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creditrepair17

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  1. The general rule is that you can get a FHA loan 3 years after a foreclosure. At one point there was a 1 year program if there were extenuating circumstances, but i think that has expired. This assumes the property is for a primary residence. I'm not sure what a conventional lender would require.
  2. What happened with this? Did they get the foreclosure/possession? If not, do you have enough income to stay current on your house payments from this point forward? What does your income look like now? What are your other debts? I'm not being nosey, but there are specific reasons why I ask. Even though I will be yelled out for suggesting it, it is possible to stop a foreclosure with a chapter 13 bankruptcy filing. You would also be able to cure the default through your payment plan. You would need to have enough income to propose a plan though. And before anyone yells at me, of course, you should exhaust all other options first, but this is certainly a "nuclear option" that could help if the case was continued. The automatic stay would mean that the foreclosure would stop. If you could propose a confirmable plan, the judge wouldn't lift the automatic stay to allow the foreclosure. Just my 2c.
  3. P.S. Settling is your best bet. Both Discover and Capital One are litigious and will likely sue you. I have seen Capital One sue for amounts as low as $50. A judgment will wreck your credit report for seven years, so time is of the essence. Generally, after six months of default, your odds of being sued increase significantly.
  4. You have several issues here. First, the student loans will not go away in bankruptcy save in very rare circumstances. Other than that, you appear to have only about $3800 of unsecured debt (if I added correctly and didn't miss any numbers). I would first try to rehabilitate the student loan. I know with a federal loan, when you complete the rehabilitation process, it is my understanding that it would disappear from your credit report. I do not know if there is something analogous with private student loans, but I would see if there is a way to rehabilitate it. This alone could be a major issue with GradPLUS loans (I assume that is what you are asking about). As for the other $3800 in unsecured debts, I would try to settle the debt and have statements that you settled the debt. This is useful in combating problems with having an "adverse credit history" for purposes of GradPLUS student loans. If I am understanding your situation accurately, I do not think bankruptcy is going to help you much and may make things worse. Edit: Typos
  5. Be careful, some states have different (and longer) statutes of limitations for mortgages than other general contracts. In some states, the lender could get a deficiency judgment against you and in some states, it isn't possible. It would be best for you to seek legal counsel and explore your options. Have you tried sending the mortgage company a letter with the court order and deed transferring title, and seeing if there is anything the mortgage company would do for you? It is a very, very long shot shot, but it is worth a try.
  6. If the SOL is 4 years, then I don't think you are past it yet. If date of last payment is Sept or Oct 2014, then you have another 18 months to go. I would just focus on generic credit bureaus disputes for now. Jack Attack. Although the amount is small enough at $1,300 that it is highly unlikely that they will sue you over the issue. Just be aware about poking the OC before the SOL. Thank you!! Jack attack it is! I would be careful about poking a sleeping bear. If Merrick wasn't going to sue you, it might do so. You may be better off trying to pay for deletion or settling the account on this one.
  7. Also note that the DOFD (date of first delinquency) may not be reliable for statute of limitations purposes. For instance, if you make a payment after the DOFD but still never become current, the DOFD may not change, but depending on state law you may have reset the statute of limitations for purposes of suing on the underlying debt.
  8. P.S. The Fair Debt Collection Practices Act doesn't apply to Merrick (the original creditor).
  9. Do you really owe the money or is it identity theft? If it is legitimate I think you will tick them off, and it may provoke a lawsuit if the debt isn't time barred. If not, I wouldn't bother citing the FCRA yet. I would complete a police report and fraud affidavit and mail it to Merrick along with a letter that states that you are a victim of identity theft. If Merrick refuses, then yes I would cite all of the law under the FCRA which has a special procedure for victims of identity theft. In this scenario, you would mail your dispute to the credit bureau and send the affidavit and police report that I described. Maybe it is just me, but I think the way you wrote the letter makes you come off as defensive and like you are trying to game the system, but that is just my personal opinion. Try something like: Dear Merrick: I have recently received a copy of my credit report. The Equifax report had an account listed from your company as a credit card. I disputed the account with the credit bureau as not being mine, but it recently came back as verified. I am writing this letter to you in an effort to get this removed. Please delete your information from my credit reports. I have never had an account with your company. If someone has opened an account in my name, please close it immediately before further harm is done. Please find enclosed a fraud affidavit and a police report evidencing that I am a victim of identity theft. Very truly yours, XXXX
  10. Tell the Sr people that you recorded the conversation of the lady claiming a 120 day late and plan to submit the recording as evidence during arbitration. CapOne restricted my Spark last year and kept referencing an old account with late payments in 2007. When you're a bad boy, they find all your old dirt. Arbitration? What are you going to arbitrate? There is no requirement that Crapital One do business with you even though it is a poor customer service and public relations move.
  11. I don't see how LVNV can get away with showing it as a newly opened account. It makes it appear that you recently defaulted on a debt. File a complaint with the Consumer Financial Protection Bureau and see what happens. I don't foresee them putting up much of a fight for a $600 account.
  12. Yes, it is affecting your credit. If this is your only charge-off, you might try to settle to see if they will delete the tradeline. If you have several other charge-offs and no assets, bankruptcy may be worthwhile.
  13. If the charge-off is still listed as $624 on your credit report and you can prove that you paid that much (with a canceled check for instance), why not submit documentation to the lender to see if it will work? As for the letter, they legally are free to tell you to go away and give you nothing. Of course, you also need to check with a Texas lawyer to make sure that you didn't accidentally reset the clock on the statute of limitations. As long as the charge-off is less than seven years old, they can continue to report the negative information. Disputing it at this point could cause more problems if they update the trade line to reflect the $2,200.
  14. If you lose, you may be on the hook for the fees if an exception to the American Rule is pleaded and proved.

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