CreditFactors

Capital One purchased HSBC (Orchard) – will they continue to offer BOTH cards?

Christine — Thu, 01 Sep 2011 20:09:12 +0000

A client who needed to re-establish credit just received his new Orchard and Capital One cards with $300 limits. [Added 9/2/11: Another client who filed for Ch. 7 bankruptcy 6 months ago was approved for a $500 Orchard card, Purchases APR 14.90%, annual fee $19. Capital One did NOT have anything for him and there's [...]

4.25% 30-year fixed rate FHA mortgage with several UNPAID collections

Christine — Sat, 20 Aug 2011 16:06:37 +0000

A client in WA closed last week with two reported UNPAID collections for about $15,000. Additionally, his most recently tax lien (now released) was just filed last December and he had several settled collections and judgments. I’m so happy we didn’t have to settle with LVNV. Wife’s FICO scores were around 800 with obviously perfect [...]

Part 1: Trans Union FICO score 738 with two charge-offs

Christine — Sun, 06 Mar 2011 17:25:12 +0000

The client’s credit reports contained only 4 accounts: A positive student loan, two charge-offs with $0 balances and a Palisades collection. Due to the low number of accounts, it is easy to document how FICO scores rate accounts. Tradelines reported by creditors as disputed are NOT rated as derogatory, but DO count for the so [...]

Quicken Loans’ refusal to provide mortgage rate for 730 FICO score

Christine — Tue, 28 Sep 2010 21:04:21 +0000

A client is currently refinancing and they have PERFECT credit (as defined by rational people): No lates, no collections, no judgments or liens, nothing whatsoever that could be considered derogatory. However, they have a lot of debt (helping out their kids, times are tough) and unfortunately I didn’t know that they needed to get a [...]

NCO utility collection after move lowers FICO scores by over 100 points

Christine — Fri, 30 Jul 2010 20:47:24 +0000

My client moved last year, didn’t get a bill and all of a sudden there’s this NCO collection on his credit. He panicked and immediately paid the utility company. THEN he found my websites and I just drafted the disputes for him. NCO reports only to Experian and Trans Union, so his Equifax report is [...]

Arthur Miller v. Cohen & Slamowitz: attorney’s failure to conduct meaningful review violates FDCPA

Christine — Mon, 12 Jul 2010 22:15:33 +0000

This case has been litigated since 2001. Originally, notorious collection law firm Wolpoff & Abramson was one of the defendants as they had referred the account to Upton, Cohen & Slamowitz. Wolpoff then merged with Mann Bracken and they went bankrupt when Minnesota put an end to the National Arbitration Forum SCAM. Giant Debt Collector [...]

You do NOT owe income tax after settling collections if you were INSOLVENT

Christine — Thu, 08 Jul 2010 00:29:37 +0000

I’m currently working with a client who is considering settling debts and concerned with having to pay income tax as his accounts are still owned by the original creditors. So I did some research and I just reviewed the current rules. As always, I’m NOT an attorney or CPA — please read the IRS instructions [...]

FICO scores STILL create fictitious late payments on Equifax reports

Christine — Fri, 04 Jun 2010 07:17:17 +0000

Over three years ago I documented that Equifax myFICO reports often contain entirely FICTITIOUS and extremely FICO score lowering RECENT late payments. A FICO scoring software “bug” misinterpreted the charge-off reporting as late payment. This can NOT be fixed by Equifax as the Equifax direct report does not contain these late payments. I notified Fair [...]

Experian refusal to investigate factual credit disputes and FALSE accusations of FRAUD

Christine — Tue, 04 May 2010 19:08:24 +0000

Here is the repost from the new Liars and Cheats EXPOSED blog at FTC complaint about Experian refusal to investigate factual credit disputes and the documentation and correspondence is posted there. My client actually INCLUDED a copy of his drivers license and utility bill with his factual disputes AND Experian provided him with his credit [...]

New blogs on credit reports, collections and credit litigation

Christine — Sat, 13 Mar 2010 08:52:45 +0000

I haven’t had time to post here because I’ve been very busy setting up new blogs at Liars and Cheats EXPOSED: BBVA Compass Bank CLOSED my Accounts to RETALIATE for my Publications Cohen & Slamowitz Unfair Collection Litigation Practices Credit Bureau Experian and DeVry Reporting False Late Payments and Refusal to Delete Credit Reporting and [...]