dhwentinc

Hi ALL, I was recemtly told by my Loan Servicer that a 30 Day late can be reported to the credit bureaus, even though the payment was not tech. more than 30 days past due. It this correct ? I was told that any time a payment is made in the following month regardless of the day count, it can be reported as late. I have been working on a home loan od. and things are tight, but I have managed to avoid any 30 day lates, in case I have to go for an FHA refi. My example would be as follows: Payment Due on the First of the month. Actual payment received on the 1st of the following month ( 30 day month ) I am assuming that this is a payment that is not more than 30 days from payment date. I was also told that for example, that a payment due on Feb. 1st, and paid on March 2nd, would also be a late payment even though Feb had 28 days. Tech. it would not be over the 30 day mark. Would that be correct ? I am just really tight right now and want to try to keep from having any lates reported if possible. Any clarity on the reporting limits would be appreciated. Of course, I would love to be paying on the 1st, as reguired. Hope to get back on track very soon..

Anyone have this happen ? Looking for any input on a strange situation. Help appreciated !

I had the strangest thing happen during my rebuilding efforts. I applied online for the American Dreamcard from Direct Merchants Bank and got 7-10 day message. Last week, I got a letter asking for ID Check and that I was credit approved !Haven't seen the card yet. ( Honestly don't expect it ! ) But I was wondering if any one has been approved with HSBC and had a DMCCB card included in Bankruptcy. It sems odd that DMCCB would approve anyone that included them in their Bankruptcy. Do you think it is considered a fresh start since HSBC aquired DMCCB ? Anyone have a clue what's up ? Will faint if I get a card....... How would you proceed ? Input appreciated....

Bump**

Just a quick question from previous post. Has anyone been approved for the American DreamCard from DMCCB ( HSBC) after including Direct Merchants Bank in Bankruptcy. Direct Merchants was not part of HSBC when we filed and were discharged... Got Approval letter, but needed verification of address. No card yet ! Would love some good feedback on probabitiy of actually receiving this card before applying for another new TL.

BUMP !!

NoBull.. When we had DMCCB prior, we had an $8,500.00 Limit and never a problem until business failure. We also had several Citi cards and AMEZ, so it will probably be a while until the prime cards can be gotten. I have obtained 2 Orchard Cards in my name and was just very surprised ! I can really use a decent TL in my rebuilding efforts. Do you think they'll cancel our cards if we keep disputing the old DMCCB Trade Line. ( Charge Off ) reporting after discharge date.. ?

Thanks for the info. I am amazed and thought it would never be approved. When we call to check status, they keep referring to the old account number. I wanted to make sure they didn't try to add the old balance back in some how. I know they can't legally, but ?

I had the strangest thing happen during my rebuilding efforts. I applied online for the American Dreamcard from Direct Merchants Bank and got 7-10 day message. Last week, I got a letter asking for ID Check and that I was credit approved !Haven't seen the card yet. ( Honestly don't expect it ! ) But I was wondering if any one has been approved with HSBC and had a DMCCB card included in Bankruptcy. It sems odd that DMCCB would approve anyone that included them in their Bankruptcy. Do you think it is considered a fresh start since HSBC aquired DMCCB ? Anyone have a clue what's up ? Will faint if I get a card.......

We weren't sure what to do..We do have another Corp.shell which has not been used for several years and it does have it's own Experian Report established, but no history. We turned in our E.I.N. number however. Could we just re-apply for a new E.I.N. and go from their ? How would our address be viewed ? Could the previous creditors that would be included in our Bankruptcy reject us because our address matches an old account in their database ? Just a strange thought we had about starting over. We use our home address at present as our business address. Thanks

Has anyone had their business credit survive after a Per. Chapt. 7 was filed ? We are in the process of filing a Personal Chapter 7 case and our Atty. has recommended filing on the Business as well. We are not sure if that is in our best interest, as we would like to rebuild our business. Should we Start a New corp. or try to salvage our existing Corp ? Any help is appreciated.

Hey Folk's, can anyone tell me if we can use a Corp. we have sitting on file to build business credit. No activity for several years, but it is still listed with Experian and DUNS. Established 1990.... We recently had to file Chapt. 7 Per and Bus. on another Corp. for personal reasons and on the advise of our attorney, but we do have another existing corp shell.We thought this might be a good way to rebuild after closing our other business. After we change the name,can we use the same address as our previous corp. ? How close do the Credit Grantors monitor previous addresses and Principles. Exp. ( CitiBusiness, Staples, Home Depot and the like ) Any one done this ? How did you go about it.I need some help with this ! Any Ideas ?

We had an S Corp that slowed to a stop after several years of good growth.Our income was cut in half as a result. We tried everything to work with our creditors, but the cc's went straight to 29.9 % which we carried for a while, but we finally realized it was a lost cause and that we would never be able to completey pay them off. DW has a good salaried position. I was self employed. All Payments were current on secured items. Never Missed or Late. Some CC'S are 60-90 at the time of filing. Thanks for any ideas or help.

Thanks For Your Reply !

Hi Everyone, One of the best boards I have seen. I hope someone can give me some insight on my current situation. Filed Bk 7 no asset, case should discharge 8/1/2005 with no issues ( We Hope ) I would like to persue investing in real estate as a new career and would like to know if anyone has gotten a mortgage after a chapter 7 for investment property ? How Long Afterwards ? What kind of terms did you get and what was the criteria for approval. We kept our house and one commercial investment property, two vehicles and note loan secured. ( All Current ) We will have about 15 accounts that should be IIB after a little cleaning. We have never missed a payment on any of the secured accounts prior to, or post BK7 filing. We may have to work on our scores, but at least we would have a target goal. Any Ideas ? Thanks......