@LoanQueen you said you are looking for loans of $2500 or more. This is why I got tired of my toy cc's, and opened up a us bank secured for $3000. But I was wondering...because I sometimes advise people...where'd ya get the figure $2500...is a it a rule of thumb used by many? I told them the toy cc's barely count, cause you need at least $1000 or more, or on a manual review, many will ignore the cl....is $1000 way too low still? sorry for getting off track, but I'm trying to develop some useful ideas for rebuilding credit, and I tend to think getting a secured card from a prime bank, is less costly and better suited to rebuilding credit, than an orchard bank or aspire/centennial...type of toy card. thoughts?
Lenders don't care if it's a "subprime" company. If you have never owned a home most lenders (there ARE exceptions) want at least one line over $2,500 and 24 months history. Car loan can fulfill this...doesn't need to be a credit card. Got it? CC's need to be a minimum of $1,000 and preferably 2.
thanks for the info. I always recommend prime banks, because one of the factors in a credit score, as you mentioned is longevity of accounts...at least 2 years, etc. subprime accounts are the type of accounts people want to cancel because of high APR's or high fee's, but they cannot if they don't have older accounts remaining. best to go with a prime bank, as you can keep that account forever, and as your credit improves it can be converted to the lower APR or no annual fee account, without losing the history on the account. subprime people just have to close the account and open a new account with a new number and new history. anyway....I digress, but I do appreciate your answer. more reason not to get a toy card with its 200 or 300 cl.
thanks for the info. I always recommend prime banks, because one of the factors in a credit score, as you mentioned is longevity of accounts...at least 2 years, etc. subprime accounts are the type of accounts people want to cancel because of high APR's or high fee's, but they cannot if they don't have older accounts remaining. best to go with a prime bank, as you can keep that account forever, and as your credit improves it can be converted to the lower APR or no annual fee account, without losing the history on the account. subprime people just have to close the account and open a new account with a new number at a new bank, when they get out of subprime status...cause most subprime vendors don't offer any prime carsd anyway....I digress, but I do appreciate your answer. more reason not to get a toy card with its 200 or 300 cl.
Yes, if you go for jury trial you can ask for lawyer's fees. You may get someone to take it on contingency if, as I mentioned previously, you are suing or countersuing for things like mental anguish, etc. That's where the money is. As Loan Queen said, to get a lien they'll have to get a judgment. Now we're back to they HAVE to sue you, and they'll have to prove it. We discussed this. If they put something on your credit report without suing you, as she said, you ask for validation. When you start going after them for REAL validation, it will probably be removed. That what many people are doing here--getting negative items removed. Just because they put something there doesn't mean it stays. Besides, they'll probably commit violations in this process and end up paying YOU. That will be a small claims action and you won't need lawyer fees. Relax and forget about this (I mean FORGET--put it out of your mind) until something actually happens. It sounds like a lot of threats to see if you'll fold to me. You have better things to do with your life than obsess on this.
Thanks Hedwig. Your kind words are appreciated. I guess i will wait and see who contacts me first, and then act upon it. I did speak with a few lawyers, and none of them seemed to be competent enough or offer what kind of defense would i have or if they could be countersued on things. I guess noone wants to help you, when they dont smell a lot of $$$, or deep pockets.... I would probably need someone with TRIAL experience, someone who is also familiar with NEGLIGENCE law, maybe even things that are against PUBLIC POLICY. I have found similar cases outside of this state, but none in NC. Most of those cases were subrogation cases, where insurance company paid and went after tenants, but the JUDGE precluded them to recover, claiming that tenants are CO-INSUREDS, and reasonable tenants would not foresee that the building would be w/o fire insurace, or they would be required to pay huge sums of money. See, I would need someone who is familiar with ALL THESE THINGS. I need Johnny Cochrane of landlord/tenant and negligence law. Good Luck to ME finding someone like that
1*I can keep denying this and keep requesting validation, but they MAY NEVER SUE ME. 2*But RATHER, place this on a credit report, just to screw me up. I am sure if they find out that I have nothing and they cannot garnish anything, they WONT SUE ME, but I will be left with BADDIES on my CR... 3*Do you think CAs LEGALLY cant put these things on the CR, without a judgment ... they don't need a judgment to trash my history... I agree with you that they WILL need one to collect something from me, 4*but NOT for spoling my credit... 5*So can i sue them in case they put this on my CR? without a judgment? dgj77 ============================ 1*You don't want them to sue you and get a judgment listed on your reports. 2*They can't place it there if they haven't validated it to you. 3*There is no law that says a creditor has to have a judgment before they can report to the CRA. If there was everything listed on a credit report would be a judgment. They need to validate the debt before they can trash your credit history. 4*They have to validate the debt or they can't do that. 5*No because they don't have to have a judgment to report it. The only thing you can sue them for is violating your rights by breaking the law. NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ************************************************************
Lbrown 2*They can't place it there if they haven't validated it to you. So what is your definition of validation? I read a lot about it but still dont know what constitutes validation. We have already established that it is not a judgment, so anyone can spoil anyones credit history just by CLAIMING something... I did find this under NC Landlord Tenant Statute. I am attempting to find out if my state allows Collection Agencies to sue in the name of a landlord LANDLORD TENANT STATUTE "§ 42-62. Parties. (a)Who May Bring Action. - A civil action pursuant to this Article may be brought by the landlord of a leased residential premises, or the landlord's AGENT, as provided for in G.S. 1-57 of the General Statutes and in Article 3 of this Chapter. " § 1-57. Real party in interest; grantees and assignees. Every action must be prosecuted in the name of the real party in interest, except as otherwise provided; but this section does not authorize the assignment of a thing in action not arising out of contract. An action may be maintained by a grantee of real estate in his own name, when he or any grantor or other person through whom he derives title might maintain such action, notwithstanding the conveyance of the grantor is void, by reason of the actual possession of a person claiming under a title adverse to that of the grantor, or other person, at the time of the delivery of the conveyance. In case of an ssignment of a thing in action the action by the assignee is without prejudice to any setoff or other defense, existing at the time of, or before notice of, the assignment; but this does not apply to a negotiable promissory note or bill of exchange, transferred in good faith, upon good consideration, and before maturity. (C.C.P., s. 55; 1874-5, c. 256; Code, s. 177; Rev., s. 400; C.S., s. 446.) Not sure if "Landlords Agent" refers to a collection agency
Yes, in a way you can sue them for putting it on your report. IF, and when, a CA reports something, you ask them to validate. A report from the fire company is not validation. It doesn't prove you owe the debt. So, when they don't send proper validation, you ask again. Then you sue in small claims court (no lawyer needed) and they're going to have to prove to the judge that YOU owe the money, not that there was a loss. Quit with this already. We've all told you there is nothing to worry about right now. You are wasting a lot of time, effort, and heartache about something that is a very remote possibility. If a CA accepts this account without proper proof that you owe it, they may also be liable. They're going to stick to the penny-on-the-dollar credit card portfolios.
Re: Re: Mortgage and Collections Hedwig, I understand what you saying. 1*I can keep denying this and keep requesting validation, but they MAY NEVER SUE ME. 2*But RATHER, place this on a credit report, just to screw me up. I am sure if they find out that i have nothing and they can not garnishe anything, they WONT SUE ME, but I will be left with BADDIES on my CR... 3*Do you think CAs LEGALLY cant put these things on the CR, without a judgment.... *they dont need a judgment to trash my history... I agree with you that they WILL need one to collect something from me, 4*but NOT for spoling my credit... 5*So can i sue them in case they put this on my CR? without a judgment? dgj77 ============================ 1*Well you don't really want them to sue you do you? 2*But by validating you can either keep them from doing that or get it off if they do. 3*Yes they can and they do , do it all the time. Every negative item on a report is merely an allegiation rather than a court doucmented fact. There is no law requiring anyone to have a judgment for anything before they can report it. 4*That is what the FDCPA is for . 5*No
Re: Re: Mortgage and Collections bump ****************************************************** NEW MEMBERS READ THIS.
