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Everything posted by shifter

  1. That's overly complicated. All you have to do is pay the current statement balance by the due date. Once that statement cuts you will have your grace period back even though there will be some trailing interest applied on the statement.
  2. Never had an issue paying the full balance of any amount on any other credit card. I'm not talking about ACH bank account transfers.
  3. Well, NFCU makes the list. Try to schedule a payment for my full CC balance. Daily ACH limit is $10k. Can't pay the balance. Have to either schedule multiple payments over multiple days or push a payment from my bank.
  4. No. However, you are going to need to list the creditor and specific account details to get any useful advice.
  5. Wouldn't you ghost too if you just wanted to start a whining session and instead you got logical answers and recommendations?
  6. I highly doubt that a cable company reports to CRAs. If you are seeing reporting, it's likely a CA and you should follow my pinned thread instructions about how to handle it.
  7. His reasons for being in a hurry are not important to the question. They are just wrong. Credit repair is a long term proposition. You can't get out of the mess quickly.
  8. Not any more. With the special COVID related unemployment the employer files and let's the state know it's COVID related.
  9. I'm sorry the credit card is so difficult to manage. I would recommend paying the full balance due as soon as you receive the bill and you shouldn't have any issues.
  10. shifter


    Not sure I understand the 1 day too late when credit was pulled and it was declined ml
  11. Why is he in a hurry? He spent plenty of time to get into this mess, he can wait another couple of weeks to make sure it's cleaned up right.
  12. Based on my recent research with a 701 middle FICO, the rates will be second tier, which is still decent right now. When I was looking the best rate was 3.25 and I was looking at 3.75.
  13. You're either insolvent or not. If you're worried about becoming less insolvent as you settle each account, I for one didn't worry about that. I settled accounts over the course of a year and filled as insolvent to eliminate the tax hit.
  14. Of course it is. There are also employers who are specifically working this system to get their employees the extra $600/week by hiring them back but less than full time so they can double dip. Unemployment right now is filed by the employer. Everyone is working the system together.
  15. You said you had 11 CCs with Chase, but nothing about a banking relationship. Why haven't you already talked to your business banker about the cards being shut down? Just about every bank uses inventory and other assets as part of their calculation for establishing a business LOC.
  16. https://www.irs.gov/pub/irs-pdf/p4681.pdf There is a worksheet on page 6. The date of "cancellation" would seem to be the date they accepted the settlement offer and you made the payment finalizing the account.
  17. Are you just here to complain about the injustices of the banking system or to work on a solution to your current situation? It sounds like the former.
  18. Naturally this is correct, but this type of business revenue and spending is way beyond what one can hope to support using off the shelf personal credit cards. You need a corporate banking relationship. If you're spending $2M/mo you should be doing $4M+/mo in revenue. Any bank would love to have a $50M business as a customer.
  19. You can get a mortgage with a 580 score or less. But you're going to pay through the nose for it. 700 is not going to be the best rates for conventional, but should be decent if indeed your FICO 2/3/5 middle score is over 700. But unless you have 20% to put down, conventional isn't the right option for you anyway, so it may not matter.
  20. Who are you banking with? If you are doing the kind of revenue to support 2M/mo in inventory purchases, you need a personal relationship with a corporate banker at a large bank who can work directly with you and the lending department to facilitate this level of spending. If the revenue is there, there should be no problem getting a large LOC that you can use to float business spend on whatever credit card you want. Amex is another good option as they are known to approve multi-million dollar purchases on their charge cards. There is no revolving balances and paying interest though. PIF every month.

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