ok, i've been away for awhile trying to fix the shattered remains of my life. i now am at the point of fixing my credit again after getting up to a 800+ score. BTW, when you have lates, it doesn't take much to tank your score to about 500. My credit overall doesn't look THAT bad except i am dealing with current issues instead of years old items. here is here i stand and any advice would be appreciated: 1. Capital One - last summer, i decided to stop paying altogether to get the clock started. i figure it is easier to settle once charged-off and I am almost to the 6 month mark. FWIW - i decided this after trying to work with them on the payments and the guy told me he talks to deadbeats like me 100's of times per day. 2. Wells fargo auto loan - had a couple lates but the last 5 months look horrible because they kept losing my payments (yes, seriously - i started sending CMRR so i could prove they were getting them) so it is filled w/30's and 60's. they wouldn't notify me, i would call them when the check wouldn't clear after a couple weeks. how do i fix this? i tried disputing, but they wouldn't budge. 3. Mortgage company - 2 lates but they jut sold debt. old company always just deleted lates, but do the CRA's send dispute to new company or old company since that is when the lates occured? 4. local CU Charge off - was voluntary auto loan repo in 2001 because they wouldn't honor disability insurance. this one has balance of $5k which i refuse to pay and is only on Experian. i do have a statement on this account. 5. Inquiries - haven't applied for anything since spring but Wells Fargo keeps pulling CR every couple weeks for "account review". tried disputing but CRA tells me to take it up with the company. how do i get these removed?
Have they passed you off to a CA? Have you tried going to the top directly with the company? They will send the dispute to the COMPANY you are disputing. Did they follow ALL of your state's repo laws? AR's aren't hurting you... I see you have an auto loan with WF. Do the pulls coincide with the late payments? There is an FTC opinion that says AR is not a pp for closed end accts, however that recently bit me in the tush when Ford showed me our original contract that I authorized them to pull whenever they wanted. Check your fine print.
Re: Re: starting again 1. kind of - i'm still getting bills from cap 1, but i also got a notice from a CA which tells me to pay cap 1 directly. 2. i've tried everything, but i keep getting ignored. thank god the one thing i learned here is CMRR!!! 3. that's what i thought. 4. not sure - i will have to look into that. 5. i'll look into it. i don't mind soft but hard inquiries every couple weeks is ridiculous. there needs to be a cap on that. thanks jlynn!
Re: Re: starting again ok, i looked at my contract for wells fargo and it is your standard retail installment contract showing the dealer as the creditor and the debt being assigned to wells fargo. there is absolutely no verbage regarding inquiries. also, they are pulling hard inquiries, not soft. also, i couldn't find anything about my state's repo laws - i've searched the statues, etc, but nada. any suggestions on where to find them?
Re: Re: starting again What state are you in? I've also found that they are "hidden" in that they want spell out car repo, but you will find details about secured transactions. WF - Send them a no pp letter and shake the trees a bit. See what falls out.
Re: Re: starting again While it may not be written on the actual contract that you sign at the dealership (each state will vary) that says they can pull your credit when ever they want. However when you sign that contract it should say somewhere in there that you will agree to the terms and conditions of the bank that this contract will be assigned. So in turn you are agreeing to the banks terms even though you dont know who the bank is going to be just yet. Also when you fill out your credit app it should some where there that they can pull your credit from time to time.
Re: Re: starting again Right Dario, Unless you're talking about an installment contract. Since the conditions of the contract are fixed, there's no need to pull a CR after the contract is consumated.
Re: Re: Re: starting again where can i find that info in writing? since june they have pulled my credit 15 times between EQ & TU. i technically haven't applied for credit since 4/2004. its killing my already low score. also, is bumpage not working anymore? i was hoping that would get them off, but it isn't working.
Re: Re: Re: starting again bump would really like link or where to find that information on non-PP of closed end accounts!!!
Re: Re: Re: Re: starting again Sorry Jenz, Alert system is not working either. Are you saying that you applied in 4/04, and were denied? Also that all of these inq. are hards, thus impacting your FICO? If this is the case you need to get on these yoyo's immediately.
Re: Re: Re: Re: starting again no, i got my 2nd auto loan - i wasn't declined. that was the last time i actually applied. but i have a ton of inquiries now thanks to wells fargo. thanks butch. TradeWiz - DUH! Why didn't I think of THAT???? Do you really think that i wouldn't try to find the answer on my own first?!?!?!?!?!
Sorry, I just saw this...half the time I can't get into this site. http://www.ftc.gov/os/statutes/fcra/gowen.htm
Even contract terms giving the lender the "right" to pull future credit reports may not be enough to bypass the legal requirement for permissible purpose, which is not present with a closed end contract with fixed terms not dependent on the borrower's future credit worthiness, is not in default, etc. In general, private contract terms do not trump federal law, and "waivers" are illegal as a matter of public policy. If this were not so, every contract you ever signed would waive every legal right you ever had, since they would be written by the lender's lawyers.
