I've read various different scenerio's but have been unable to find the answer to my specific dilemma, and I'm slowly driving myself nuts. Wife and I applied for a mortgage loan. A full factual was pulled last week, within 12 hours Capital One reinserted an account which I thought was charged off on 10/ 1996 to Ex. Coincidence? Anyway, what the heck gives here? Iâ??ve managed to hold onto all of my delinquent bills of seven years ago. I knew the ship was sinking and almost filed bk7 back then. THE FACTS: The account is originally Citibank, and my final balance is due now notice came in the Summer of 1996. I received a collection letter from Capital Credit aka Capital One, October of 1996. My subsequent TU credit report states it was reported as a charge off from Citibank in October of 1996. It dropped off about a year ago, and then whamo reinsert as Capital One and reage on TU in November (successfully disputed off of TU) and brand new entry in December EX with a charge off date of December 2003! Iâ??ve disputed the EX but Iâ??ve got like way to much time for my comfort to wait and have heard horror stories of their investigative results. MY QUESTION: How do I do the math? Does it fall under the old FCRA rules, or has the amended FCRA which went into effect in 1998 grandfathered these older accounts in? Iâ??ve looked at many postings and am quite thoroughly confused now. By my math it shouldnâ??t be their at all since October of this year if I use the old FCRA rules! And how do I know the charge off date isnâ??t really 2003, and theyâ??re applying the rules that the new FCRA fixed by waiting till the end in order to reage? Iâ??m so numb right now! Not to mention a phone call I placed with a promised 40% settlement amount that landed a hard inquiry on my EX credit report. I sure didn't give them explicit permission to do that, was my call implicit? It says for collection purposes on the hard inq. My score has dropped 41 points, in the last seven days! Iâ??m almost willing to just pay the settlement amount to be rid of this extortionist bu11$h-T, of course theyâ??ve given me just 24 hours to accept the offer. I'm not sure I have a basis to play hard ball here, or if I even want to... do I just pay so we can move forward with the mortgage app sooner?
WITH THE MORTGAGE ON THE LINE... Pay the 40%...AND demand removal of the HARD......AND the trade line......AND have them promise in writing that they will NOT sell...give...trade...barter...or other-wise transfer the residual 60%...now or any time in the future. (NOT AN EXPERT IN "BADDIES")
Have you lived in the same state since then? Which states have you lived in? Also what is the longest time frame you can deal with it? This has way to much to deal with in a very short amount of time to really burn these people hard that are involved if what you are saying is true on the dates listed. I don't have the time or knowledge to steer you in the right direction of steps. But I feel your pain though. Don't pay a cent if it is past SOL! HELP!!!!!!!!!!!
They haven't asked about it yet, it popped after the initial pull and wasn't appearing on the tri merge I think the company was called Full Factual that pulled it. Pay the settlement, or wait the remaining three weeks to see what happens with the dispute. I've considered mailing my last billing statement dated summer of 1996, and a collection letter dated October of 1996 to help Experian see what I see. My primary concern is not blowing the mortgage deal. At some point they will see it and consider it especially if it shows a charge off date of December 2003!$#@ ughhhrrr. Will disputing it off help more, or will settling it w/ a paid settlement TL on my report at which point I dispute it off for all of the above reasons?
A "Full Factual Credit Report" is one that the CRA swears is at least 25% correct as opposed to their usual contempt for accuracy and 10% accuracy. They also offer a "Full Factual No Shit We Really Mean It True Stuff" credit report that is 50% accurate. Their "Holy Cow This One's the Real McCoy on a Stack of Bibles" credit report that is at least 75% accurate. Unfortunately, 100% accuracy is impossible with the procedures the CRA's use.
Re: Re: Capital One Hard Inq & Reaging I'M STILL WORKING ON 100% ACCURATE AFTER 20+ YEARS...AND I NEVER HAD A "BADDIE"
Re: Re: Capital One Hard Inq & Reaging Soooo do they care less about SOL if they SEE it, or do they really pull the entire history and factor in the early 20's mistakes that now no longer show cause I'm finally grownup and a contributing member of society? e.g. bottomfeeder flags my report because a mortgage co. pulls it, decides this is a good time to say ignore the LAW, and walk over a common citizen in an attempt to extort money and reinsert an item past the SOL vs. this is a mortgage app, and it's over 150k so they can go completely back anyway? Do they really go back past seven years, or is this just a trigger point for a CA to reinsert an item. Pay the bribe, or dispute it in hopes that it stops appearing? I'd rather pay it if disputing it is akin to just burying my head in the sand. But if I do that, I should just give up right now, because EVERY last one of my baddies from my youth will technically be seen anyway and I'm obviously not independtly wealthy, have a finite income and can't pay 'em all so why even try? What's the FCRA stand for again? Fecal Collection Receptacle Assembly is what I'm beginning to think. ghurrrr
Re: Re: Re: Capital One Hard Inq & Not that hard to apply for a mortgage over $150k. I know there's something about it being on your CR forever, but I'm wondering why you ask.
Capital One Hard Inq & Exactly why I asked, especially since the OP said "Full Factual Report" made me wonder... (b) Exempted cases. The provisions of subsection (a) of this section are not applicable in the case of any consumer credit report to be used in connection with (1) a credit transaction involving, or which may reasonably be expected to involve, a principal amount of $150,000 or more; That's why it is always better to get stuff deleted, as opposed to letting it fall off
Capital One Hard Inq & Understand. Real world how does that section of the FCRA (please see my new definition above) really work? I've got some baddies that have fallen off vs disputed off. Are we going to have to move to Texas and pick up a mansion for just under $150k, or can we really believe that we will get into a home (again no mansion, just higher cost of livin') over that amount? Better to rain on my parade now than have the lender do it later.
Capital One Hard Inq & k, what does the slang term, "bump" refer to when posting? Hijack is kinda self explanatory, but bump has me amiss. I believe what I actually saw was a tri-merge vs. an actual full factual report, because it looked identical to MY consumer reports. The company name that pulled it was called Full Factual. And even more to add now Cap One has gone and added a hard inquiry to my report vs a soft inquiry! I need a step by step strategy, ughhhhh I'm beginning to feel like I'm losing the battle, having watched my EX score drop soooo many points sooooo quick. (For the record yes I'm still whining)
Capital One Hard Inq & Okay I've disputed off of both Experian, and TransUnion now. Is it time to play hardball and send them a rude reinsert letter stating that the next time they do it, I will consider it to be extortion and or fraud? Or do I let sleeping dogâ??s lye, and wait for them to also hit Equifax and dispute it off? I really wanna send â??em a reinsert letter, but donâ??t wanna stir the pot to much. They havenâ??t hit Equifax yet, and I have all of the original billings, and collection letters. They hit TransUnion first, then as soon as disputed it off their, they hit Experian almost like a beacon! (Pun Intended) On another note how the heck do I get the hard inquiry off of Experian now?
Capital One Hard Inq & Reage fyi I've just learned that I successfully disputed this item off! Using the SOL letter from WhyChats website worked! Not only that, but I was able to remove a non-permissable purpose inquiry as well. Per the advice here and at creditboards.com I've already filed a complaint with the FTC, and state AG. I'm now in contact with an attorney for williful non-compliance damages, if any i.e. the reason i'm in contact with an attorney is to determine if I really do ;-) Thanks again all, and Happy New Year!
