LadyMonteCarlo

You might try http://online.wsj.com/mdc/public/page/2_3022-autosales.html seems to have a lot of recent info.

Just checked my Citi Mastercard account and the new statement has my APR at 28.99% up from 9.90%. According to Citi 28.99 % is their default APR for paying late. Only problem is, well there are a couple. First, bill was due, paid, and credited on 3/15/10. I always pay by the due date before 5 p.m. and per their website it will be credited and it was. Never had a problem before. There was no default. In addition, the new Credit Card Act that went into effect February 2010, states that credit card companies can not increase APR to default rate unless customer is 60 days past due. I have not received a 45 day notice from Citi notifying me they were going to increase my APR so that couldn't be the case either. Though I would not imagine they would do a standard APR increase by that margin. I have emailed customer service and requested an explaination. Still waiting. Anybody else have this happen recently?

I just want to make sure I have this right. It is my understanding that if one decides to pay a collection account it will most likely then be reported to the Big 3 as paid. However, say this same collection account is past the SOL for reporting any longer to the credit agencies and also past the SOL for litigation. Other than easing the soul, where is the advantage to pay off this collection account? I mean, if I pay, then it is renewed and reported for another 7 years, right? This would be a bad thing. Is there anything stopping the collection agency from renewing / reporting? As of now, it's no longer on the books for being reported. Occasionally, some sleeping giant wakes up and begins to send letters and calls, but that is of little concern, really. They eventually crawl back in their hole. It just seems, if I am understanding it correctly, there is no advantage to settling a very old debt. In fact, it would seem that it would harm instead of help. Do I have this right? Thanks

I don't trust Cap One. Keep us informed. It wouldn't surprise me in the least for them to slap that 2006 balance on your new card. It's dangerous to flirt with disaster on such a recent CO, but hope all goes well for you.

Several years ago I sent in the ap for BOA secured Visa along with a $500 deposit. They sent me a denial letter a week later. About 2 weeks after that they sent me my money back. Not a sure thing at all.

Correct me if I'm wrong, but the FDCPA was created by the federal government to protect consumers from this type of harrassing behavior. It really doesn't matter what the state law is (which should be in line with the feds). A creditor / debt collector can NOT call you legally before 8:00a.m or after 9:00p.m.

That 550 is based on Chase's risk model scoring I believe.

My subdivision outside of Austin, Texas is pretty much a sleeper community. During the day the neighborhood is vacant except for a few cars / trucks in driveways here and there. Over the last month, I am seeing more and more cars in the driveways. This has gone on much longer than your average vacation time etc. Troubling to say the least. Then there are all of the foreclosure signs posted in windows. I can count 6 driving down my street that has taken place over the last 2 months alone. The mall? It looks like one of those Saturday morning early bird specials at 11:00 a.m. Too few persons to mention. Target, Walmart, Best Buy not much better. Police are posting circulars on cars asking to help prevent theft by not leaving stuff visable in the cars. Why? I suspect that theft is about to go through the roof here in our little sleeper community. I'm concerned that people are really going hungry at this point. People are posting stuff stolen on Craigslist asking that you email them if you see their stuff posted. All hell is about to break loose! People are on edge big time. One good thing about all of this is that I have noticed the traffic is lighter lately. Trying to stay just a little positive, but dang it's hard right now.

This is interesting considering the number of defaults taking place. However, thanks to CreditBoards, the consumer has now learned to stay off of the phone. The CA's no longer have the intimidation factor on their side. Before CreditBoards, many of us thought we HAD to talk to CA's. We had no choice, but to be humiliated, intimidated, and forced to make agreements that we knew would seriously compromise other financial obligations. Everyday I learn something new and worthwhile here at CreditBoards. I love this place!! As for the CA employee's receiving their pink slips, I'm sorry to see anyone lose their job. However, now would be a good time for these folks to move on to a more honorable profession in my humble opinion.

It's Experian that offers this product. Just go to their website and under contact us get the 800 number. I called and cancelled my Triple Advantage a couple of weeks ago. Of course, they try to keep you and offer a great discount etc, but just stand firm and they will give up.

You said that the due date initially said Dec. 1. You have already paid by phone and it's only Dec. 10. If you made a payment in Novemeber then you have NOT been 30 days late. Obviously, the date of Dec. 31 would be the next payment due. At best, you would only be a week after the due date. While they can and will CLD for not paying by the due date, they can't list you as 30 days late unless you really are 30 days late. If they do then you have dispute on your side.

This issue at hand is that BofA denied a LOC to this small business. As a result, this small business could not make payroll. One of the big purposes of the hurried bailout was so that small businesses could continue to get their LOC to make payroll, etc. The reason as reported by CNN that the LOC was denied was due to the business not showing a profit during the last quarter. Being the reason as it is, this in turn will lead to many more shut downs in the very near future if BofA is allowed to do this. Not a lot of businesses are turning a profit at this time. The banks that participated in the bailout basically took the money and ran. No help is available for the purposes of which the bailout was created.

If the ex-wife was awarded the truck and it's stated in the divorce decree then it's her bill not yours. Unless, of course, it was also stated that you were responsible for the payments. I would think that a copy of that decree sent to the person's involved should resolve the matter. However, it would have been your responsibility at that time to notify the leaser of your status change involving the lease. Still, submit a copy of the decree. This can do no harm.

Yes, greed it what got us into this mess at all levels.

Way to go!! Some people take to CreditBoards like a duck to water