I really need guidance

[Anonymous]

Ok as I have written here before like a lot of us is rebuilding mine and my wife's credit. A big thorn in our history is a voluntary repossession in 2004. Our last payment on this vehicle was 2/2004. I received correspondence from an attorney ref this account last month demanding payment in full. I pulled my all three cr's 1/9/08 and observed that that repossession was 30late 3/04 - 60late 4/04 and charged off 8/05 to current. They were showing chargeoff in the pay status. I DV the attorney however I  believe they did not provide the adequate information. Here is the link to that portion:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=71253&view=by_date_...

In that thread I typed in what the attorney sent, my initial DV, and the response from the attorney about the DV. Well believing I did not get a proper DV I took the advice from Lady Scarlett and sent a modified version of letter she provided. Today I pull my reports and observed that the account is now showing collection/charge off in the pay status instead of the previously reported chargeoff. All of this is through the original OC. I have not received a response from the attorney about my second letter.

Today my wife and I started the paperwork for a FHA loan. The loan officer pulled our reports through Settlement One and sent me a copy. In that report this account is now showing in the "collection information" section with the following information:

Date Reported 5/08

 Date Opened 5/02

High Credit 26916

Balance 11467

Accnt Type I

Accnt Status Charge Off

ECOA 2   xpn-1 xpn-2  tu-1 tu-2   efx-1 efx-2

Late Past Due 866

"Previous status 09, charge off account, voluntary surrender, profit or loss, charged off account, auto

I pulled my TC today. There it was in listed by all three CRA in the pay status now as chargeoff/collection. It is not showing in the TC in the collection section. Also my FIKA have not went down due to this. Now I know during the 30 day DV period they cannot actively pursue the account. Does this status change violate anything? Do I have any recourse? Help would be greatly appreciated. I do not know how to post the original letters on here or I would. If someone could explain it I would post them. I will send them via email if anyone can assist.

Thanks.

Jereme

Oh, and by the way I still got 142k for 30yrs @ 6.5% fixed!!!!!!! BWAAAAHAHAHAHAHA

Message Edited by jnjinfl on 02-08-2008 06:37 PM

[gdtobefree]

if you don't mind my asking, what are your scores? And who did you go through for your FHA loan?

[Anonymous]

My scores are Equifax623 with codes 39 / 10 / 14 / 13. TransUnion616 with codes 39 / 10 / 14 / 13 and Experian642 with codes 39 / 10 / 14 / 21

Wife was Equifax626 with codes 38 / 10 / 18 / 14 TransUnion649 with codes 38 / 10 / 13 / 6 and Experian635 with codes 38 / 10 / 18 / 14.

We went through a lender here in Florida. I don't know if they lend out of state. We are current homeowners and are refinancing our home. We have had the current mortgage 2yrs.

HomeBanc America

Thomas Miles

866-503-3499 Toll Free 

813-287-6666 Office

[gdtobefree]

Thank You for the info, and congrats

[Anonymous]

bump

[Anonymous]

bump again

[Anonymous]

Hi. I read your posts - I am new to this account so I am a little slow to pick up the lingo, but, I am trying. I am currently in battle with Americredit as well. No lawyers are involved, because I have been paying them per an agreement I made with them when I found out the account had been charged off. In December 05 I bought a car. In December of 06 the car was towed by the city -and the city forfeited the car. The car was then sold, leaving me with a balance of 4427.67. In may they informed me of this balance. I called immediately and set up a payment arragement. I am now trying to get the balance paid to zero. Does a 0 balance on a charge off help to improve your credit? Also, I Was thinking about sending them a letter - offering to pay the remaining balance (now 2800) in full if they deleted the account from my credit report. Currently it is listed as a charge off on my credit report with a remaining balance.

What is the best thing for me to do here? THANK YOU FOR YOUR HELP.

!!!!

[Anonymous]

Oh yeah. I am in california. What is the SOL here?

[Anonymous]

Well I am not too sure about your best course. I have alot of questions about situation hence the reason for the post. I do believe however you have put yourself into a worse position since you made an agreement with them without getting an agreement on the account first. Also I know for fact you have changed your date of last activity from when you originally defaulted on the account to when you made your most recent payment. Both of those are bad for you. I hope the fico gods will respond to my thread as I need help on my best course of action. Fico gods..... you there can you please bestow your knowledge and wisdom

[Anonymous]

bump again..... anyone??