Kari

Hello All Looking for any thoughts on this... been on DMP for 6 months (with Careone), all payments made on time. Had surgery and tons of medical bills starting in April. Current DMP payment is $600, which was previously ok, but I'm now 1 month behind and am really struggling. Spoke with CareOne today, they gave me info on settlement. Sounds like this is the route I want to take- I understand the consequences of my credit score. I just need this debt gone for good. Some of it is over 10 years old! Just can't deal mentall and emotionally with it anymore. Would I be better off calling the creditors directly? Not really sure what to do next. Also, how does SOL come into play? I live in PA. Thank you!

Thanks for the info Bryonm! Wanted to add my experiences... Chase- Extremely friendly, asked a bunch of questions. Lowered APR to 6%, reduced payment from $52 to $38. Closed account, said it would be "closed by consumer". Account is current, never late. Capital One- called (866) 929-5303 (found it on another website) and was transfered to another dept. Rep was hard to understand and would only offer me a 3 month program, something about not being charged any late fees. I specifically asked for more details, that's all she would give me. I very nicely explained that my situation wouldn't be solved in 3 months and she said there was nothing else they could do. Account is current and has never been late- probably why she wouldn't help me. HSBC- called customer service line, asked for Hardship department. She said there wasn't one and referred me to NFCC. Also current and never been late. Of course HSBC and Cap 1 are my largest balances and highest APR's. I'm planning to call back later this week.

Hello! Does anyone have a contact # for the hardhsip folks at HSBC or Cap 1? I didn't see it listed in the other post. How are they to work with? Thanks!

I think I may be losing my mind on this one, but wanted to ask... I know the amount you can borrow/take from your 401k is dependant on your specific plan rules, and if you take a hardship it will be taxed, etc. Let's say I want to take 100% of my vested balance as a hardship (which my plan allows) and use it as my DP. Is there any limit to how much the lender will let me use? I "thought" my lender told me I could only use 60%, but now I'm wondering if I just got confused as I've never heard of that before... We just put an offer on a house (sellers haven't responded yet) and now I'm freaking out. Anyone know the answer? Thank you VERY much in advance.

Hello all! I'm happy to say that my husband and I just got our preapproval for an FHA loan this week! YAY! This forum has been so informative and has really helped us. Our preapproval was at 5.5% for a 30 year fixed. His middle is 720, mine is 678 (great credit but high utilization). We're putting the minimum 3.5% down and hoping to get seller assist with closing fees. My question is, when do we start to shop around for rates? At the preapproval step, or not until we get an accepted offer? I assume this is where the GFE comes in? I haven't been able to find much info about this, I'd appreciate any tips. Thank you!

I agree... I have about $100 which I was planning to pay off on Friday anyhow. And I had already decided not to use the card since even at 15.9 it was one of the higher. But I really wanted to keep it open since we are buying a house at the end of the year. But at the same time, it just really irritates me that they treat people like this... Ok, steppping off my soap box

Also got my letter... APR is going to 30.24 from 15.9!!!!! I have good payment history with Wamu for the past 2.5 years, clean reports and scores over 700. I love that you can "opt out" and choose not to accept their changes, but then they will close your account. WTF? ARGH!!!!

Evening All, Just received a call from Focus Receivables Mgmt... said I owed $21.20 from a Uhaul rental back on August 2006 (did rent a uhaul, don't owe money). I recall them calling back in 2006, but they never sent any letters as I requested and nothing ever hit my credit reports. So they called again tonight. As all my accounts have been current for a few years now, and not recognizing the number, I answered. I asked for her to send me a letter- either to show the amount, or the original letter from 2006, anything! She said they "sent 1 letter back in 2006 (honestly never received it) so they won't send aything else and will continue to try to collect this money." Then she hung up on me!!!!! Do I need to do anything in order to protect myself? I refuse to pay this debt since I sincerely don't owe the money. They have never even sent me anything that I can verify/validate. They do hve my current address on file. Thanks all!

Happy Friday! Just a few things I wanted to get some opinions on if anyone has a second? Background: First time home buyers in NJ, buying around Jan/Feb 08. DF and I both have middle Fico's over 620. A few lates about 4 years ago, nothing since. No debt other than cars (660 total/mo), total income $115k. I'm trying to research all options in advance to be better prepared. Price of townhouse approx $330k. Taxes approx $6000 (yes, that is correct) Insurance $60/mo We know we will have at least 10% to put down, if we wait until July/Aug 08, we MAY have the whole 20% to avoid the PMI. But that also means maybe higher interest, wasting more money on rent ($1500), etc. A friend in the business ran some numbers, a 30 yr fixed with 10% down was about $45 less than the 80/15/5. I really want to stay away from ARMs. Any thoughts? Thanks in advance!

I sent in my autorization to withdraw the $99 and my application early September. I called mid October and they said the money would be withdrawn and the card sent after the merger on the 23rd. I called again on the 27th, was told the cards would be sent between Nov 3 and 10th. It's the 7th today and the money still hasn't even been pulled from my account. I'd call them, but I can't seem to get through to anyone intelligent until at least the 3rd or 4th time I'm transfered. Just curious if anyone has heard anything. I hate being in a situation where I need them more than they need me...

Try Citi Financial. I had great luck with them.

My state maxium APR was too low (12%) so Prosper wasn't a great option for me. I went with Citi Financial. I was able to get enough to pay off numerous cards and save money doing so. Good luck!

Not at all. I was asking for 2500. With my salary and hers combined, should have been NO problem at all. Of course I have bills etc, but her mtg is paid, no car payments, nothing. Perfect credit. Like I said, it was so interesting that it mentioned income and not credit. I would have thought the other way around (if anything), never recived the income message before! I'm just shocked. I have never been denied from them before, and my credit has improved since I first joined!!!!

I applied for a small personal last night with Navy Federal, from which I have a current credit card, a LOC, and have 2-3 loans in the past (that I got w/o a cosigner), all paid on time and all paid in full. I even included a cosigner on my loan just in case. WELL... apparently the credit portion was fine, but I received the "income is not enough to apply for this amount" message. My co signer and I make a VERY decent amount together, certainly enough to get approved for the amount. I am livid. I only used a cosigner b/c I'm still rebuilding my credit (and making great progres, yay!!). My credit is not horrible, but there is room for improvement. They must have changed their criteria, Ive been approved for this amount before. I just applied at Citi Financial, I hope they approve me.

Hey there... I was very seriously looking into starting a DMP a few months back also. Luckily a couple of things happened that tremendously helped my situation and I didn't need to. I did research, on research on more research. I found a few websites that were very helpful and loaded with tips on DMP's, espcially this one. It's a link to the Federal Trade Commission. (hope it's ok to post the link) http://www.ftc.gov/bcp/conline/edcams/cred...oninfo_debt.htm As others said, I think it really depends on a persons situation. But for me personally I was willing to risk the hit I would take instead of have various lates on my report. Good luck to you. I truly hope it helps your situation.