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Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Denial 'lingo' help..

[ Edited ]
My wife applied for a CC yesterday and was denied online and here is the exact wording given for a denial.
We want to send out a reconsideration letter but need to know exactly what these abbreviations mean.
We know some ( and they are wrong, that's why the recon letter) but need help so we have our ducks in a row. It said....

EXC OBLIGATIONS IN RELATION TO INCOME
DELINQUENT PAST / PRESENT OBLIGATIONS
GRNSHMT ATTCHMT FRCLSR REPR OR SUIT

The first and second line are obvious and we think the third reads ' garnishment attachment foreclosure , repossession or report or ?? .

She declared BK three years ago, there are no garnishments on all three reports, unless BK counts as that. She has no foreclosures anywhere, and we'd like to know the rest.
The delinquents are coming up on EQ as the BK'S. Instead of just saying BK they are still reporting lates during the time of the court. That probably can be remedied.
We'll take our chances with number one by explaining some of her obligations are shared by me now.

Thanks for any help.

Jax

Message Edited by jaxstraw on 04-13-2008 04:37 AM
Jax

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Frequent Contributor
Posts: 433
Registered: ‎02-07-2008
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Re: Denial 'lingo' help..

[ Edited ]

jaxstraw wrote: My wife applied for a CC yesterday and was denied online and here is the exact wording given for a denial. We want to send out a reconsideration letter but need to know exactly what these abbreviations mean. We know some ( and they are wrong, that's why the recon letter) but need help so we have our ducks in a row. It said.... EXC OBLIGATIONS IN RELATION TO INCOME DELINQUENT PAST / PRESENT OBLIGATIONS GRNSHMT ATTCHMT FRCLSR REPR OR SUIT The first and second line are obvious and we think the third reads ' garnishment attachment foreclosure , repossession or report or ?? . Message Edited by jaxstraw on 04-13-2008 04:37 AM
Suit would be lawsuit/judgment. Sounds like something listed on the public records section of her report.

Message Edited by tonsers on 04-13-2008 04:54 AM
Established Contributor
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Registered: ‎03-29-2008
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Re: Denial 'lingo' help..

Thanks, there's no public record beyond her BK on all three CR'S. Do you think that's what they are stating as 'SUIT' ??
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Denial 'lingo' help..

The third line indicates that there is a public record (in this case the BK). Rather than saying "Public Record" they are rattling off that laudry list.
 
When you file a BK there will be a lot of loose ends to clean up. You have to be militant about getting each and every accout that was discharged in BK to report correctly. It will take a lot of dilligent work.
 
I would recommend that you perfect the story as to why there was a BK. Then use it to get as much GW as you can.
 
There is hope. My SO filed BK more than ten years ago, tended her CR's, was patient, and now has FICO's over 800! It can be done - but it will take every day of the ten years and NO MORE MISSTEPS!
 
 
Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: Denial 'lingo' help..

Thanks, that makes a lot of sense. She actually had unbelievable credit, co-signed with ex to get a some home equity and car loans for his bad credit , then came the divorce.
In order to protect herself, four years ago, she declared BK on just those accounts to force him to put them in his name. This was after paying off all her own accounts and closing them to maintain their history.
To make a long story short, we found out this week from his daughter he's foreclosing on the property after not being able to pay.
She was right all along.
Thanks
Jax
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
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