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      While every lender, foreclosure and modification situation is different, this is a place to discuss and share your experiences.

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  • Our picks

    • I've been getting things cleaned up over the past couple of months.  The only thing remaining on any of the 3 CRA's is 2 paid medical collections on EQ listed as closed.  If these paid collections negatively affect your score why would all 3 CRA scores be within a few points of each other?  Again, the only difference between the 3 is the 2 paid collections listed on EQ (and not listed on Trans or EX).    
      • 1 reply
    • For the past coupla months (while paying down balances) I have been aiming to apply for
      1) car loan from BofA ($8K)
      2) BNP Paribas BotW MC that I got a mailed pre-approval for
      3) AmEx Everyday  (which I think is a mild stretch (but AmEx does love me ))
      When I log on next week (once my $1,800 payment on my FNBO Visa reports on myFICO), in what order do you think I ought to submit these apps?
      Second question:  If I want to go for the current Southwest promo (100K points!!) from Chase, where would that fit in to the sequence?
      (In practice I might just zotz the AmEx app, in order to go through with Southwest. Boring Everyday card will always be there but this bonus offer will not.  Still though, I wanna hear everyone's thoughts on the scenarios.  )
      • 18 replies
    • Good evening,
      I am trying to take some steps to improve my credit.  
      I filed Chapter 7 on 07/30/2014, discharged on 11/05/2014.
      I haven't done much to improve my credit score since.  I have no credit card debt right now.  I have my mortgage which I have been paying off, without missing a payment, and two auto loans.
      I have two credit cards with Capital One.
      Is there anything I can do to improve my score, and my wife's score (she is on the bankruptcy as well) until the bankruptcy finally falls off of my credit report?  Or will my credit always remain poor until the bankruptcy comes off?
      Thank you!
      • 11 replies
    • Hi, I wanted some help to know what is the best way to use my line of credit to increase my credit score. I have 3 Credit Cards and 1 Line of credit. I use my 3 credit card less than 10% each month and pay in full every time. Just got a line of credit with my bank of 5000$ and took 500$ right away. I didnt need the money I just wanted to make a payment history. My yearly interest rate is 11%. My question is what is the best way to increase my score with the Line of Credit. Do I borrow 500$ each month and pay it in full each time? Or do I keep that 500$ and repay 50$ a month? What is the best way to improve my credit and add a positive history with that line of credit.
      • 6 replies
    • We purchased a vacant lot in 2004 from a company that also provided the financing for it. We stopped paying on it 2009. The county foreclosed on us last month due to delinquent taxes of 10-12 years of non payment. 
      Fortunately, they never reported this mortgage on our credit reports. The only thing I ever seen was a soft inquiry around the time we purchased the property. 
      The company mailed us a letter stating they bought it at the auction and if we sign a quit claim deed over to them they would give us a satisfaction of mortgage as well as $200. I was perplexed and finally after all these years had my first contact with the company. I asked why they would need a QCD coupled with an incentive if they own the property being that they were the winning bidders at the auction. They said, "It clouds the title so if we get the QCD, it removes the cloud." 
      They were super nice in talking with me. I told them I've been paranoid about this ever hitting my credit. The rep stated, "We report every 30 days but don't know why it hasn't been reported. Perhaps we weren't reporting back in 2004." 
      I then dug deeper to speak to a "higher up" as the one rep was unsure. She told me, "I know what it is to struggle with credit. I myself am one of them. We have no intention on reporting this to the CBA's. I am the one who does the reporting. I will actually remove the report button for you so it never reports and send you a picture of it that I did."
      Well, I don't even know if this picture is enough to insure that it will never report. Secondly, I asked her again for it today and she told me, "Oh I'm sorry. My phone was acting up on Monday but I'll send it to you in a few minutes today. I still haven't received it after requesting it a second time. 
      I then started thinking...........Am I not protected by the FCRA or FDCPA? I was also told in the state that there is a 10 year SOL. 
      Can they still report this? I don't think they'd report it anyway since they haven't in over 10 years but wanted to ask the vets here on CB. 
      FYI.....The company sold almost 7,000 lots and it was owned by a father and son. When they sold us the lot in 2004, they said, "If you don't want the lot, we won't report it to the CBA's. Just sign it back over to us, no questions asked, and we relieve you of the debt." Well, they were hoping we would give it back because the lots were going up in value rapidly and they could sell it again for even more money as well as keep our deposit. Over 10 of my friends and family members also bought lots with me. They never sent them this letter but 2 of my family members filed BK so perhaps that is why. 
      • 8 replies
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