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  1. Thank you Why Chat and ICANHASMUNY for your imput! I will update with my progress!
  2. Last year I had some lab work ordered by a doctor from Lab Corp, and was sent a bill that the charges weren't covered by Insurance. A phone call with the insurance company revealed discrepancies in the Medical Billing and Coding caused the charges. I kept getting letters from LCA which is Lab Corps in house collection agency. Well now, Lab Corp sold the account to American Medical Collection Agency and they are requesting payment of $451.21 before carrying out threats of reporting to the CRA's. I'm curious as to what my options are since the account is no longer with the OC, and the amount that the OC originally demanded may not have been accurate. Since it has been over a year since the claim was filed with Lab Corp(OC), do I have any hope of working with them , or should I just deal with the CA at this point and send them a DV letter?
  3. Does anyone know the formula for calculating how much one really pays when charging something on a credit card and only paying the minimum balance. I know there are tons of calculators out there, but I would like to understand the calculations for myself. For instance: A sofa is on "sale" for $949 and you can take it home for "only" $54.51 per month. The interest rate is 31.5%. The total amount one would pay for the sofa is $1722.22 over 23 months. And they are charged $773.22 interest. My questions are how did they get $1722.22 as the total amount? How do you know it will take 23 months to pay? And how did they find out the interest amount? Math is not my area, but I really want to understand how this works. I vaguely remember amortization tables from college but my memory is all fogged up! Can someone please break this down for me.
  4. Hello Everyone, I have a bit of a situation that I feel I can recover from with some tips in the right direction. I currently have a credit card with citibank that I have had since 2003. In 2005, I allowed my father to charge a laptop on the card. Initially he was making payments on the card and everything was fine. I was still in college at the time and he said he would take care of it until it was paid off. The short version of the story is, he lied about making payments and now the card is overdue and over limit, 30% interest rate . I worked hard to build my credit with this card (going from $300 limit, to $1200) but I had to learn a hard lesson that family and finances don't mix, even if you are trying to help a parent out. I'd really like to come up with a plan to restore my credit . I've spoken to citibank on several occasions and they've said that they only way to reduce the interest rate is to close the account. Finance charges are accruing like crazy b/c my dad can't pay the bill. I plan on selling the computer to get some money to at least get the account up to date (the current value on the computer is about $300 and the balance on the card is $1222). However, it seems like even if the account is brought current, the interest rate will never go down. Also I have another CC from citibank, that was charged off and I have a lawsuit, but I had the funds at that time to hire an attorney and we are fighting the CA. I do not want another lawsuit from a credit card. This time, I am trying to prevent that from happening I need to do some research on balance transfers, and get an understanding of how that works, but would that be an option for me? Should I try to get another credit card to transfer the balance and get a lower interest rate? Thankfully I found full time employment recently, so I can afford to start taking care of this problem myself, but I'm just not sure where to start. I've seen credit unions recommended on here, but I'm not sure how that would benefit me. I know I have a ton of research to do, but if I could get a nudge in the right direction, i would be eternally grateful, CB family . My mother is actually facing the same situation with a CC being overdue and overlimit (Crap1) (again thanks to my dad!), and I am trying to help us both repair our finance. Thanks in advance. I had one other credit card with them previously, that I got in college. (charged off, and sued by Calvery- But at that time, I had the money to hire an attorney so I'm working on that situation)
  5. I've seen tons of horror stories online from complaints about Indymac from their mortgage customers. Any CB folk have trouble with them?
  6. I just have one question in all of this: How does this seizure affect ppl who had mortgages with indymac?
  7. Sorry for the confusion, but what does that mean?
  8. how does this affect ppl who had mortgages with indymac?
  9. I know there is at least one out there!
  10. Has anyone successfully had a garnishment removed once granted (meaning money was taken out of your check or account)?
  11. I spoke to my recruiter about it, and she told me they would let me know if it was an issue. I kept checking my reports but I never saw any recent inquiries...and of course I was all nervous. I had one major baddie (Collection from stupid calvary) and two medicals (recently deleted from Ex and TU) But they liked me (they really liked me-in my best sally field voice LOL) so I'm in Now I can finally start to pay Aunt Sally back for that expensive piece of paper called a degree-
  12. I am interested in the answer to this one also. Swoosh when you got the letter from the OC saying that the account was going to collections,how soon did you respond and remit payment (if you don't mindme asking)? Also has the CA started reporting on your CRs just yet?
  13. I figured as much, but ya can't blame a girl for trying--- The letter came from a CA lawyer representing the CA, but that's not full legal action just yet. So I took that part out of my letter...what I am trying to do is build a paper trail in case they do come after me with a lawsuit. My poor mom had recently had a judgment granted against her, so I am trying to get ready to fight the CA if it comes to blows. Besides, if it does go to court, I am curious as to how they are going to explain to a judge how a debt charged off at around $3,000 ballooned to the $5000 they claimed I owed in dunning letters This is the 2nd dv letter I'm sending to the lawyer. Whenever the CA decides to DV, I'm sending them a copy too. : I am in receipt of your recent communication. As you are well aware, what you sent does not constitute validation. On xx/xx/xx, I requested FULL validation from your organization. To date, you have failed to provide the requested documentation. An account number alone is not sufficient proof of any debt owed to your client. As such, it is reasonable for me to assume that no such documentation exists. In the spirit of goodwill, I will allow you an additional 15 days in which to obtain the required documentation and forward it to me in accordance with the laws which govern your chosen industry. Please send me a statement of accounting of the alleged debt your client says I owe, detailing exactly how your client arrived at their alleged claim amount down to the penny. The statement of account needs to be supported by copies of the statements from the original creditor detailing the dollar amount your client is attempting to collect. I am also requesting as a copy of a contract I signed with the original creditor proving there is indeed a debt owed. Either produce FULL validation within 15 days, or delete the erroneous item from my credit reports and close this alleged account in your office, as well as never sell, give, transfer, or otherwise communicate any information regarding this alleged account to anyone whatsoever. Phone calls at any time or place are inconvenient to me Any critiques?

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