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Everything posted by ManofB

  1. Hi CB Gurus, I got notification through Credit Sesame that my score dropped because of a collection hitting my reports. Upon checking into it, it is for an ATT debt. I do not have any of my paperwork from ATT, this is bad I know, I have improved in record keeping since then. It also appears that ATT has purged my login credentials from their system so I cannot login to retrieve anything there. The CA has not called or sent a dunning letter. Since I do not have any paperwork or data I'm thinking of doing the following: 1. Send DV letter to the CA 2. A
  2. "Money in the bank" is savings, which is an asset, it's not income. How do you calculate net pay? After gross minus 15% to 401(k), minus 15% to the ESPP plan, minus automatic deposits to nine different savings and brokerage accounts, I only have enough direct deposited into our checking account to barely cover our recurring bills. I wouldn't want to be evaluated on this number, nor would a credit issuer want to incur the expense of getting documentation to sort all that out. I could also elect to defer up to 100% of my compensation for 15 years, which would result in $0 in current ne
  3. As I am going through a post BK rebuild and slowly acquiring new credit, I am finding myself wondering as I have in the past, why do creditors use gross income as a basis of approval and/or CLI's? Money in the bank (net income) is what pays the bills. Not complaining at all, its good for all of us as long as we have our diligence in check, but it seems like a strange way to do business. Anyone have thoughts on this?
  4. Increased limits should only really give you a bump if you have high(er) utlization. Are you carrying balances?
  5. After spending some time away from here with the occasional lurk, glad to see you are still kicking rear and taking names. Your story was always one that I have always referred back to. A real triumph story. Always kept me motivated.
  6. It has been quite a while since I posted, as with a lot of things, my credit has improved with time alone. Aside from my daily monitoring services I decided it was a good time to get my credit reports. Called TU to purchase a hard copy, automated system per usual- however this time after I entered all my info, it did not ask for payment. It simply said you will receive your report in 6-8 business days. Did I accidently get into the free annual report version? I don't have anything particular to dispute at this moment, maybe some early age off stuff- but not anything that 45 days wouldn
  7. I have to share this excerpt: "Tom ran a collection agency staffed largely by born again Christians, whom he sometimes recruited at Bible study groups. Tom's collectors called debtors, listened to their woes, cried with them, prayed with them, and told them they only had to pay 20 percent of the principal they owed - moreover, 20 percent of what they paid would go to a Christian charity that helped feed the poor. In the test run for this program, Tom bought a portfolio of debt for $7,000 and collected $180,000 on it in roughly 60 days" That's actually pretty brilliant.
  8. Yes, for example in the very first deal he did, he bought a portfolio of "paper" for $30k, worked it for 4 months, collected around $80k, then sold the rest of the paper he wasnt able to collect on for $10k. So he ended up with $60k in profit from the paper (excluding bonuses, etc paid to collectors) in 4 months time. Not shabby. What I found interesting was the going rate for buying these portfolios. The time frame that I am in the book, he is paying $.01 on the dollar for "paper" that has been sold/worked more than once. The going rate for "fresh paper" i.e. recent charge offs purchased
  9. Only a quarter of the way through, so maybe in the end I will understand their ways? Doubt it. But you never know.
  10. Currently reading above mentioned book, about a quarter of the way through. Anyone else read this? So far it was interesting to see some actual dollar figures placed to what portfolios of debt are sold for, and what CA's (through various tactics, including really scummy and illegal) are averaging on profit. I know that it violates their agreement with the CRA's but if I opened a CA, I would PFD all day long for these profit margins. It's not like you have to be very creative to fly under the radar with it. You can be totally compliant with FDCPA and still make a killing, even factoring
  11. ^ This. You have to know your stats inside and out. And be prepared to talk about it during a recon call
  12. Saw the scores in your signature- you aren't in Amex territory yet. You do need more revolving trade lines though. Try Barclays- if denied call and recon
  13. What are your scores and what report is that PR on? D* roughly speaking, is an Amex thing where your member since date is the account open date reported for all your cards. Say you open an Amex tomorrow, you will have a member since date of Jan 2015. Say in 5 years you decide you want another Amex, you app, are approved, you ask for the same member since date and it reports as such. It helps your average age of accounts.
  14. So, hanging out with your friends at a little party alive and healthy is just ok? It's certainly better than the alternative. I do thoroughly enjoy myself, and it's well deserved for sure. Ok may not have been the best word to use
  15. Mendelssohn is the resident Amex guru as of late and I'm sure he'll chime in. Your profile looks strong for an instant approval. Are considering adding another revolver or charge? Or maybe both to utilize the same pull?
  16. Addresses, etc and obsolete disputes are fine for the phone. Pretty much anything else you want the paper trail.
  17. Is this all just from her TU? What about EQ and EX?
  18. My birthday is a couple days before Halloween- all the years of black and orange themed birthday parties kind of ruined it for me. Do what I need to for the kids, but I'm definitely not in love with the concept of Halloween Thanksgiving I could also do without. Would rather stay home and watch football. I like Christmas well enough, though I sure hope the eight year old is done with the Santa thing. I would love nothing more than to permanently pack away that creepy damn elf that you have to move nightly. I touched that little b@stard this year because he fell over....well, in case yo
  19. Goodwill letters to the creditors. Other than that, the lates will hurt less and less over time
  20. Did you say you only make $50 per day? Is that under the table?
  21. Nothing new to report on the CFPB front, I disputed the responses of EQ and EX but nothing further. I did get another letter in the mail from the one CA with a copy of the hospital invoice from 2010. Starting to feel like the movie Groundhog Day
  22. 2014 is closing and I am happy with what I got accomplished in cleaning up- I looked at my scores today vs January for the first time in a while (it's important to remember where you started) Unfortunately, I have some pending items that will carry over into 2015, but I hope to have those resolved by 1Q. Carryovers: 2 Medical Collections reporting on EX and EQ only. Followed WhyChat HIPPA process to a T, and both EX and EQ are douching around. These are with the CFPB now, I disputed the responses of both EX and EQ, hopefully CFPB can help them see the error in their ways. 1 Coll
  23. Hit up the Cap 1 EO for a CLI at the 6 month mark. Sock drawer the rest for aging.
  24. Things that are gone: Your Honda Things that probably will be gone if the things you are ranting about turn into action: All the work you put in to improve yourself and your credit Your wifey Fact is, someone stole your car. The car isn't coming back, its probably been chopped and parted within a day of it being stolen. You need to find a way to get over this. You are stuck thinking about the past and the present, you aren't thinking enough into the future. Your decisions today will have an impact on your life going forward- and being that you are actively trying to improve your
  25. It was an old Verizon Wireless account, I found their online collections portal that was able to take my account number and zip code and accept payment. I have the payment receipt and credit card statement that shows it was paid to Verizon. I've had a real tough time with this CA. They didn't bend on CFPB complaints and their last response to my AG complaint was including "proof" they bought my debt, which was nothing more than a legal document saying that a batch of debts were sold to them, didn't list the debts invidivually. I know many here on CB have this same issue, so I didn't want t
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