer of student loans for national and state guarantee agencies.  We are pleased to inform you that you have successfully completed your rehabilitation program as of 06/24/2010. Your education loan(s) listed below was purchased by the lender and is no longer in default.


The guarantor, United Student Aid Funds, Inc., will notify the national credit bureaus to delete the defaulted status. As a result of your rehabilitation, the lender/servicer that maintained the loan(s) prior to this default will be notified. It will be their responsibility to correct any adverse credit reporting that they may have made.

 

The letter quotes, “The guarantor, United Student Aid Funds, Inc., will notify the national credit bureaus to delete the defaulted status.” which USA FUNDS, Inc, held their side of the bargain and deleted them asap! BUT this portion of the letter, quotes, “As a result of your rehabilitation, the lender/servicer that maintained the loan(s) prior to this default will be notified. It will be their responsibility to correct any adverse credit reporting that they may have made.” Now, is it not Sallie Mae’s responsibility to fix my past adverse (negative/delinquencies) reporting as the letter from USA Funds, Inc., Quotes? Sallie Mae were my original school loan creditor before transferring over to USA Funds, Inc. 

 

So I did some research and found this:

 

“Because the statute specifically refers to a stream of 12 payments as determined by the institution, the institution must work with the borrower to determine a payment amount that is appropriate. The statute does not require a signed rehabilitation agreement. In accordance with the 1998 Amendments, once the loan is rehabilitated (after the 12th payment has been made), the institution or its servicer must request that any credit bureau to which the defaulted loan was reported remove the default from the borrower’s credit history.  The borrower is brought current and is no longer considered to be delinquent or in default. Removing the default is consistent with the requirements of the Fair Credit Reporting Act (FCRA), which requires that an institution correct and update the information it furnishes to a credit reporting agency.”

 

- The Higher Education Act

 Section 674.39 Loan Rehabilitation

 

For full article of the law that states this claim, Google the above source, as I lost the link to the site. Sorry :(


So, in your guys opinion, does it seem like Sallie Mae is obligated to make the changes to my credit report? and I have the upper hand? If so, how should I approach this to where they can’t argue back and fix the issues.


I hope what I provided is of some help to others in a similar situation and if I find out anything else, ill be sure to post it up here for everyone.


Any advise, legal advise, tips or comments will be greatly appreciated. Thanks :)

Foreclosures For 2010

Jan 132011
 

There were 1 million foreclosures for 2010 and it is projected that there will be 5 million in 2011. How could this happen, the job market has opened up, and there are plenty of jobs out there? YA RIGHT. Unemployment claims are lower solely because the 99rs have fallen through the cracks, and others are about to exhaust all benefits, and many have just given up. Why don’t we look at the numbers of families that have lost everything and are on welfare, foodstamps. Entire families living from day to day in shelters. The richest nation in the world. Shame on the USA 

The Feds are economic idiots!

Jan 072011
 

       Nothing will improve without job growth, to get job growth we need to raise our GDP, stop out-sourcing, and bring back made in the USA, Wall Street is in a bubble, and politicians need to stop using Wall Street and Banks as indicators of the economy. It’s just not real. Look, the banks are all better Wall Street is rising, yet people still have not regained the homes, jobs, or money they lost in the last 5-7 years. 

 

      Politicians keep saying, “We need to cut spending.” How about you stop bailing out every jerk off who bankrupts a Nationally Traded Company, then allow himself to give him a self a fat bonus for doing so. I keep screaming, where are the **bleep** lawyers. The young guns, who want to make a name and a reputation for themselves. Indict a couple of these Wall Street **bleep** clowns, on Fraud, racketeering, laundering, mis-leading the public, or any other statute you can find. File a couple class actions against those who negligently and erroneously gave loans to those whom they knew were ill-equipped to pay them back.

 

    Lobby your Congress person. Change the bankruptcy laws to pre-bush era rules. Let the Market experience true risk. I know we are hated world wide, but do we need to spend that much on “Defense.” Better safe then sorry, but talk about Mac Aurthors Military Industrial Complex. What is it… We spend like 80% on defense. How about taking 15% of that to R and D, to create the new thing that will get us off oil. Hell, put it under Defense, as they are most definitely related.

 

When will people make sense in Washington?

Your Opinions Please

Jan 052011
 

Hi There,

 

I am starting to rebuild after a bankruptcy in 2005, an car accident, multiple miscarriages, a move from NY to FL for job, marital issues that caused a 9 month separation, and now a new born (5 months old). Let’s just say, life has been rough.

 

I did a pull with a FAKO site that is affiliated with TU and the following are my scores – TU 607, EX 625, and EQ 604

 

TU just recently removed 6 accounts from my TU report (not sure about the others).

 

The following companies have negative line items on my report

 

HSBC – paid via RPM below

New Millenium – paid

First Premier – still owe

Capital One – paid via LVNV Funding

USA Funds – double up (I consolidated my student loans and they were paid but it has lates on there)

1st National Bank of Texas – paid

Verizon – paid

LVNV Funding – paid (this was the Capital One account above that was paid via another CA)

Jefferson Capital Systems – still owe

Enhance Recovery – still owe

Bureau of Collection Recovery - paid

Receivables Performance Management – paid

 

The ones that are already paid, do you think I could send them a letter asking for deletion, does anyone have any experience with any of these companies? would it negatively affect me to even bother or should I just leave them alone and not restart the SOL.

 

I need help, I am new here trying to get my act together to be able to buy a house at some point next year.

California Budget Gap May Reach $28.1 Billion

Dec 092010
 

Kalifornia, the Bastion of Unionized Public Employees Run Amok coupled with the Poster Child of Unsustainable Progressive Policies is fiscally insolvent with no hope of ever digging itself out of the hole from which it finds itself….one can only ask “how long before they are begging for a Federal bailout.  Until that time they plan to issue IOU’s & Warrants…….who knew that a State within the USA could start issuing it’s own pseudo currency.

 

Watch and learn, as investors shun their bonds and the financial death spiral commences.  Kalifornia is the canary in the coal mine for the rest of America if we don’t start to get our own National Fiscal House in order.

 

Unwilling or unable to make the necessary cuts, it is only a matter of WHEN not IF it happens.  If they do attempt to reign in the spending will we see proteste & riots as have been occurring in Greece, Spain,& Ireland?

 

http://www.bloomberg.com/news/2010-12-08/california-budget-gap-may-reach-28-1-billion-over-18-months-brown-says.html

California’s budget gap may widen to $28.1 billion over 18 months, according to Governor-elect Jerry Brown, who takes charge of the most-populous U.S. state next month. A cash shortage may force the use of IOUs by July, Controller John Chiang said.

The deficit estimate takes into account a $2.7 billion drop in projected estate-tax receipts, and compares with the most recent forecast of a $25 billion gap for the period, Brown said today at a public meeting of state officials. The cash accounts may be short by $2.3 billion within eight months, Chiang said at the meeting in Sacramento.

“I don’t want to say it, but this could mean IOUs and more tax-refund deferrals,” Chiang said.

Chiang, who contemplated the use of warrants this year amid a record 100-day budget impasse, issued $2.6 billion of the IOUs to vendors in July 2009 while waiting for lawmakers to pass a spending plan. Brown, a Democrat who takes office Jan. 3, faces a widening gap after negotiators closed a $19 billion deficit for the current fiscal year, which ends in June.

when is the recovery going to kick in ?

Nov 282010
 

 

That I do not know but I can say this Obama is trying but he’s met with resistment from all angles. Everyone is saying he’s not doing a good job but remember he didn’t make this mess. so he needs more time and help. no one is complaining about all the bull gthe Bush administation caused. he’s the reason we’re in these wars. there was no weapons of mass destruction just greedy ole republicans and the USA being a bully. The real problem is North Korea and you see Bush didn’t mess with them because of China so quit putting everything on Obama and think about how we got in this mess to begin with

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