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About nekom

  • Birthday 07/06/1980

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  • ICQ

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  • Location
    southwestern PA
  • Interests
    Computers, HO Scale model railroading, geocaching
  1. Now I'm no fool and neither are most of you, we all know that FP is a fee based subprime card. Now that that's out of the way, got an offer in the mail to get a new card from them. Legit chargeoff well within SOL, $400-500 something like that, strangely the letter doesn't have any dollar amounts, but it states that I can settle this debt (and it will be marked as such) and optionally roll it into a new card, the amount of settlement being the credit limit which will become available as the debt is paid down. So here are the facts of my situation: I can easily afford to do this, even PIF. I have ZERO credit cards other than another crap1 that's also charged off. Assuming that I don't mind spending a little green to build some credit, is this offer in any way beneficial to me? Seems like they'll mark the CO as settled (or PIF collection if I pay the balance) and open a new account. Better than nothing, I suppose? Good idea, bad idea?
  2. If you're looking to speed up the process, you could launch a complaint with the CFPB accusing them of threatening to foreclose (if they did make such threats) and not following through, in violation of the FDCPA (threatening to take an action they can not legally do or do not intend to do). Worked for me, though it was a vastly different situation that I won't bore you with.
  3. What state are you in? Is there equity in the house? You may be responsible for the deficiency if they foreclose and sell it. I went through the same mess in my divorce and bankruptcy was my only viable option, but your situation may be quite different. 1. No way to speed up foreclosure, and the bad news is it often takes many years. 2. Eventually the bad stuff will age off, so unless you are forced into bankruptcy all you can do is keep your other stuff in order. The bank does not care what your divorce decree says, it means nothing to them. 3. It almost never works out that way. Did you get a proper quitclaim so your name is off the deed for sure? This is a critical step in distancing yourself from the property, and if not it can come back to haunt you in a lot of ways.
  4. Thanks for the advice, all. We do have accounts with interest (company vehicles, tow motor and other equipment/machine financing), does anyone know if those rates look at D&B at all? Or just the other credit bureaus that handle business reporting? Absolutely...Larger companies tend not to focus on their credit profiles so much and only pay things on certain dates which may cause some things to report late. Of the 3 major companies we have as customers, most are pretty consistently net 30. One ALMOST always take the 1% net 10 discount we offer. I'd guess that tends to vary a lot depending on company policies. We don't report to D&B, is there any reason whatsoever to do so? Does it improve your credit to also report your customer's payment history at all?
  5. Just wondering here, TOTAL newbie to the business credit world. The company I work for is a small/medium business in a niche market that has been in business for over 40 years. I have just started to expand my scope of work into some of the accounting and I was wondering if this is something we should worry about? What's the draw to having pristine business credit? Can it really save you money somehow or is it just the convenience of being able to get credit elsewhere? We have credit lines in the thousands to tens of thousands of dollar range, from big companies like Grainger, McMaster Carr, Staples, etc. to major steel companies right down to the local hardware and auto parts stores. We get calls once in awhile from D&B for the owner (we screen those, he's not in, etc. Is that wrong?) so I assume we're listed or they want us to be. Among our customers are 3 fortune 500 companies, but we're a small outfit, about 100 employees if you include temps/staffing agency/vo tech hires. Any advice would be appreciated.
  6. if you have a checkered past, it makes it much harder for them to catch up to you down the road. it also helps dispute baddies if they're tied to an old address that is no longer associated with you. It's also important (to me at least) that under no circumstances does mail meant for me go to someone else's doorstep.
  7. Beware unintended consequences. If it's an open account and you dispute it, they may close it. If it's a closed account, the entire tradeline may disappear (happened to me) and your credit would actually be in WORSE shape than if you'd just let the late age off.
  8. Update: I got in touch with my ex and asked her if she had any interest in the property, she said she wanted it so I had an attorney draw up a quitclaim which should be filed soon. This is the final leftover mess from the divorce and I'm thrilled to be done with it. So now I wonder: The insurance proceeds were a good 10K or so short of covering the balance owed, however the paper they sent said the mortgage had been satisfied. It's IIB'd anyway, but do I have to worry about them 1099ing me?
  9. Thought I'd throw this out for discussion because I've been wondering about this for awhile now. I work for a small business in the office, so I handle a lot of various day to day stuff. Now some things are cut and dried, if we get a court order to garnish for child support, student loans or back taxes (can't garnish for anything else in my state), I know we are required to oblige and of course we do. But let's say we get a call out of the blue from so and so auto financing, so and so collections agency, etc. asking to verify employment. Are we in any way REQUIRED to do so? It takes me all of 5 seconds to look up someone's hire date so it's not a daunting task, just wondering if we have any obligation to verify that or if we even should. Any thoughts?
  10. I've always gotten mine from checks in the mail, I've got more Chex reports than I care to mention and they have NEVER reported anything. Mind you it's been over a year since I've ordered checks (rarely use them) so this may have changed.
  11. Will it help your FICO score? Not in any meaningful way. Will it help you with a manual review, where an actual human being looks at the report such as a mortgage situation? Yep.
  12. They have ANI, caller ID block doesn't block that. Get a prepaid cell phone or a Google voice number if you want to make truly anonymous calls.
  13. So for over 2 years now BOA and then SPS have been threatening foreclosure on a house that I included in BK7. I filed a complaint with the CFPB (apparently not affected by the shutdown) and today I got a response. They're releasing the lien. Not exactly what I had in mind (wanted them to foreclose already) but ok, at least I can work with this. But there are a few complications. 1. My ex-wife's name is on the title as well. To say that we are estranged would be an understatement. She has no interest in the house. 2. It's seriously fire-damaged. The ~$25K the bank was holding in insurance proceeds (their insurance) was presumably taken by them to pay some of the debt. 3. As a result of that, the city wants it repaired or torn down. 4. Somewhere in the neighborhood of 2-5K in local/school tax liens that SPS didn't pay. How it works here is for that, they place a lien on the property. SPS had been paying the county tax, which if unpaid will result in the property being auctioned in a tax sale. So what's the best course of action? Wait for it to go up in a tax sale? Try to contact one of those bottom feeder "we buy houses" people and see if they'll take a quitclaim and if they can turn a profit on it, good for them? I should be receiving notice of release of the lien in the mail soon, and I really just want this all to go away once and for all. Any advice would be much appreciated.
  14. I will escalate things until the end of time if I'm right. Have you disputed this with any of the credit bureaus? Do you have the hard copies straight from them detailing what exactly was reported?
  15. If your handwriting is legible, I don't see why not. It won't be handled any differently.

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