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I think at least one charge a month and promptly pay that off each month and every 6 months should qualify for higher credit line.

Hi everyone, Looking for Arizona-specific advice on an auto repo deficiency. I personally guaranteed two company vehicle loans(long story short, boss said if I want to stay employed, I need to do this favor). The business later failed, both loans became delinquent, and both vehicles were repossessed. One lender, Chrysler Capital/Santander, has already sold the first vehicle and sent me a deficiency notice for about $20k. I’m still waiting to see the final deficiency on the second vehicle. These were company vehicles, but I understand I may still be personally liable because I signed/guaranteed the loans. Before I pay, settle, or wait for collections, I’m trying to understand my options. Main questions: No way to get myself out of the personal guarantee part now, correct? What documents should I request from Chrysler/Santander to verify the deficiency? Should I ask for pre-sale notice, proof of mailing, auction/sale records, fee invoices, payment history, and GAP/service contract refund info? Is it better to negotiate now before lawsuit/collections? In Arizona, how often do lenders sue for auto deficiencies around $20k? If they get a judgment, can they garnish bank accounts, brokerage accounts, or 1099/self-employed income? Is there any useful defense if the vehicles were company vehicles but personally guaranteed?

I got out of credit card debt several years ago using this method! It's fantastic but you must follow it! Now I'm working on my mortgage and car debts and it's exciting to see how the debts just rolls off!!! Love it! Congratulations

That’s awesome. Congrats!

Amex Hilton Surpass. 150k Hilton points for $3k spend. $150 AF waived first year.

CSP approved with 24k credit line [100k signup bonus] i originally had the CSP when it first launched and downgraded to a Freedom about 4 years ago. I qualified for the sign up bonus! I am surprised at the credit limit as I thought I was capped out. This brings me to 70k and nearly matched my CSR.

Step 1 - put the card in your sock drawer. Step 2 - on your birthday, remove the card from your sock drawer, fill up your gas tank using it, then promptly put the card back into your sock drawer. Step 3 - wait 5 days, go on line to Cap1's web site and pay off the card. Step 4 - Go to Step 1. Follow that and you should never screw up that card again.

What I do with most of my credit cards is anything I charge I pay whatever amount off prior to my account cycling so my account bills or cycles with no balance. I always did this with Discover Card and Capital One and I still got credit line increases after 6 months. Both of these accounts are closed now. I had problems with my Capital One card pertaining to an authorized user and I decided to close out my cards with them.

I did the same thing with my accounts with imprint. I unfroze the reports and got the pre-approvals and prior to accepting the approvals I refroze my reports avoid any inquiries. I did that with three accounts with imprint all with no inquiries.

You can also ask an Original Creditor to "recall" the account from a CA.. but, as you mentioned, if they 100% charged it off, they won't (can't?) do it. Some.OCs are agreeable to doing that (within 90 days?) but once it is charged off, then CA rules apply...

Oh, January is real and it's spectacular. I paid them off in February or so. They show up when you don't pay Merrick Bank and can do collections things.

When Costco says your application for the Anywhere Visa is Pended and gives you the 7-10 day message with an Application ID.. 1. Does that mean Denial? 2. Does that mean there is a number you can call, to get a decision and possibly an approval?

Hello, I currently bank with Wells Fargo, under my business account minimum daily is $2000 with no fees. I want to explore other options since my business is slow right now. Anyone have any suggestions? Thank you.

And this once again proves my point - that FICO hates paid off debt. Over your head and drowning in debt is okay with FICO as long as you are slowly drowning and keep paying those minimum payments along with tons of interest. Paying off 1% of the debt is good money management to FICO, paying off 100% shows FICO you can't be trusted.

What's your goal? If you have balances on multiple accounts, some late, you won't get many or any credit limit increases on the Dicso card.

As the title says! I was just approved for a $500 Discover (now says Discover by Capital One. Okay) card. That was their counter, did this through their website applying for Discover It and this was their counter and I took it. Capital One used to give CLIs if you maintained good account history etc so... This is my chance to not max the card out and screw the opportunity up. My question is, simply, how to best use it as far as how much to spend a month, how to calculate dates, and how to really manage this one well, since I have about 7-10 accounts to pay off, mostly revolving open and unsecured credit cards. I'm ignoring the "collections" for now. They are mostly dormant, so.. What is the best strategy about how to use and pay this $500 limit card? Thank you!

Is Merrick reporting a balance still owed? If so, then Merrick still owns the account. When an original creditor sells an account, it must report a $0 balance owed. That is because the balance is owed to the new owner and the original creditor no longer has anything to do with the account.

Leverage meaning they admit they bought the debt, not hired by the OC to collect it. Have things changed in the past decade since I fixed my own credit with the JDB? They used to be useless and one letter they would go away!

JDB*

They may or may not be a purchaser. Even if an OC has charged something off, they may still own the paper and use third-party entities to collect. They may also have elected to sell the paper, depending on how stale it was. The language in the reply you receive to any manner of dispute will likely clarify things for you. I would add that an email is likely going to have snail mail arriving shortly after...

Why do you believe the verbiage gives you any manner of 'leverage?' It clearly indicates that they acquired the matter via purchase. Reporting on any of the four major bureaus has absolutely nothing to do with collectability of a purchased debt. Remember also that you have no standing to communicate with the entity (because it isn't your account) and they have no obligation to communicate with you.

Every case is dependent upon the facts germane to THAT debt. A purchaser steps into the shoes of the original creditor. In this day and age, most will also have the documentation necessary to satisfy a court in any manner of litigation. Until the debtor reaches out with an appropriately worded letter, one does not know what documents the purchaser may have in their possession.

Mine *was* frozen and was asked to unfreeze. I should have been smarter; I was just thinking they couldn't do even a soft pull because I didn't have a previous relationship but they did a hard. Live and learn. It hasn't affected my credit *too* much, but my scores are all just under 800 so that's kind of a psychological thing.