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Money Management

Discussion and tips on sound money management.

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  • Our picks

    • (if I posted this incorrectly I apologize)
       
      Without a long drawn out story I'll just quickly lay out the facts:  Had a great mid-700's score a year ago, now i'm low 500's. I'm a 32 year old homeless vet with about $28K in debt. I currently work part time and attend school fulltime (paid for through pell grant and I was awarded a small scholarship)
       
      I'm debating whether to file Chapter 7 or dispute everything (I've been reading about the letters, and the jack attack)
       
      I'm just so lost. One minute Ch7 sounds like a great idea, but then I remember the consequences that can come when I am in a financial place to look for residence, then the next minute I'll think GREAT! I'll just dispute everything and hope it gets removed so my score improves dramatically (and hope the removals don't come back)
       
      I'm in a unique position now where either option seem good. I can provide more clarity on my situation as well, I'm just embarrassed at having to be writing this post in the first place.
      • 62 replies
    • Well I finally pulled my fico scores and Im satisfied with the progress thanks to everyone help. Question is now how do I see my mortgage scores. I paid for experian to get fico thinking I would get all three mortgage scores but it only gave me Experian's score. If I buy my fico will it show all three mortgage scores?
       
      EXP 541 to 669
      TRANS 520 to 636
      EQUI 520 to 655
      • 4 replies
    • Greetings, Thank you kindly for any and every response before + after the fact.
       
      Regarding a one year apartment lease. it's been just over one year since moving, first collection company contacted me in May, and again June - weird, it's like the complex sent it twice. It shows twice as the same amount, a $1998 charge-off. I would love to sue the apartment complex or some way hold them accountable - serious wrong doing and lies.
       
      Now just want the simplest way to move past it. Question is, when disputing to the 3 bureau's is best to make my case, describe what happened etc or is there some technicality to just have it removed? I was reading another thread about them having to be bonded in the state? I'm in Fl. 
       
      Also, are the disputes best done online, is that more common or do people mail nowadays?
       
      Quick recap if that helps:
       
       Lease expired 11/1. I was out 11/19, which of course is late, but I do have in writing from Manager to allow me to stay without fees if out by 11/16. the elevator was broken 11/12-11/16 creating the necessity to complete move 11/19. 
       
      They had a $1519 security deposit (one month). I was dumb enough to think a refund was coming, it was over the Holidays, and hopeful, I contacted Manager whom I had been in contact with, told she with a new property. My papers processed by someone else. I get notice on door of missed package, sign thinking they will leave it the next day, track it, and it shows "return to sender". SO I've never received itemized bill. 
       
      The only way that I have any idea what they chalked the fees with is a respone from manager on an online review I left for them. They stated that the carpet needed to be replaced.
       
      I Left that apartment EMPTY. I also filled in a move-in checklist and noted the carpet on it.
       
      Regardless, how does a $1519 deposit turn into a $1998 Charge-Off??!!!?!!
       
      Anyway, it boggles the mind that the apartment complex has done this to me. it's despicable, really. One of the reasons the Manager granted request initially was that I paid on time every month, had no issues. The fact that they would sever what could have parted amicably is beyond me.
       
      It's been a year...still think about suing, but would appreciate any advice. it took my credit from 700 to 600.
       
       
       
      • 27 replies
    • So somebody got ahold of my Citi CC number and successfully charged $753 and change on some pool website. I saw the charge and called the company and they said the order looked fraudulent and they had canceled it and refunded my card. 
       
      So I contacted Citi to get a new card number and disputed the charge. Well, first the refund from the merchant never posted. Now 3 weeks later I call Citi to see what's taking so long with posting my credit from the dispute. 
       
      They say that it's still under investigation and they will not post the credit until they finish the investigation and determine it is fraudulent. Until then I have to pay it off when my bill comes due. 
       
      Has anyone ever seen anything like this? Every dispute I've ever filed they credit my account instantly. That's the whole point of having a CC - they are liable for fraud, not me. 
      • 19 replies
    • Hi WhyChat,
       
      I happened to bounce onto this forum whilst skimming through medical bills and need your assistance.
       
      In a bit of situation for which I am not sure what approach I am to take 
       
      (1) Wife had to undergo some medical procedures in 2018 and that resulting in some medical bills
      (2) I had missed a month of payment after negotiating a payment plan with the hospital unfortunately and it had gone through to debt collections
      (3) Reached out to the Financial Recoveries (debt collectors) and negotiatied another payment plan unknowingly to me that inspite of doing so that they would report it on my wife's credit report
      (4) Checked my wife's credit report this month and I see the collections records listed in her profile
      (5) Called Financial Recoveries and they were not helpful with my request to remove the records off my wife's credit report upon payment. They say that once its settled, it would be marked as closed and it would eventually 'fall' off
      (5) Called the hospital and asked them if they could claw back the debt so that I could pay it off with them and they could have Financial Recoveries pull it off my credit report. They had mentioned that I could pay the debt to either the hospital or the debt collectors but they have no control over the credit report issue.
       
      I am at loss right now as to what approach I should take to remove those derogatory remarks from her report and would appreciate any advise. I read that goodwill letter 'might' work after complete payment but there is no certainty of that.
       
      One thought that ran through is that if i were to pay the complete amount to the hospital they technically Financial Recoveries would have nothing to claim and they maybe 'bound' to remove those remarks? 
       
      Any advice is highly appreciated!
       
      Hisham
      • 16 replies
  • Posts

    • General lending practice would preclude any type of secured loan using your home as collateral with the presence of a lien.  Worst case scenario is that the house is seized and sold at auction for non-payment, selling at a depressed price that jeopardizes the lenders interest.   An internet search suggests that in the case of a standard mortgage, the IRS may be willing to subordinate their lien to the mortgage company's position, enabling the lender to proceed with a loan.  However, I doubt that option is available with a home equity loan, particularly if there already is a primary mortgage in place.   Another option to consider would be to finance repayment of the lien via another loan.   That would open up a HELOC option.  Obviously, the unsecured loan rate may be unattractive relative to the interest being charged by the IRS.
    • Chiming in with cashnocredit ..;.   We just received a wine order for the holidays (2 btl champagne, 9 btl wine) that tallied to $535.  Some exceptional stuff at roughly a 30% discount vs our local discounter, Total Wine.   At any rate, I can see how 2 cases of moderately premium stuff might easily run $1200+.      
    • You can use( borrow) the NY 6 year SOL. When did you default??   Ohio's statutes for credit card debts have not as yet been successfully challenged in Court as most credit card Companies are domiciled in a 3 year SOL State. If you were sued and wanted to try to use Ohio's 4 year SOL for a defense you would have to either do it yourself or find a lawyer willing to buck the current system. The 4 year SOL has been successfully used as a defense for medical debts, however there was no signed contract involved. OHIO UNIFORM COMMERCIAL CODE   1302.98 Statute of limitations in contracts for sale - UCC 2-725. (A) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it. (B) A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach. A breach of warranty occurs when tender of delivery is made, except that where a warranty explicitly extends to future performance of the goods and discovery of the breach must await the time of such performance, the cause of action accrues when the breach is or should have been discovered. (C) Where an action commenced within the time limited by division (A) of this section is so terminated as to leave available a remedy by another action for the same breach, such other action may be commenced after the expiration of the time limited and within six months after the termination of the first action unless the termination resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute. (D) This section does not alter sections 2305.15 and 2305.16 of the Revised Code on tolling of the statute of limitations, nor does it apply to causes of action which have accrued before July 1, 1962. Effective Date: 07-01-1962 (P) "Consumer transaction" means a sale, lease, assignment, or other transfer of an item of goods, or a service, except those transactions between persons, defined in sections 4905.03 and 5725.01 of the Revised Code, and their customers, or between attorneys or physicians and their clients or patients, to an individual for purposes that are primarily personal, family, or household. For the purposes of this chapter only, a "consumer transaction" does not include a lease-purchase agreement.
    • Maybe not. Costco has a range of various bottles with prices tabs over 1k.  Last time I was there they had a 50 y/o Scotch for $29,998.   That's over $1,000 a shot. I'll pass.   Binney's has even more expensive stuff.
    • Did on online CL request for my BoA Cash Rewards Visa looking to raise it from $29.7K to $50K.  Came back with a CLI to $47.6K.     Not sure how they hit that odd amount of an increase but I'll take it without question.  

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