I am on a short time line for raising my scores, since we want to apply for a mortage by the end of march. My major negs, include a repo from last summer from someone close that i cosigned for. I need to get this off my report asap.... the oc still has the account and has not filed lawsuit. The company says balance is about $3500 which I could pay but I want a deletion. I was thinking of having an atty negotiate a deal for me.... I am getting nervous because they pulled a soft on my 2/13/03. If I have any atty write a letter, are my chances better? this company has committed on violation by sending a notice of past due payment on postcard, but that is all i have on them. Credit Acceptance Corp, via my google search is aggressive on pursuing folks for deficiency balances but has a bad rep. Any help is appreciated!
You could not hope to fight them off between now and the end of March unless you were awfully lucky so I think the Westcap endorsement is your only hope. Using that you can prove to your lender you paid them off and go get your loan and hope they refuse the check after the loan is done. Its a trick that has worked a time or two for me.
So what is new about that? They all appear to have somehow escaped from the hot bowels of some sewer, be at least 10 feet tall and leave a horrible stink upon all that they touch or even come near to unless one realizes just one simple little fact. They put their pants on the same way you do. One leg at a time. That can only lead to one simple conclusion and that is that what one man can do another man can and will screw up. All he has to do is to be more knowledgeable and more determined than they are and then it becomes a fact that the bigger and badder they are the harder they fall. To the uninformed, the weak, and the fearful they suck just as you say. In fact they are absolutely terrifying. But those who understand that and are willing to learn, to plan and to develop a complete strategy that will defeat them under any and all circumstances and conditions will soon realize that they aren't the lions they appear to be but rather just little bitty kittys that just need a cage with a litter box in it. Today there is not one single solitary person or company bar none who has that complete strategy that will defeat them under any and all circumstances and conditions no matter what they might tell you. Nobody! Some are better than others but thats it. And the probability is that nobody ever will have that perfect strategy just like man will never have the perfect government. Be that as it may, my point is that if you learn how they operate and then learn how to defeat them it makes no difference how big or how bad they are you can defeat anything they can possibly do to you.
this is credit acceptance corp. Sherada, what type of settlement? and you don't think that using a atty might "scare" them into a deletion?
Hey diva, you said oc? The postcard thing only applys to ca's doesn't it? I am not sure about that but I know that is in the FDCPA.
My attorney will scare the living daylights out of anybody indeed. Even me. His name is John Asshcroft. Anything that sucker does ought to scare the daylights out all of us. Yes, he is my attorney but I've never seen him do any good for me yet. Got another "old buddy" too. Names' Geedubya or thats what some call him anyway. That sucker scares me to death too but worst of all they seem to think I gotta help pay their expenses for going out hunting camels. Helluva note to say the least. (LOL)
okay, enough of the theoretical, practical advice that i can actually use, is what I am asking for! bump
I tried to give you practical advice that would help you both get your mortgage and stand an excellent chance of taking care of the credit report as well but you either didn't read it or cared so little for what I had to say that you have totally ignored it. I told you that I work with mortgage brokers and what I do is to help people who have a broad range of problems with credit reports get a mortgage and a home. I told you that in my opinion your time line was so short that you probably could not hope to go the route of trying to fix your credit and get it done in time. I also told you that I think you should get a bank certified cashier's check or equal sized money order and use the westcap endorsement which still may be available on this board if you do a search for the word westcap and use that endorsement on the back of the check you send to the creditor to pay him in full. And I just posted a complete description of how best to use the method to take care of problems such as yours when time is short maybe a couple of days or so ago. That is about the only practical advice that I know of that you can actually use in a situation such as yours. Obviously nobody has come up with a better one so far.
Let's go back to the basics.. ask them to validate. Haveyou done that yet? After that, demand proof of debt - if they can't provide this to you, then they must delete it.. then follow up w/ a lawsuit intent letter. I would do that.. all this depends on how old this is, the amount, etc.
Good advice of course, Ender but the poster stipulated that they had about 40 days to get it cured or no mortgage. That means that if they had the letter all ready to go and could get it in the mail it would take up to 5 days for it to get to the destination and get read. They would have a bare minimum of 30 days in which to validate and then even if a response was obtained and the item was proven false they would have to start their fight to get it off the credit report. None of it is going to happen in any 40 days. Having that negative on the credit report is not going to keep them from getting a mortgage if the debt has been paid. It might increase the interest by a point or so however. So if they pay the debt using the westcap endorsement they will get the mortgage and they will end up keeping it off their credit history if the creditor accepts the check and if he don't accept the check they will still have their mortgage whether the debt is actually paid or not if they do it the right way.
the account is with the original creditor, and they do not have to validate! I did think about the westcap or other type of restrictive endorsement, but did not want to take a chance with them saying it was not binding, etc. I need a deletion! this is already on my report! BTW. I am building, if this makes any difference>
So much for getting back to basics then. If they cash the check they may not alter by law and so they have just two options. Cash it and do it or return the check. By taking front & back double sided photocopies before the stamp is put on and sending by CMRRR you can go immediately to the lender and "prove" that you paid it and should be able to get the mortgage. And by taking a second double sided photocopy with the stamp on it you can prove to a court of law that they cashed the check and broke the contract. Not really. What you need is a mortgage. I've already seen the trick work so I know it does. What I've never heard is what the OC did with the check. I assume they cashed it and the deal went through but I don't know about that. It probably does but the mortgage is all that is important right now and if you do what I have suggested you should get the mortgage regardless of all else. You can worry about the rest later.
Are you in one of these states: District of Columbia and the following states include creditors in their debt collection laws: Arkansas, California, Colorado, Connecticut, Florida, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Texas, Vermont, West Virginia, and Wisconsin. If so then the FDCPA applies to the OC as well. These states make no distinction between OC and CA.
