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It is useful to know your state's phone recording (and other recording) laws, and learn the difference between 1-party (requires just your consent to record) and 2-party (requires both+ consent to record). Know that if you are in one state that may be 1-party, but you are on the phone with someone in a 2-party state, you have to err on the side of 2-party recording laws.

 

All that said, avoid, avoid, avoid speaking on the phone with Collection Agencies and Junk Debt Buyers.

If the other end says that 'this call may be recorded (for any number of possible reasons)', then you may record. Even if in a two party state.

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If you have medical collections on your credit report tackle them all first before you dispute anything else, or finish all your disputes on other things first and tackle your medical collections last. Before you do anything with your medical collections at all (especially before you pay them) do a search for "Whychat hippa process"

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Overall utilization (the sum of your current balances divided by the sum of your credit limits) affects your credit score--but they look at *individual* (per card) utilization as well. So if you have that one card that's really maxed out, focus your efforts on paying it down--if everything else is at relatively low utilization, this will give your score a good boost.

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Mortgage companies don't give a d@mn about divorce decrees. Remember this if you're going through, contemplating getting, or just finalized.

 

If your divorce attorney states by signing a quitclaim on the house and handing over to your ex-spouse relieves you of financial responsibility for said house, YOUR ATTORNEY IS 100% WRONG!!

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You and your divorce attorney should push for one of two things: 1. Ex-spouse must refinance marital home into their name only at time of finalization, if ex-spouse doesn't qualify to refinance into their own name only then 2. Force a sale of the marital home and split the proceeds. If your home is underwater on its mortgage then you'll need to come up with a plan to split making up the difference prior to closing.

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IF -- IF neither refinance nor sale of the home are agreed to then you will be responsible for making the mortgage payments yourself if the ex-spouse does not - which happens more times than not. DO NOT SIGN A QUITCLAIM as you will be forced to make payments on a home you have no rights to.

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NEVER LET EMOTIONS GET IN THE WAY OF FINANCES DURING A SEPARATION/DIVORCE!

 

You'll be paying dearly for many, many years afterward. Trust us. Many of us here have been there.

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FAKO - A credit score that is not generated by a formula licensed by Fair Issac & Co. is known as a FAKO credit score. A consumer credit score created by Experian called "PLUS" is an example of a FAKO credit score, also the credit score generated by Capital One "Credit Tracker" is a FAKO.

 

In recent years the CRAs attempted to muscle in on Fair Issac's credit scoring monopoly by creating a credit scoring formula known as Vantage Score. It's hardly utilized by creditors and for all practical purposes goes into the category of FAKO.

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NEVER LET EMOTIONS GET IN THE WAY OF FINANCES DURING A SEPARATION/DIVORCE!

 

You'll be paying dearly for many, many years afterward. Trust us. Many of us here have been there.

Do you really expect people to actually listen to this advice?

Edited by pwd847

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NEVER LET EMOTIONS GET IN THE WAY OF FINANCES DURING A SEPARATION/DIVORCE!

 

You'll be paying dearly for many, many years afterward. Trust us. Many of us here have been there.

Do you really expect people to actually listen to this advice?

Not really. Then they end up here wondering why the so-called "iron clad decree" their divorce attorney devised isn't hardly worth the paper its written on when it comes to debts and mortgages.

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NEVER LET EMOTIONS GET IN THE WAY OF FINANCES DURING A SEPARATION/DIVORCE!

 

You'll be paying dearly for many, many years afterward. Trust us. Many of us here have been there.

Do you really expect people to actually listen to this advice?

Not really. Then they end up here wondering why the so-called "iron clad decree" their divorce attorney devised isn't hardly worth the paper its written on when it comes to debts and mortgages.

 

You are smart.

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Texas's SOL on credit cards is 4 years. If you're close to the 4 year mark, it may make more sense to wait it out and go radio silent. By that, I mean do not open any new accounts, send out DVs, or do anything to draw the attention of creditors.

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Don't know if it was mentioned yet, but don't go solely by credit card recommendations of sites such as Credit Karma, cardmatch.com, creditsesame, etc....

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to keep utilization ratio low, phone your CC's to deter in what the closing date is, which is not the statement date. Pay your CC in full before closing date and leave one card with a $1.00 or s, balance.

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Just because you have a Amazing FICO (740-750+) doesn't make you a Perfect Borrower in a Banks Eye. Expect trouble getting a auto-loan if you've never had any installment accounts listed on your credit report.

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When it's inappropriate to tell someone:

 

the cold hard truth,

 

a valid opinion,

 

facts,

 

a joke,

 

asking someone how their day was,

 

telling them xx number of reasons why they shouldn't have opened that card,

 

just say....

 

C O N G R A T S ! ! ! ! ! ! ! ! ! ! !

 

(Congrats does not offend nor discriminate and is therefore the best response.)

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(Congrats does not offend nor discriminate and is therefore the best response.)

Unless it is pwd847's thread!

Edited by dilligaf

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