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CreditSucksNot

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  1. The first thing to understand in your rebuilding and repair process is that the charged off status is an accounting term and has no bearing on your legal obligation to pay the debt. The tax write off is not a defense if they sue you and they WILL sue you. You should look in to settling the debts to avoid being sued but understand that AMEX and Cap1 are 2 of the top aggressive litigators if you don't reach an agreement and they do NOT do PFD. Given that it has been a year since the debts were charged off and that the courts are coming out of the covidiocy and getting rolling again I would pu
  2. One suggestion you won't like: stop splitting hairs in an attempt to get what you want. Whether you use the term "challenge" vs. "dispute" makes no difference to the credit bureaus. It is the same thing as far as they are concerned. If you have disputed "many many times" already then you essentially cemented them to your report until the bitter end of the 7 year 6 month reporting period. NFCU is notoriously tenacious. Especially when their only weapon left is reporting to the bureaus.
  3. Yes, the attorney very much has a choice. There is no legal basis that compels him/her to accept the settlement terms you offer. They can only offer the ones that their client agrees to. Most attorneys find out exactly under what terms the client will settle so that they can avoid the back and forth should this come up. There is another reason that he cannot accept a lower amount: you used insurance benefits. You are legally responsible via the insurance contract and financial guarantee you signed for your out of pocket expenses as detailed on your EOB statements. The provi
  4. You aren't screwed but you clearly have work to do. If you start a post with the details you can get targeted advice for cleaning up the issues.
  5. To start: I don't know why you are paying them for credit monitoring when you can get a free credit report weekly from annualcreditreports.com through next April. ANY score they give you is a FAKO and not reliable. You need to pull paper copies of your report(s) and see exactly what is on them before you can determine where you scores might really reside.
  6. Correction: it is the October Statement that notified of the change. The change took effect in November. You are right. I just remember it was in the fall.
  7. Go back and look at your November 2020 statement. That is when Cap1 notified all card holders that they were changing how statements closed out going forward. It used to be statements closed out exactly 3 days after the payment due date. For what ever reasons they changed over to a 25 days from when your next payment is due closing date. So to determine when your statement will close each month you have to count 25 days back from next month. My payment is due on the 15th of each month. 19 days back from March 15th means my statement for February will drop the 19th this Friday.
  8. This is the designator that creditors have been using during the covidiocy "crisis" to indicate an account is affected by it. Some creditors slapped this on ALL accounts across the board. Well one of mine did anyway. I had this issue with my lender on my previous car loan. First update May last year suddenly my score took a hit because they coded my loan that way. Never mind that I NEVER asked for any kind of assistance at all and was always paying MORE than the minimum payment each month. I called and wrote a scathing letter and got it removed. They were my ONLY creditor that did that
  9. In addition to everything that has already been said there is one other option to look at given the age of the car. Once you get several reliable appraisals as to what the vehicle is actually worth (loan balance aside) it may be advantageous to trade it in for another reason. When I traded mine they gave me what I wanted for it because due to age (and a crack in the windshield) it was not going to be cleaned up but sent to auction. Many dealers have a policy that if the vehicle is going to auction and you are doing a solid purchase from them to simply give you what you want for the trade i
  10. That may be the reason they gave you but it isn't the actual reason they said no. That is the loop hole that creditors can exploit. They are required to give a reason for denial. "Too many inquiries" is the catch all denial that consumers cannot openly challenge for being inaccurate. Especially since it is subjective and they get to decide what is "too much." Nothing in the adverse action regulations require they tell you all the reasons (though some do give a list) or their real reason for denial. **Edited to add: in the age of covidiocy that may be the reason they denied both
  11. The law is not retro-active though. If the loan pre-dates the law then the interest rate while egregious is still legal. That usury interest rate is why many states ban payday loans. It sets the consumer up for a debt cycle they cannot escape.
  12. From a mortgage perspective it does not have to be reporting for the lender and under writers to find the lien. If you can pay in cash sure. How big is this lien? If it is a significant sum that you have to pay on for several years then the chances that a lender will under write the mortgage with an IRS lien being attached soon after closing are slim to none.
  13. SIGH. I knew that. FYI: If it is reporting as a "factoring company" it is not a collection agency. The debt is likely sold to a junk debt buyer. WHICH JDB is reporting?
  14. Who is "them"? Who is the original creditor? When did you default on the debt with the OC?
  15. Once they have sued it is WAY too late to do debt validation. They are free to ignore the DV letter. All your communication needs to be with the lawyer and/or in court. The days of that happening are long over. This usually worked during the years 2008-2011 but now the big junk debt buyers like Midland do not fall in to that trap. As I said before once they sued you and tried to serve the window for DV was slammed shut. Yes, you can arrange a date/time to be served.
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