Ssis002

Thanks for the replies! I called Account Services and they told me it was wrong and to call USAA. There so happened to be a number on the 1099 so I called it and was on hold for an hour before I hung up. I will call the IRS and make a 1099 complaint.

Last week, I recieved a 1099C from USAA for the amount of 5600 dollars (the amount of the debt). This was a CC that was opened in 2008 and was deliquent in 2010. So that same year, it was sent to a collection agency, Account Services. I agreed to pay them the full amount and started making monthy payments to them. Towards the end about 1500 was left on the debt and they agreed to settle the 1500 for 700 which I did. The debt was finished in Dec of 2011 with Account Services. Now I get a 1099C (for 2012) from USAA stating that I have to claim the original 5600 as income because it was settled. Is this common? I don't understand why I have to claim this since it was paid almost in full to a collection agency that they sold the debt to. Any information will be appreciated. I didn't know who to ask. I am in California.

DH and I would like to buy a home soon. Maybe by early next year. We are both first time home buyers and both qualify for the VA home loan. Not sure Ficos but it looks like we will both meet the middle score of 640 by then, if not higher. Although, I would like to not be considered in the application process since I don't have any income and I have some stubborn negatives that will not come off to save my life. What are out options as first time home buyers? Our yearly income is between $55,000-$60,000. Will FHA or VA be our best route? We are looking to not put much down. We bank with Navy Fed. Who is better to bank with when it comes to a mortgage?

True. Yes, these are all paid.

anyone??

bump

I have been working on my and DH's credit for a few monthsnow. I have had the most success with the medical portion of it (thankswhychat!) Success with HSBC (GW) and Chase (GW). Unfortunately what we haveleft are CO's with the OC's. I have tried JA's (all come back updated) and GW's .All the information is now reporting correctly. I am in CA. All of theseaccounts have 0 balances and are closed. Here is what we have: Capital One (2 CO's) within SOL USAA (CO) within SOL Springleaf (lates) within SOL First Financial Bank (1 30 day late) out of SOL GECRB/Wal-Mart (CO) within SOL Sears/Citibank (CO) within SOL Veterans Administration (collection account) within SOL What can I do? Have I tried everything that I can withthese? I feel so discouraged at this point. Any advice is appreciated =)

What a great story! Thanks for sharing!

Thanks Brian! His income will qualify for it on it's own. I do not have any debts so that shouldn't be an issue =) I just don't want my score to be the one to hurt our buying process. I am having way more luck getting negatives off his reports than my own.

I didn't see this thread before I made my own but I sent HSBC a GW (for Best Buy) and they deleted two 30 day lates on a closed card. I also used the Carol Stream address.

DH and I would like to buy a house soon, in about 6 to 8 months. I am working on getting rid of some negatives before we do so. I have more than he does. Right now he has 3 negatives. I have double that. Is it possible that only he be on the loan? Or will they factor my credit also? I don't mind not being on the loan. He has a way better score than I do and also has the income which I do not. We both qualify for the VA loan so we will probably go that route.

I sent BB a GW thinking, it's worth a shot. Well, I back doored EX and EQ (TU won't let me anymore) and BB came through! This was for my DH. He had a 30 day late in 6/2007 and 60 day late in 7/2007. I'm sure it's not hurting his score too much but he wanted it off. The card was paid off in full and closed by him (before we knew better). I asked to keep the TL and change the dates, and they did just that! Now it is on the positive side, which def helps because his card was opened in 06! I have been a bit discouraged the last few days and this just makes me want to keep going! Thanks to everyone here at CB! I am still new, and don't have much to offer yet, but if you have a card from HSBC/BB def give a GW a try! Here is the address I used. I sent it CM. HSBC/Best Buy PO Box 5253 Carol Stream IL, 60197

ttt

I too just got back a GW letter that was denied. Anybody else have any success? I have one 30 day late from 7/2007 that I would like to see off.

I had my mom pull her free reports from annual credit report to make sure they are reporting correct. She did opt out before and had most of her old addresses removed. Then, today she gets a letter in the mail (to her new address) a letter from CA Portfolio Recovery. The OC was Shaw Jewelry. She had a card with them and could not pay it in 1989. They are not reporting on any of her reports. They are willing to "settle" with her. Lol! What letter should I have her send them? A FOAD? What would you do?