Comments for CreditFactors http://creditfactors.com FICO credit scores - settling debts - dealing with collectors ... Tue, 03 Apr 2012 15:38:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on White v. Experian et al: CRAs must update SOME discharged accounts after bankruptcy filing by Johnny m Young http://creditfactors.com/2008/10/white-v-experian-et-al-cras-must-update-some-discharged-accounts-after-bankruptcy-filing/comment-page-1/#comment-5773 Johnny m Young Tue, 03 Apr 2012 15:38:41 +0000 http://creditfactors.com/?p=437#comment-5773 I have yet to receive a dime from the class action suit.... i sent in all my forms.... to no-response I have yet to receive a dime from the class action suit…. i sent in all my forms…. to no-response

]]> Comment on White v. Experian et al: CRAs must update SOME discharged accounts after bankruptcy filing by Christine http://creditfactors.com/2008/10/white-v-experian-et-al-cras-must-update-some-discharged-accounts-after-bankruptcy-filing/comment-page-1/#comment-5746 Christine Fri, 02 Mar 2012 04:11:16 +0000 http://creditfactors.com/?p=437#comment-5746 2/24/12 is not the appeal deadline, but the deadline for the appellees' answering brief. There's no way of telling how long it takes, there could be oral arguments, etc. It looks like your (the class) attorneys didn't like the judge's order regarding their attorneys fees. 2/24/12 is not the appeal deadline, but the deadline for the appellees’ answering brief. There’s no way of telling how long it takes, there could be oral arguments, etc.

It looks like your (the class) attorneys didn’t like the judge’s order regarding their attorneys fees.

]]> Comment on White v. Experian et al: CRAs must update SOME discharged accounts after bankruptcy filing by Kelly Foster http://creditfactors.com/2008/10/white-v-experian-et-al-cras-must-update-some-discharged-accounts-after-bankruptcy-filing/comment-page-1/#comment-5745 Kelly Foster Fri, 02 Mar 2012 03:15:14 +0000 http://creditfactors.com/?p=437#comment-5745 Settlement Website www.BankruptcyDischargeSettlement.com IMPORTANT UPDATE: On August 12, 2011, a notice was filed with the Court to appeal the Order Granting Final Approval and the orders regarding attorney fees and costs. The deadline for Appellants to file their opening briefs with the Ninth Circuit Court of Appeals is January 23, 2012. Appellees must file their answering brief(s) by February 24, 2012. Settlement Website
http://www.BankruptcyDischargeSettlement.com

IMPORTANT UPDATE: On August 12, 2011, a notice was filed with the Court to appeal the Order Granting Final Approval and the orders regarding attorney fees and costs. The deadline for Appellants to file their opening briefs with the Ninth Circuit Court of Appeals is January 23, 2012. Appellees must file their answering brief(s) by February 24, 2012.

]]> Comment on White v. Experian et al: CRAs must update SOME discharged accounts after bankruptcy filing by Christine http://creditfactors.com/2008/10/white-v-experian-et-al-cras-must-update-some-discharged-accounts-after-bankruptcy-filing/comment-page-1/#comment-5744 Christine Wed, 29 Feb 2012 16:19:08 +0000 http://creditfactors.com/?p=437#comment-5744 I don't know anything about a 2/24/12 appeal deadline. Please post a link and I'll look into it. I don’t know anything about a 2/24/12 appeal deadline. Please post a link and I’ll look into it.

]]> Comment on White v. Experian et al: CRAs must update SOME discharged accounts after bankruptcy filing by Kelly Foster http://creditfactors.com/2008/10/white-v-experian-et-al-cras-must-update-some-discharged-accounts-after-bankruptcy-filing/comment-page-1/#comment-5742 Kelly Foster Wed, 29 Feb 2012 13:07:25 +0000 http://creditfactors.com/?p=437#comment-5742 Now that the 2-24-12 appeal deadline has passed, when should defendants expect to receive any monetary settlement? Thank You. Now that the 2-24-12 appeal deadline has passed, when should defendants expect to receive any monetary settlement?

Thank You.

]]> Comment on Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting by Christine http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5667 Christine Mon, 23 Jan 2012 05:25:34 +0000 http://creditfactors.com/?p=404#comment-5667 Gary, please see http://liarsandcheats.info/incorrect-student-loan-reporting-lowers-fico-scores/ I had posted the follow up disputes for my client, but he never sent them as he got busy, moved, etc. and it wasn't at the top of his list of things to do. I currently have several other clients with that problem, but it's NOT their big issue. It's not surprising that people hire me to deal with collections and chargeoffs and those issues are more important for their FICO scores. If you have a few hundred thousand dollars to spare (millions would be better), a class action will likely work. If not, you'll have to do it the hard way and get it done yourself. Submit FACTUAL and PUBLIC complaints to regulators, publish their responses, sue in small claims, pay for national press releases, ... Maybe one of my clients will decide to pursue the issue, just got another round of verifications WITHOUT the correct high credit. <blockquote>I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts</blockquote> If you read the blog at Liars & Cheats Exposed you'll see that many peoples' balances INCREASE while making payments due to income based repayment plans. Many people don't make nearly enough to pay off their student loans, they just don't have the income. I'm with Webster Tarpley and would definitely be for forgiving the 1 trillion + in student loans. That'll be the day. Gary, please see http://liarsandcheats.info/incorrect-student-loan-reporting-lowers-fico-scores/

I had posted the follow up disputes for my client, but he never sent them as he got busy, moved, etc. and it wasn’t at the top of his list of things to do.

I currently have several other clients with that problem, but it’s NOT their big issue. It’s not surprising that people hire me to deal with collections and chargeoffs and those issues are more important for their FICO scores.

If you have a few hundred thousand dollars to spare (millions would be better), a class action will likely work.

If not, you’ll have to do it the hard way and get it done yourself. Submit FACTUAL and PUBLIC complaints to regulators, publish their responses, sue in small claims, pay for national press releases, …

Maybe one of my clients will decide to pursue the issue, just got another round of verifications WITHOUT the correct high credit.

I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts

If you read the blog at Liars & Cheats Exposed you’ll see that many peoples’ balances INCREASE while making payments due to income based repayment plans. Many people don’t make nearly enough to pay off their student loans, they just don’t have the income.

I’m with Webster Tarpley and would definitely be for forgiving the 1 trillion + in student loans. That’ll be the day.

]]> Comment on Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting by Gary http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5666 Gary Mon, 23 Jan 2012 04:02:33 +0000 http://creditfactors.com/?p=404#comment-5666 This is a simple fix by the Department of Education. They can work with other executive branch agencies to write a regulation requiring Sallie Mae to report the amount correctly. I would suggest the date loans went into repayment. That would make everyone's loan amount the highest the date repayment starts. Write the President, let the White House work for the student vote this time. This is a simple fix by the Department of Education. They can work with other executive branch agencies to write a regulation requiring Sallie Mae to report the amount correctly. I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts. Write the President, let the White House work for the student vote this time.

]]> Comment on Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting by Gary Richmond http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5664 Gary Richmond Mon, 23 Jan 2012 01:03:59 +0000 http://creditfactors.com/?p=404#comment-5664 I am considering a class action law suit against sallie mae for thier reporting of high limit loans information. I believe the high limit should be the amount of the loan once it goes into repayment, not the amount of the loan the day it is written. I am going to spend the week looking at regulation but I would be surprised to see if there is a legal requirement to report the limit the date the loan was made. I believe it is a fairness issue and a federal court would come down on the side of the student. For it to work thousands of student borrowers would need to be involved. I am considering a class action law suit against sallie mae for thier reporting of high limit loans information. I believe the high limit should be the amount of the loan once it goes into repayment, not the amount of the loan the day it is written. I am going to spend the week looking at regulation but I would be surprised to see if there is a legal requirement to report the limit the date the loan was made. I believe it is a fairness issue and a federal court would come down on the side of the student. For it to work thousands of student borrowers would need to be involved.

]]> Comment on FCRA Section 623(a) violations do NOT result in legal claims for consumers by Christine http://creditfactors.com/2008/09/fcra-section-623a-violations-do-not-result-in-legal-claims-for-consumers/comment-page-1/#comment-5521 Christine Mon, 28 Nov 2011 00:27:46 +0000 http://creditfactors.com/?p=423#comment-5521 A charged off account CAN be reported as chargeoff every month, but they also have to report the Date of Last Activity (Equifax) and Date Closed (TU). For Experian it gets complicated, but the Date of Status MAY be critical. I've posted in more detail about these issues at the blog here. With otherwise good credit a CORRECTLY REPORTED 2008 charge-off should not lower your scores below the mid to high 600s. However, you COULD be subjected to the Equifax FICTITIOUS late payments, see http://mylitigation.net/pr.php/news/release/2_26_07_open_letter_fair_isaac_regarding_its_addition_of_fictitious_data I have the documentation proving that as of June 2011 myFICO had NOT fixed this bug. And I just had another client with a myFICO report that has the fictitious late payments, but I can't prove that they lower the scores because he has so many other problems. Hopefully your attorney is smart enough and willing to take the time to figure out why your scores are so low. I find that most people don't understand the credit reports well enough to determine WHY their scores are so low and often it's just a missing or incorrect piece of data. So if you can't get the account deleted and you still want to buy a house, I highly recommend subscribing to the CreditFactors knowledgebase and member forum where I'll be glad to help you if you post the reporting of the account and your myFICO score factors. Or you can order the Credit Review or the Analysis (only recommended for people who need higher FICO scores for a mortgage.) Since the account is NOT yours, I sure hope they'll delete. A charged off account CAN be reported as chargeoff every month, but they also have to report the Date of Last Activity (Equifax) and Date Closed (TU). For Experian it gets complicated, but the Date of Status MAY be critical. I’ve posted in more detail about these issues at the blog here.

With otherwise good credit a CORRECTLY REPORTED 2008 charge-off should not lower your scores below the mid to high 600s. However, you COULD be subjected to the Equifax FICTITIOUS late payments, see http://mylitigation.net/pr.php/news/release/2_26_07_open_letter_fair_isaac_regarding_its_addition_of_fictitious_data

I have the documentation proving that as of June 2011 myFICO had NOT fixed this bug. And I just had another client with a myFICO report that has the fictitious late payments, but I can’t prove that they lower the scores because he has so many other problems.

Hopefully your attorney is smart enough and willing to take the time to figure out why your scores are so low. I find that most people don’t understand the credit reports well enough to determine WHY their scores are so low and often it’s just a missing or incorrect piece of data.

So if you can’t get the account deleted and you still want to buy a house, I highly recommend subscribing to the CreditFactors knowledgebase and member forum where I’ll be glad to help you if you post the reporting of the account and your myFICO score factors. Or you can order the Credit Review or the Analysis (only recommended for people who need higher FICO scores for a mortgage.)

Since the account is NOT yours, I sure hope they’ll delete.

]]> Comment on FCRA Section 623(a) violations do NOT result in legal claims for consumers by Mary Bernhard http://creditfactors.com/2008/09/fcra-section-623a-violations-do-not-result-in-legal-claims-for-consumers/comment-page-1/#comment-5520 Mary Bernhard Sun, 27 Nov 2011 23:29:22 +0000 http://creditfactors.com/?p=423#comment-5520 Does this mean a charged off account can be reported as new everymonth until it falls off credit report? By doing this a recent late payment with a recent CO shows up for, in my case 4 years. keeping my credit score under 600. I am currently in a law suit as this debt is not mine and was not known to me unitl I went to buy a house. Disputes have turne up the original charge off was in 2008. Anybody know the answer? Does this mean a charged off account can be reported as new everymonth until it falls off credit report? By doing this a recent late payment with a recent CO shows up for, in my case 4 years. keeping my credit score under 600. I am currently in a law suit as this debt is not mine and was not known to me unitl I went to buy a house. Disputes have turne up the original charge off was in 2008. Anybody know the answer?

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