TBIAgent69

So, in the past year alone, Chase has closed two accounts of mine with a 0 balance (10k limit) and drops another card I have to the balance every chance they get. As if that wasn't bad enough, they turned around and raised my APR to 21%. Does anyone know where I can send a complaint letter to where I won't just get a form letter in return? I know it will probably just fall on deaf ears anyway, but I want to at least inconveience someone for a little bit. I tried the search function and a yahoo search, but I didn't get anything. Thanks!

I currently have a revolving debt limit of 26600 across 6 cards, with 20300 of it used (76%) I have one house with only a first mortgage, 93k balance, value approx 105. I have another house with a first and a second, with 80k balance between the two and also valued at approx 105. I know the balance/limit ratio is very high, but last year I had a 90 day late on one of the houses that I managed to bring back current (was paid current as of 3/09). Before this, I had approx 60k of total avail credit with about 27k used) Right now the interest rate is killing me on my Chase card; they just raised the rate to 24%. Are there any cards out there right now that I'd be able to open and have a good balance transfer rate? My Experian score is around 640-650. I'm also looking to get a new house within the next couple of months (hopefully prior to Apr 30th) so I don't want a ton of inquiries. Thanks for any help!

Thanks for the input, I didn't think it could hurt to pay in one big chunk but it makes sense

That's what I thought, I just thought I'd ask. My biggest concern with bringing the utilization down is that the company will reduce the limit or close the account once I pay it off, which will just put me in the same position I am in now. Are there any companies offering balance transfers with my low score? What happened last year is that I had about 70k of total credit with around 22k in utilization. I fell behind on my mortgages but paid all my revolving accounts on time. They thanked me by closing all my cards that had no balance, lowering all my limits to the balance, and now I'm starting to get bumped up interest rates. So now instead of less than 30 percent utilization I am now up in to 90's, which just tanked my score even worse.

My only concern is that I tried to work something out when I was late (was 90 days until last year's tax refund) and as soon as I mentioned it is a rental property I get shut down. I will probably just try to refinance but I was hoping I could seal a deal without having to pay the $500 for a home inspection plus closing costs.

I am planning on getting about 8k back from my tax return in the next few weeks. Here is my situation: Credit Union: 4700 balance - 17% APR USAA Platinum: 9800 - 14% Discover: 5300 - 16% Chase: 4300 - 20% Amex: 4100 - 16% Chase just bumped my APR from 16 to 20% due to the pending federal regulations. When I called to complain about it the rep explained that they need to make more money so they are raising everyone's rates. At least they were honest... I had a 90 day late as of March of last year. My score is currently around 630, and I really need to boost my score. By paying off 8k, the simulator gave me a score of almost 680 (I'm not depending on it being exact because I already qualify for a VA loan). Will any of these companies make a deal to pay off my balance? If they do, will they close the account or give me a 1099? I'd really like to make the refund stretch as far as possible. I am planning on boosting my credit score with the 8k, then applying for a new home mortgage and 2 refinances (2 rental properties) simultaneously. When I close on my house and get the 8k refund, I was going to use that money to take another bite out of the credit card debt. I'd love to be out of credit card debt by the end of 2011 and this will prettymuch catapult me there.

I don't know if this has been resolved yet, but I hope this helps. I am a licensed insurance agent for CA, ID, WA, and OR. In CA credit is not allowed to be a factor. For some reason, it is discriminatory to think that people who are financially irresponsible will be irresponsible while driving, just as it is discriminatory to think that young people will make worse decisions than older people, or where you keep the car will determine if it is more likely to be stolen/vandalized. Although all of these principals are actuarally sound, 'sticking it to the insurance companies' makes for a good platform to earn votes, even if it makes insurance more expensive for everyone else to subsidize the people who can't be accurately rated. Credit can have a huge impact in some states. I'd reccomend checking with your state department of insurance to see if it is allowed, and they may even be able to tell you which insurance companies look at credit in your state. With Geico (Can't speak for other insurance companies), noone actually sees your credit score. The rating system will pull an 'insurance' credit score and determine what tier and company placement to put you in. With the 5 year rating, the way it works is this: Nothing outside of 3 years is SURCHARGED but can still affect you If you have an accident outside 3 years but within 5, you will not get a 5 year good driver discount. If you have tickets outside 3 but within 5, you will probably be put in a higher risk tier or company all together. In case you don't know, most insurance companies have anywhere from 2 to 4 "Companies" They will have a high risk, standard risk, and preferred company. Within those companies, there will be what is called a tier. For instance, say you have a ticket from 2 years ago, decent credit, and are 28 years old. You will get placed somewhere in the lower end of a standard risk group - Say... Indemnity, Tier 7 (scale from 1 to 20, 1 being highest rate, 20 being lowest) Say you had the same stats but really bad credit, you may end up with Indemnity Tier 1. While this sucks, the amount of time you spend with the company in good standing (good pay history = good credit), you will move up in tiers until you will be placed in the preferred company. You mentioned you added those 3 tickets later in the quote and it raised it. While they are not technically 'charging' you for it, you are placed in a more risky tier than someone who has never had a ticket. Make sense? If you decline to allow credit to be run, you will usually automatically be placed in the tier with the worst rating for failing to disclose underwriting information, so it doesn't hurt to just provide the info. You obviously don't live in CA because those tickets wouldn't have affected you.

My Grandmother was having issues making payments on her mortgage (B of A) and they sent her a preapproved mortgage mod packet. All she had to do was sign a paper, check some boxes, and send in her W-2's from last year and (supposedly) she is taken care of. I have been juggling payments the past few months and have had to pay the second mortgage late a couple of times. This is a rental property I have in Idaho that I am currently losing about $500 a month on. Specialized Loan Services (who owns the second) sent me a preapproval where they would reduce my payment from $160 to less than $50 per month, all I had to do was sign the agreement and send in $300. I jumped on the opportunity and mailed in the payment (which will put me in a bind but I am sure I can dig myself out) and found out today that it is set in stone. My question is, is there something I can do to trigger B of A to send me a mortgage mod packet? They are the servicers of my first mortgage and I'd really like to have them send me something instead of haggling with the loss mitigation department. Thanks for any advice!

Ok, so maybe I used the incorrect terminology, the due date on the bill says the 1st, however a late fee is not assessed until after the 15th. When I started with the homes I was able to pay the loan prior to receiving rent, but about a year ago I suffered an injury and wasn't able to work for 6 months which completely depleted my cushion. That's when I had the late pays. I guess I'll just have to live with it. Thanks!

So I have two income properties (I could buy them thanks to all the help I got here) and I am getting a little more than irritated with the mortgage companies. I have to wait until I collect my rent for the month before I can pay them, but they are almost always paid by the 15th (I've had 4 lates in over 200 payments made, which I know is no bueno but I've fell on some tough times as of late) Every month around the 10th or so I get at least two phone calls per day per lender and it is getting really bothersome, especially since I keep getting automated voice mails, which I really hate. I've spoken with reps and asked them to not call me anymore but send a letter if they need to contact me, but they keep on doing it anyway. Is there any way I can prevent them from bugging me like this? I know there's the FDCPA but for some reason I don't think it'd apply since I'm not in default. Any guidance would be appreciated. Thanks!

Say what?!?!? How does locking one's keys in one's car determine one's driving skills???? "More likely to have a collision".....not if you can't get in your car you're not!!!!! <{POST_SNAPBACK}> I'm still trying to figure out how one's credit determines one's driving skills. I remember back in the day getting declined for one company because my credit wasn't good enough. Who cares that I've NEVER, EVER had a wreck or a ticket, or even been pulled over for that matter (knock on wood). <{POST_SNAPBACK}> The fact that companies use credit to determine company placement is pretty lame. That, I really don't agree with. Their rationalization is that Better Credit = More Responsible = Better Driver. Many states (like California) are attempting to create an underwriting atmosphere in which all drivers are equal. To quote our CEO "Many countries have tried this in the past and have failed". You can't try to make a 55 year old housewife driving a honda pay the same premiums as a 16 year old with a sports car. But that's the direction it seems we're going. Can't rate based on Age, Can't rate based on Sex, Can't rate based on Experience.... When you take these factors away, companies will look for other ways to underwrite. They have to. They can't just accept the fact that certain demographics will just be skewed and cost them money. I'm not ragging on you for not calling your company. If that's your decision, then that's yours to make. It doesn't hurt to call them (unless you're with progressive, in which case you have to wait an hour to speak with someone) and ask them what the end result would be if you took a certain action (filing a claim). It doesn't hurt to ask. Just ask in a hypothetical sense in case they document it.

SOME states require a hit and run to be reported as not at fault. However, it's just as easy for the guy to hit you to call his insurance company and say that someone hit him and took off. That's insurance fraud and why rates are so high and underwriting is so tight. If we had a more moral society, then maybe we wouldn't have the problems we do. Another problem is that insurance companies hire a lot of salamanders. I applied at one 4 times before getting hired. If you're a college grad, you'll get hired in a heart beat. Even if you just turned 22, your parents just paid your way through 4 years of partying and now you're out in the real world with no work ethic or experience. Out of a class of 20 something people, most of them college grads, about 40% don't make it though training. Another 40% don't make it past their first year. So I'd say Fraud, and Eployee Training are probably where a lot of your premiums go.

Say what?!?!? How does locking one's keys in one's car determine one's driving skills???? "More likely to have a collision".....not if you can't get in your car you're not!!!!! <{POST_SNAPBACK}> To answer some questions: All 50 states have different laws for Insurance companies. Honestly, companies will usually exploit these laws and cover exactly what is allowed/not allowed. Usually no more or less. GEICO is a company that will usually offer more coverage in areas than other companies will. When you use any type of Emergency Roadside Service, it will show up on your CLUE report. This goes for ANY ins company. When I had an extended warranty on my pickup truck, the 3 times I locked my keys in the truck showed up on my clue report. You can't blame the insurance company for reporting it. It's a loss for them. When you pay $12 and get a service that's minimum $60, and could be way more, you're causing the company to take a loss. The company trying to charge extra for using these coverages or denying insurance because of them is at fault. A ERS claim is made as a Comprehensive claim, and not at fault to the driver. You wouldn't get punished for a tree falling on your car, or someone stealing it. Then again, that also boils down to state law. There's some other reason this person was declined for coverage than just the 3 ERS claims.

Not even close... At all... Names or anything. Plus, these guys are 1500 miles away. They're trying to get me for $2700, and these other guys for $7000. I don't know if it's from the same OC or not, I'm just assuming it was a clerical error. A pretty big error though, IMO.

I still have 3 cards with them, one of which expired in July. I never received a renewal card although I received the renewal letter. When I called in August they said that it was in the mail. When I called in September, they said it was in the mail. When I called in November, the first girl I spoke with said she needed to transfer me to a specialist, and then cold dropped me on another CSR (same position).She couldn't find the account, and said that I must be confused with one of my other accounts. I then asked if I could just consoolidate the cards in to 2 and just add the available credit together. She started talking like I was trying to debt consolidate, and then I declined. After calling back a fourth time they found it after I read the numbers off the card, and did a lost/stolen which caused me to be really agitated. As soon as I get home, I'm saying bye to these jokers as soon as I get some better cards. When I applied, I was in the 530's. Now I'm in the 660's+. Down from 13Dorog's last year to 2 now, soon to be 1.