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Everything posted by funkiehouse

  1. Thanks! A 20 month old little boy has been keeping me busy and he has a brother on the way in August. Thanks for all of your help along the way!!
  2. Just maintaining, keeping my bills paid and watching spending.
  3. I started my credit journey here on Creditboards 4 years ago yesterday. I've gone from 12+ baddies across all three reports to only 1 baddie left on Experian, of course. I've gone from $0 to $200k in credit and went from 530 FICO to a 790. It took a lot of reading, letters and research but it can be done. The first few months are the hardest and waiting for the mail everyday can drive you crazy. I did a few months of reading and research before sending my first letter. That was hard to do but I'm glad I following that advice from CB members because you really need to understand what you are doing and sending. Thanks to the admins and everyone who helped me along the way. Chris
  4. Anyone get this card yet since the changeover. Thinking about going for it. I see golions27 did. Anyone else?
  5. It isn't tax fraud. This looks like a fairly classic 1099-C issuance. No ambiguity that it should have been issued earlier after a chain of possession. People seem to have this notion that somehow collectors can write off the face value of bad debts they buy. They can't and don't and are limited to writing off the pennies they bought the debt for. But this is completely different from the amount a 1099-C is issued for which relates to the monetary benefit a debtor gained when the debt is forgiven or otherwise deemed uncollectable. Whoever owns the debt at the point that IRS 1099-C filing requirements are met is the entity required to file a 1099-C. Referring to this as some sort of Tax Fraud will just get you laughed at as clueless. Retracting the properly issued 1099-C would be against IRS rules. From everything I have read, I don't think a JDB can file a 1099 for the exact CO amount because they are not the ones writing off it off. The OC should have been the one to file a 1099 when they sold the debt and gave up their rights to collect on it. I plan on sending my letter as stated before and meeting with a tax pro to see what other options they can come up with.
  6. Another oldie but goodie https://creditboards.com/forums/index.php?showtopic=154751&hl=
  7. FYI to all: I just read one the interwebs that Hilco and Equable are the same company.
  8. I thought about that too but I want to stick it to them if I can.
  9. Hello friends. I just thought I would post my current situation for others and seek ideas on dealing with a 1099. Details on acct: WaMu acct > Chase (DOFD 07/10 - CO 1/11) > Sold to HLF6 Hilco Receivables and was with them at least through 09/2013 (last report I have from that year) > must have ended up with Equable Ascent some time in late '13 Chase is reporting $o balance and Equable never reported to CAs, never attempted to collect (as far as I know), and never sent me a 1099. About 2 months ago I got a letter from uncle Sam saying that I owe $$$ from 2013. The amount stated in the IRS letter was the exact amount of the CO by Chase and the 1099 was dated 12/31/13. I, of course, disputed this with the IRS and they sent a letter to Equable, and of course, it came back as "the information is correct." Based on my reading(s), https://creditboards.com/forums/index.php?showtopic=438542 https://creditboards.com/forums/index.php?showtopic=157670 I'm thinking of handling it in this manner, unless someone has a better suggestion: I am going to send a 623-type letter requesting validation and complete documentation of the history of the account, including how much the account was purchased for, when it was purchased, steps taken to collect said debt, and how the 1099 amount was calculated. I will remind them that we had no agreement as to an extension of credit, they have not forgiven any debt that I owe them, and that they have never validated this debt as mine. If they feel they want to leave the 1099 that they reported the same as originally reported, I will let them know that I have no problem filing IRS Form 3949-A to report what I believe is Tax Fraud.
  10. If you don't receive anything back by the 35th day from when they received it, then it's time for a CFPB complaint. Just curious, are you battling an OC or a debt collector? What's your follow-up plan?
  11. I'm actually thinking of trying to PC my BCE to a Costco so I can up my credit with Citi and drop with Amex so I can then apply for the next new Amex card or grab the SPG. I like that new purple color, oh yeah and the points too. I still need to grab that Fidelity Amex with FIA.
  12. They're twins and they're conjoined. Heather is the one on the bottom.
  13. I would keep the finger for the age but take a dump, I mean dump, credit one. Once these start reporting, getting new accounts over the next 12 months is going to be tough, not that you'll need them. Congrats on the CLs and approvals.
  14. Unfortunately, paying things off doesn't usually get you where you think it should when it comes to collections. It can often drop your scores because you make the negative accounts recently active. You will have to pay off all collections to get a mortgage so its a catch 22. A paid collection can be just as bad as an unpaid collection FICO-wise. You could also use open current accounts with higher available credit to show good credit management. Also, the age of those accounts are going to heavily impact you getting to 750. Don't forget about the possibility of refinancing later on. Even though your post is credit related, you should go check out the mortgage forum.
  15. Good deal. The Amex has been as high as 80k but I do think this is the highest for Citi.
  16. What is your goal/reason for opening all of this? I hope the benefits of the accounts were worth it.
  17. It's the old Hillbilly Backwoods Credit Union.
  18. Do they have a $0 bal? If so, don't worry about it. If you go messing with positive, closed TLs you could get them deleted.
  19. It's not likely at all unless you go with a non-traditional lender with terrible terms. It's never a wise move to go into debt to pay off more debt.

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