topic Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER! in General Credit Topics

TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Tue, 12 Jun 2007 19:47:40 GMT

Hello,

When fico scores with the Credit Bureau renewed? Let's say I disputed some items and got my reports back. How long will it take before my score gets caculated bt the CB?

And Tuscani, I disputed two collections account and they kept varifiying the information as accurate. The account is already paid, but I want it off since the accounts were in collections for $80.00 dollars or so.

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Anonymous — Tue, 12 Jun 2007 20:09:18 GMT

The credit score is updated as soon as a change hits your report. Unfortunately, unless you have scorewatch you have to pay to get the new score.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Anonymous — Tue, 12 Jun 2007 20:23:16 GMT

Yes, generally the score is recalculated...the question is when you gain ACCESS to the score. Unless you have ScoreWatch, you'll have to pull a new score to see the effect.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Tue, 12 Jun 2007 20:42:14 GMT

Try a GW with whoever is reporting for paid collections.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Thu, 14 Jun 2007 19:14:03 GMT

Tuscani or any loan officers on this board.

When it comes to lenders, how does a loan officer make a decision as too if they will lend you credit or open up a credit card account?

What the difference when it comes to applying for instant approvals or just completing an application? Is there a loan officer standing by to view the credit report when applying for instant credit or it's solely based on the fico score?

In that case, to not get ding with another inquiry, is it best to forward a copy of your recent credit report to the lender. By the way Tuscani suggested this and I think that was brilliant!

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Fri, 15 Jun 2007 16:06:58 GMT

BUMP

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Fri, 15 Jun 2007 17:57:05 GMT

Cory wrote:

Tuscani or any loan officers on this board.

When it comes to lenders, how does a loan officer make a decision as too if they will lend you credit or open up a credit card account?

What the difference when it comes to applying for instant approvals or just completing an application? Is there a loan officer standing by to view the credit report when applying for instant credit or it's solely based on the fico score?

In that case, to not get ding with another inquiry, is it best to forward a copy of your recent credit report to the lender. By the way Tuscani suggested this and I think that was brilliant!

Cory

Loan officer? LOL

When it comes to lenders, how does a loan officer make a decision as too if they will lend you credit or open up a credit card account?

Depends... some places are 100% score driven. Others spend more time manually reviewing. IMO, most CCCs are automated. This is why reconn is so powerful if you are declined.

Instants are usually score driven.. but not always. Some creditors will deny based on certain criteria.. For example, I have seen non BK friendly creditors deny even though the applicant had a 720+ score. The same holds true for lates, collections, judgments, etc. You have to remember that scores are often more important when determining one's rate.. not necessarily the approval itself.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Tue, 19 Jun 2007 14:33:25 GMT

Thank you all for your help with this matter.

I have another question,

I already had $10,700.00 in negative debt (collections) and I added a personal loan to that. Is that what you guys are talking about when you say my utilization went up to high?

Do you think that adding the personal loan of $4K even though it was a positive tradeline keep my score at bay?

I believe I'm finally understanding what you guys are talking about. Experian had a duplicate tradeline that I disputed and it fell off. By the way I'm getting another personal loan to pay off the debt.

It did help me get credit card offers. In 2006 I didn't think that I even had a credit portfolio anymore until I started seeing the offers come in.

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Wed, 20 Jun 2007 20:05:47 GMT

I have a concern, when you settle with an collection agency, what are the ramafications behind that?

I going to settle a debt that I owe a total of $1976.00 and I'm settling for $1,000.00. I know that it's probaly not good, but do I have anything to worry about?

I heard from a friend that collections agency will send you a 10-99 at the end of the year. This will put you in a higher tax bracket.

HELP, HELP, HELP

Any help is greatly appreciated.

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Wed, 20 Jun 2007 20:12:53 GMT

BUMP, BUMP Help I'm sinkinggggggggggggg

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Wed, 20 Jun 2007 20:16:54 GMT

Cory wrote:

BUMP, BUMP Help I'm sinkinggggggggggggg

PFD!!!

Message Edited by Tuscani on 06-20-2007 03:16 PM

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Anonymous — Wed, 20 Jun 2007 20:16:50 GMT

@Cory wrote:
I have a concern, when you settle with an collection agency, what are the ramafications behind that?
I going to settle a debt that I owe a total of $1976.00 and I'm settling for $1,000.00. I know that it's probably not good, but do I have anything to worry about?
I heard from a friend that collections agency will send you a 10-99 at the end of the year. This will put you in a higher tax bracket.
HELP, HELP, HELP
Any help is greatly appreciated.
Cory

I believe the amount needs to be $1200 for them to 1099 you- DONT QUOTE ME>

You also need in writing that is is full satisfaction of the debt - they can not sell, transfer, report etc to anyone.

Try to also have them put in it will be unverifiable.

PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD PFD

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Anonymous — Wed, 20 Jun 2007 20:18:57 GMT

you will get a 1099 form, you wil have to pay taxes on it as it is considered income earned. I don't know about the whole higher tax bracket thing . They are only going to tax you on the $976. I dont' think you are going to jump up that high

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Wed, 20 Jun 2007 20:21:41 GMT

Forget that, the guy already told me that they are going to report it as settled.

I wish I could be like you guys all bold and everything. I was sweating while I was talking to him.....

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Wed, 20 Jun 2007 20:31:27 GMT

did you send the money yet? If not, PFD can still work.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Wed, 20 Jun 2007 20:38:16 GMT

Tuscani wrote:
did you send the money yet? If not, PFD can still work.

No, I have not sent him the money. How can I make this guy change his mind? what trick can I pull out the hat?

He said I have until June 29, 2007 to send it or else.. lol

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Wed, 20 Jun 2007 20:49:40 GMT

or else? LOL

Tell him he gets nothing without PFD and see what he says.

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Cory — Wed, 20 Jun 2007 21:11:09 GMT

Tuscani wrote:
or else? LOL

Tell him he gets nothing without PFD and see what he says.

Okay. I'll try and see what the guy says. He's a tuff cookie.

Cory

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

fused — Wed, 20 Jun 2007 21:48:56 GMT

Maybe for a nominal fee, Tuscani can negotiate a reasonable PFD!

Re: TUSCANI?????? NOAH_BODIE??LADY FICO??????NEWWORLDMAN??? YOUR FOLDER!

Tuscani — Wed, 20 Jun 2007 21:50:22 GMT

Honestly.. I would have offered $500. Why wouldn't they agree? Something is better than nothing.