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Everything posted by centex

  1. AS I recall, consolidation was not driven by income. It just created a new note. The only people I know who went through rehab on a student loan did the six months of payments and then consolidated away to someone like Nelnet. The old loan fell off the reports at some point in time but the derogatory reporting went away at the end of the rehab.
  2. 1) How did they inform YOU of anything? They should only be in communication with the cardholder. 2) Easiest way to add people as an AU is typically online. 2a) You are not seeking to be added as an AU, but rather as a JOINT cardholder, which necessarily means you have to be creditworthy as you are being added in a capacity that leaves you responsible for the entirety of the account.
  3. Unless you have a major purchase in the next six months, I would highly recommend the rehab route which would then also allow you to consolidate elsewhere while the old TL(s) fall off due to completion of the rehab process.
  4. LOL...I still remember feeling good about the deal I got on a new Mustang LX5.0 coupe almost 32 years ago...brand new, manual transmission and, better yet, the no-cost optional rear axle ratio that shaved fractions of a second off of quarter-mile times. TT&L put me at $11.3K drive-out with a signature on a faxed Loan Liner from the credit union. They actually had two of them on the lot, but the first choice came back over a weekend with an extra 300 miles on the clock. So I went for Door #2 and took the one with roughly a hundred miles. That one was actually my third vehicle (fourth if you included a hand-me-down war wagon that the parents spec'ed new in '72), but the first NEW one for me. The car got sold about a decade later with nearly 400K on the clock. I like my specialty vehicles but only when I can get them at the right price...no way would I have gotten the F-Type had I not been offered more than $30K off of MSRP. Ditto even the Spider...I didn't NEED another car, but once I won the haggle battle, I was content to take it home. Ironically, while vehicles are a rapidly depreciating asset, these crazy times have made that one a far better performer if I were to sell it than any of my stock holdings or retirement accounts...
  5. Modern forensics are generally pretty good at discerning what has been in water and for how long...
  6. Not being familiar with your jurisdiction, I offer no guidance in that regard. Hence my comment about 'appropriate manner.' The Clerk should be able to advise you if a hearing is needing in the State Court with an Order issuing. This is ALSO why I suggested your attorney be involved in the resolution. They KNOW the jurisdiction.
  7. You or your attorney needs to ensure that a copy of the Discharge Order has been filed in an appropriate manner with the Clerk or whichever other office maintains judgments in your jurisdiction.
  8. One letter is hardly 'going back and forth.' And if there WAS a need for a second, it would, in all likelihood, be the last one. For me, the fifteen minutes that MIGHT be invested plus less than eight bucks in postage is well worth the preservation of rights.
  9. No worries. I don't mind explaining the rationale...and for someone who has been around here as long as you have, you already know how much disdain I have for standard cut-and-paste letters And, you ALSO know that I tend to approach matters from outside of the usual box...which ALSO plays into how I would approach a matter like this. I also occasionally like watching my cats when they play with a catnip mouse and I like to think of my letter writing as bring as much joy as they get out of batting that little lump of catnip and stuffing around for a while. Then, after a while, the task is done and I move to other things...just like the cats...
  10. I won't say it absolutely precludes a sale, but where a successive purchaser acquires paper and the debtor can show they had previously disputed, my experience is the matter goes away very quickly. The next in line rarely gets a full file with correspondence, so when confronted with a copy of a letter and the green card from some date prior to the purchase tends to make them quickly lose interest and move on to the next sucker...err, defaulted account. I am not a fan of litigation on these sorts of things, but I AM a huge fan of setting the table. Being thorough can go a long ways towards making people go away. And in the interim, the table was set and notice given. When I set a table, it does not concern me that they know my thoughts on the matter...I know I am going to prevail if they REALLY want to get into the trenches. A well-written letter resolves MANY matters very easily and neatly...
  11. The reality is that interest rates ARE going up. It would be disingenuous, even in the 'rona climate, for a lender to give a modified rate that was below market averages. Further, they already gave a break by allowing 'modifications' to occur rather than simply adding the property to the list to foreclose as soon as the moratoriums wree finally dead and stinking. While it is understood that some lacked the resources to get through a period of 'rona unscathed, at some point in time, priorities HAVE to be evaluated. For MOST people, that is keeping the roof over their head, credit cards be damned. Also, do not be surprised if you see higher property taxes in the next appraisal cycle...many jurisdictions are re-evaluating property valuations to cover the expenses of poor fiscal management at the city/county/school levels. Worse are the school districts that are trying to get new bond measures passed to coat-tail on the helicoptered funds that were mismanaged. Your current $100 break may not last long...
  12. It isn't about 'undue risk' It about preservation of certain rights. The generic cut-and-paste FOAD that many use does nothing to place the matter into a disputed status. The entire point of disputing the issue is that it opens the door to a fairly easy go-away if someone else acquires the paper PRECISELY because the current holder has been placed on notice that the matter was disputed. Even in this era of easy data storage, the current holder likely lacks little more than the line-item data. That said, validation is a very low bar to satisfy and the letters people were using 20 years ago (and unfortunately, some still use today) are a damned joke. They demand far more than is necessary even under a discovery standard in litigation. We also cannot rule out, at this juncture, that there COULD be a default judgment that OP was seeing people coming around for...this is based on their older threads from a decade ago where it appears litigation was actually going on with some other paper.
  13. See the questions I posed to the OP and that were never answered. Due diligence will be your friend. In this day and age, it is NOT difficult to track the history of a financial services entity...
  14. Your post is confusing. Initially, you titled it asking IF it was validation. However, in the post itself, you claim this was the initial communication and ask whether you should seek validation. The letter shows it as Chiti private label, which in that era was probably something like Home Depot or Sears. However, it also claims that the balance was as of a date more than a decade ago. That presumptively places it beyond a statute of limitations for litigation and is likely too old to be reported in any capacity even if it was reduced to a judgment somewhere along the line. That said...rather than a simple FOAD, I would tailor something that outlines that 1) you don't recognize the claim and that 2) it appears to be outside the scope of a limitations period. As such, you are disputing in its entirely the claim and their ability to dun you further. The reason that I (and a few others) will recommend preserving the dispute in writing is so that you have a fallback if they either DID try to litigate at this late date OR, alternately, sold the paper off to yet another purchaser. It preserves your rights as related to continued collections. IF they even bother to reply, and it confirmed there was no outstanding default judgment and that it was, in fact, outside the limitations window, THEN send a FOAD.
  15. They would have no attorney fees or court costs. Felony charges are prosecuted by the State.
  16. WHEN was the purchase made? Was this an aftermarket warranty given the reference to 125K miles? I have not seen a factory warranty in MANY years that would have covered a vehicle beyond 100K miles, but there are some aftermarket warranties that CLAIM to do so but put the service managers through hell to get them to pay out... A recall is a recall. If the item is covered then there should be no out-of-pocket to the owner. The problem is if the item was allowed to get to the point of damaging other components, and then it becomes an issue more aligned with how much the service department will go to bat for someone who was not the original owner. As to selling a vehicle, she can sell it herself if she is not upside down. Otherwise, she will have to pay the difference almost immediately so that the title can be transferred. If she has enough credit to get a loan on a trade-related purchase, then they can roll any upside down amount into the new loan...but she may not like the terms. I have no idea what she still owes or what a decade-old Durango is going for currently...
  17. That potential charge-back situation is easily remedied by filing the appropriate felony charge...
  18. This thread is the perfect reminder of why people should GET credit when the getting is easy and NOT when the financial climate is clearly on the downhill portion of the roller coaster ride. The economy sucks. As a result, banks are tightening the purse strings. And setting aside that score has NEVER been the primary driver, it is going to be even LESS of a factor now that more and more people know how to game the system for higher scores. I actually welcome a return to the days of prudent underwriting, where capacity and collateral actually matter.
  19. It can be viewed by disabling the Javascript... Right click and then Inspect Accessibility Properties Click the three dots and then click Settings Disable Javascript by checking the box Voila...you should then have an article to read.
  20. Meanwhile, the dealership that I got the Spider at is offering to buy it back for roughly what they had it listed at (which was ~4K more than I paid a year ago. Have to admit that getting back more than $21K on a four-year-old FIAT is tempting...so there is definitely still some craziness out there.
  21. The days of easy credit are waning. Score and assets are not the absolute be-all, end-all they once were. It is just a sign of the times. What reasons were cited in the denial? Therein rests the answer...
  22. One of the best theme songs...ever!
  23. centex


    I've had an 850 on the 850 models, but still chasing a 900 on the models using the 900-point scale.
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