Our Debt Free Lives

GFE 3 days from when? [gfe] [timeline]

admin — Tue, 18 Oct 2011 04:06:00 +0000

I'm a little confused about the timeline for a GFE because of the holidays and my situation. Can someone give me some advice do you offer?
I received in advance by my lender on Thursday (12/28) approved, but I was out of town visiting my parents. She sent me a check list of terms that I would need to fax to her when I know back home (12/30) back, that they not return to the office until Tuesday (02.01). When should I expect to receive my GFE? I have read online that it must be sent to me within 3 days, however, is that 3 days of starting pre-approval or 3 working days of them all the paperwork at the beginning of me?
Paperwork including 401K statements, bank statements, contracts of employment verification, etc. However, credit was on 28 considered for the pre-approval. I also have pre-approval letters that I sent to 12/28.
Thanks!
HTeeW

Best Answer: Your lender is required to provide a Good Faith Estimate within 3 days of receiving six pieces of information which includes the property address, your SSN, your name, your income, estimate of property value and loan amount. If you did not receive a timely GFE and your lender had this information, my suggestion would be to file a complaint with your state mortgage regulator. Here in TX that would be the Texas Department of Savings and Mortgage Lending. On the other hand, you can threaten to do this and see if they eat the cost of the appraisal and allow you to go somewhere else.

Reply:Thanks. This is all happening so quickly that it is making my head spin and sometimes it feels like it isn't happening quickly enough!
Heather

Reply:In reality RESPA does not require a GFE until a subject property has been identified……That is the technical answer on a purchase.

Reply: That would be three business days from the time of application. If you were preapproved on Thursday, then you should get a GFE no later than tomorrow.
Sorry to interrupt. Is this standard practice or actually some law?
It's taking way longer on my end of things. Just wonderin'.

Reply:That would be three business days from the time of application. If you were preapproved on Thursday, then you should get a GFE no later than tomorrow.

score raise of 12 points today/ w my new Hooters card! [baddies] [kudos]

admin — Tue, 18 Oct 2011 00:46:00 +0000

So my Hooters card reporting (although I really had not time yet) and myFICO reports that now that she's turned, raised my score to the 12 points!
Just that wanted to bring out because I know people often ask how much you can raise a card your guests. FWIW, my limit is only 500, I have about 8 old bad guys, and now 1 more CC (Orchard) reporting.
Thanks guys, still full of praise for CBS . I've never heard of the application when I was not here, thought I would!

Reply:That's crazy!!! So do you guys' think this is worth it…or wait and let my accounts age?

Reply: If you have around a 650 FAKO with TU, is this a good card to go for?
I have searched the CP's, and in my state, no one has really done anything since 08….a LOT has changed since 08 LOL!
Well I had a FICO of 675 and a FAKO of 649 before I had a 2008 collection drop and they refuse to give me a card!!
My wife had a 607 TU FICO and they gave her a $400 limit. I just got a $500 limit with a 646 FICO. Lots of other factors go into the decision though I'd guess

Reply:If you have around a 650 FAKO with TU, is this a good card to go for?
I have searched the CP's, and in my state, no one has really done anything since 08….a LOT has changed since 08 LOL!

Reply:congrats on the approval and the FICO bump!

Thanks Chase.because of you I get to do my taxes again! [mail] [chase]

admin — Mon, 17 Oct 2011 21:26:00 +0000

Back in 2003 I had a credit card that was bought by Chase. They sent a collector to negotiate a deal with me when I half of the amount due, paid, this would take care of it. So the $ 1,300 debt, I paid $ 700 and then as it is settled for less than the full amount, but I was up paid.
Well filed on my taxes this year and both have a couple of weeks. And lo and behold in the mail today, a 1099-C form of Chase. I had to call them to inquire what it was and what is essentially it, Chase had taxes on the forgiven amount of the original $ 1,300 (about $ 600) to pay, and so after 31 weeks January I of this damn form them.
Because of you get Chase, I get my taxes from federal and state governments all want to change back to a form! Thanks, it's not as if I did not have enough on my plate personally and professionally . but that aside, now gets to make the society that has the audacity to say, “Where the right relationship under one roof”.

Best Answer: As soon as HMRC receive the P46 they will issue a new code for you so you will get the tax back through the payroll. There is no reason for you to wait til April.

Reply: Kdee…I'm not familiar with what a 982 is, but the IRS told me I'd have to file an amended form (1040-X). I'll have to look into what a 982 is…if you have info, it would help. This IRS is one animal…I reside (for now Taxachusetts) and they are another matter.
I can't say that I know that much, but Iwas told Form 982 is what you fill out if you received a 1099 but are not required to include it gross income due to insolvency (doesn't have to be BK). I thought maybe if you didn't have to include it in income then the Forum 982 could be submitted without having to change any other tax forms.

Reply:Just my 2 cents – I've never been in this situation and have no legal knowledge/expertise, but I think I'd want to get some answers from Chase before I'd file an amended return (and know what year to file it for).
1) How did they come to the figure that they (Chase) forgave $1300 when you paid $700 of the $1300 due?
$1300 – $700 = $600. So wouldn't all they "forgave" be $600?
2) if you settled in 2003 shouldn't you have gotten the 1099-C in Jan/Feb 04 (for filing with your 2003 taxes) instead of getting the form (in Jan/Feb 06) for 2005 tax year?
3) what year did Chase "forgive" this debt & wouldn't that have some bearing on what tax year the 1099-C should have been issued?
4) could you ask for documentation from their files asking them to prove written proof showing the amount from your account they wrote off & the date written off since the figures they are using doesn't make sense after your $700 payment.

Reply:Chase is the devil…'nuff said…

Reply:Can you file 982 by itself without having to resend everything else?

AmEx Delta Skymiles just got canceled [delta skymiles] [alliant credit union]

admin — Mon, 17 Oct 2011 18:06:00 +0000

Well, I am logged in my account was closed today and my Amex card. What do I owe? Request a CLI and xferring $ 800 to a U.S. bank account (0% interest 0 bt fee) . 2 new accounts in recent months, Alliant Credit Union and U.S. Bank. I've never had a late payment on an account and no bad guys to any report other than TU. I pay the 116 $ I had on the card and never shop with them again

Reply:I am so glad I don't have an AE card.

Reply: Well, I logged in to my Amex account today and my card's been closed. What am I guilty of? Requesting a CLI and xferring $800 to a U.S. Bank Account (0% apr 0 bt fee).. 2 new accounts in the last month, Alliant Credit Union and U.S. Bank. I've never had a late payment on any account and no baddies on any report other than TU. I'm paying the $116 I had on the card and never doing business with them again
sorry to hear about the closure!

Reply: My concern with this is the rewards loss. If OP had xxx skymiles on the account, are those gone?
SKYMILES do not get lost that are in the DELTA SKYMILES ACCOUNT
The only thing that "MAY" happen is the last statement miles won't get paid
(BUT MINE WERE PAID AFTER THE ACCOUNT WAS CLOSED FROM THE LAST STATEMENT) YMMV

Reply: Paying your bill increases your internal risk score at AMEX.
Paying and transferring are different.

Reply:My concern with this is the rewards loss. If OP had xxx skymiles on the account, are those gone?

Reply:Paying your bill increases your internal risk score at AMEX.

Reply:Sorry to here that OP, I am just waiting on my CLD or close
for only Credit Secure monthly charge now and PIF before statement
cut at the Amex travel services office no less.

Reply: Exactly that. Low amount, probably varies from lender to lender and from risk model to another, etc. Many risk models consider low amount and not being able to "just" pay in full to be sign of inability to support spendings.
+1 on the small balance transfer.
Add to that sub-700 FICO's, 2 new accounts in one month and a derogatory on TU. OP was triggering every one of AMEX's AA flags.
I'm really not going to miss AmEx. I got in with Alliant and a nice 0% card at U.S. Bank, and cut my utilization almost in half. I only used the AmEx card at Costco.

Reply: Exactly that. Low amount, probably varies from lender to lender and from risk model to another, etc. Many risk models consider low amount and not being able to "just" pay in full to be sign of inability to support spendings.
+1 on the small balance transfer.
Add to that sub-700 FICO's, 2 new accounts in one month and a derogatory on TU. OP was triggering every one of AMEX's AA flags.
Maybe. But the TU derog would not have been on their list.

Reply: Requesting a CLI and xferring $800 to a U.S. Bank Account (0% apr 0 bt fee)..
Did you request low BT amount from AmEx to US Bank? it may be why… CSR and AA letter won't be able to tell you exactly why as it's the computer picked up the risk.
Not sure what you mean by low BT amount. I requested $800 and received it. $1k limit on AmEx 2k on US Bank.
Exactly that. Low amount, probably varies from lender to lender and from risk model to another, etc. Many risk models consider low amount and not being able to "just" pay in full to be sign of inability to support spendings.

Reply:Sorry to hear OP.
It really looks like just about everything is a potential trap with American Express!
Why don't they make life easy for everyone and stop offering features/services that they'd rather customers not utilize? Customers can then use their cards with confidence and responsibly.

Reply:bummer…………
It's a bloodbath out there………

Check thi out! [emotional train] [bankruptcy case]

admin — Mon, 17 Oct 2011 14:46:00 +0000

To everyone who is going through the horror of bankruptcy like I am. If you are so stressed out you can’t sleep or think straight. If you have all these negative thoughts and worries about what may potentially happen in your bankruptcy case and in your life. If you are an emotional train wreck. Then take a look at this website: http://www.emofree.com/ . This technique has been an absolute blessing for me. It Works!
No! I am not an affiliate for this site. I am someone who is going through the same challenges as you are and was desperate to get their head together.
Download the free e-book and give this a try. It just may give you the strength and piece of mind you are longing for.
Good luck and God Bless,
Tony

Best Answer: I can show you how to drive 1 million to your website and you will know that they have viewed your website and your ad
It's free to sign up. Anyone who wants the link can e-mail me from my profile,as to not violate rules on this site

Reply:Sheesh. Some people need to find a life.

BK address is not even listed on report [cr 39] [equifax]

admin — Mon, 17 Oct 2011 11:26:00 +0000

I'm trying to remove a BK from 8 years ago and i have seen people do this by deleting old addresses from their CR's. Both TU and Equifax do not list the address where the BK was filed at. Any idea how to remove it?

Thanks

Reply:If they don't have the address listed, just dispute the BK as not yours with something wrong reporting in it. You might could try obsolete but you might need to wait 9 years to do that?

For people with Orchardbank unsecured credit [unsecured credit card] [annual salary]

admin — Mon, 17 Oct 2011 08:06:00 +0000

Who unsecured credit card and does not work?
What have you for
Applicant in annual compensation and other household annual income? If your does not work, what have you in for Employers Name:
Any tricks

Reply:
guy, I am sorry if you were offended in anyway by my answer to your question, however, I do not believe I was that harsh, as others have said. I will tell you why? I went back and read all your previous post and it seems that you have made different claims about your employment or lack there of. I understand you say you DO NOT WORK, Then you say, I WORK AT HOME, Then you say you sale stuff on ebay, then you say YOU ARE ON SSI/SSDI?
I DO NOT ANSWER QUESTIONS unless I feel that I can help, so In all honesty, you may have taken my respnse as being negative, however, everyone needs to go back and really read the question and you may see the point of view that I took.
guy, if you are on SSI/SSDI you do have a source of income, this is what the credit card companies want to know. You have also said you work at home, selling on e-bay, therefore you are self-employ,independant contractor,however, if you recieve SSI, please be careful about how much you use the self-employeed title, because it could come back and hurt you, and god knows we all have to scrape to get by these days. I would put for employer:SSI/SSDI Income: TOTAL OF MONTHLY SSI/SSDI BENEFITS x 12 MONTHS.
Again, Your conflicting previous post lead me to believe that you were trying to do something that would end up hurting yourself in the long run. I would never want to give you any kind of info that would do that, so if you took my post as being mean or harsh, I am sorry. If you do as I have said above about who to put down as your employer and income, you will be safe and legal. Good luck in all you dream.
Angelweezy

Reply:guy, you just asked the same question yesterday and stated that you were working from home. You got several very good answers. SOOO that being said I quess I would have to join Angleweezy and ask the same question?????WHY??????

Reply:
This is a lot of assumptions about someones charactor that you don't even know!! I have an orchard and I also put self employed but did not say exactly what type of work I did and I was approved. guy start with that and see what happens. I beleive that they don't look at that kind of stuff anyway when your credit score is above a certain number IMO. As a matter of fact they contacted me and I applied then. I also have'nt had any problems with them, but I do make sure that I pay them ontime so I keep a deceit interest rate. If your late just once in a 12 mth period they will jack up your interest rate, so they told me… I hope this helps and be blessed

Reply:You can put Homemaker as the employment and then just put the total household income.
ETA The Homemaker is intitle to their own personal credit separate from their spouse (I'm not advocating divorce) and CCC's are receptive to that and will grant credit cards to the unemployeed stay at home spouse.

Reply:
Wow !
I have a friend, she keeps her husband as a permenent student to collect grants, she pays her bills for the year with the grants then collects welfare.They have no intentions of ever working if they can help it.
She was approved for
Chase 6000
Home Depot 2000
and some other card for 2000
All with no real income.And is one of those that absolutely works the system which often angers me to the point I have considered turning her in .She even has it figured out how much a year one of them has to work in order to collect the earned income tax refunds. And I could go on about the schemes she has blows me away as we have only ever collected unemployment for a short period of time while being layed off.
I am sure she lied about her income to get the cards .She now has them all maxed out, I do know this has stressed her out and IMO she is headed down a road that I would want no part of.
Now, if you were approved for a secure card start there. If you are doing credit repair and getting back on your feet, get going.
Be smart about your credit decisions. Earning what you deserve is much better than lying/ cheating your way thru it.
Good luck
Now on the flip side, what she has done is maxed them all out.

Reply:At the time I applied for the Orchard card I was doing contract work and had been between gigs for about a month.
I used my income over the past 12 months, and put "Self" as my employer.

Reply:WOW ! That was pretty harsh guy maybe the OP is like me trying to re-establish his / her credit but would also like to see if there is anything that they missed to be denied. I was denied for 2 recent accounts that I thought I would get ,but I would sure like to know if there was anything I could have put in different that really would not have been overboard. I think your post was really inconsiderate and if you couldn't or didn't want to answer his/her question then you should not have responded at all.We are all in different situations and should try to be as positive as we can to each other without assuming or jumping to conclusions about one's personal situation. GOOD LUCK KENO !!!!! I hope someone will answer your question or direct you in the right path.

Reply:I would be curious to know why you are trying to obtain a credit card in the first place, if you have no income/job??? I would not be an advocate to lieing on any application,it could come back and bite you. If you are trying to clean up your credit reports, like 99% of the people on this board, I would say what you are trying to do is only gonna get you into more trouble credit wise.
However, if you are a stay at home parent, and your mate works, you may have no choice but to allow him/her to obtain credit and add you as an authorized user. I do not think you will find any place anywhere thta will give you any amount of credit with out a job. Even Crown Jewelers requires you to have a job.
Others on this board may see it different than I do and they will tell you so and correct me if I am in the wrong. Good luck,sorry I could not tell you how to get over on a credit card company, no matter how good or bad they may be.
Angelweezy

Anyone heard of this lender? [lending group]

admin — Mon, 17 Oct 2011 04:46:00 +0000

Sherbourne Financial Services Lending Group?
Approved for 5000 and wants to pay me to 791 front for the first 5 payments?
They say, is to show, I will pay for the loan as my credit hammered.
What do is think of you?

Best Answer: I think the bank that is giving you the mortgage thinks that the house you are buying is in a poor state of repair. In order to give you the mortgage you require, the house needs to be upgraded with repair to have equitable value.

Reply:Try prosper.com.

Reply:Well that is what I thought. Im screwed iv tried every lender there is for a small biz loan with no luck, and my credit stinks so i guess im giving up on this.

Reply:……………..Scam Central……………..Run Like H*LL !

Reply:Check this FTC page on these scams.
The fraudster uses a name similar to a real bank's name.
Run away fast.

Reply:The old advance fee fraud scam. You'll never see the $5000 or your $791 again.

Reply:The old advance fee fraud scam. You'll never see the $5000 or your $756 again.

Reply:Welcome to SCAMCO, Inc.
Run away fast.

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Old Utility Bill Slipped Ex's Mind [bk] [debts]

admin — Mon, 17 Oct 2011 01:26:00 +0000

Good Day,
Upon husband moving out I put utilities that were in his name in my name per his request. We both got laid off later & we went thru BK. We were discharged 8/25/08, Michigan. I have yet to start the divorce.
I just moved out of the foreclosed home and got my final gas bill. They added HIS past due from 10/06, $85.00. He didn't disclose this amount when we went over all the debts on our credit reports.
Should this amount be included in BK? Or are we (meaning HIM) responsible?
Thanks in advance.

Reply:Was the utility co listed as a creditor in the BK?

Reply:I checked a pdf I saved from Pacer and it's not listed: "label matrix for local noticing".
Thanks.

Reply:Does anyone know if I should just call the utility and give them the Bankruptcy case dates, case number & attorney name & number?
Or does the debt have to be listed in the Bankruptcy matrix?
I have to pay the my final bill by May5. I emailed my attorney, no reply.
Hoping to get opinion here before I call the ex & tell him to cough up $85.00. I
'm trying to rebuild my credit and I don't think they should be able to take an amount that was in ex's name should just be dumped on my account that I opened after he moved out.

Reply:
It's good news!
I gave the Bankruptcy case number and my attorneys name to the utility. A few days later I finally heard from the attorney who told me in order to be discharged it should have been listed, but that maybe by sending a copy of the discharge maybe they would take it off my bill. When I called to get a status and a fax number, I was told the$85 on my bill was discharged. WHOOOHOO!
I had them fax a copy to me for my records.
So bottom line, if you forget to list a debt when you file, and they try to bill you after discharge date, go ahead and give the case number and attorney's name and see if they'll remove the debt.

Do you add tax before or after companies mark up? [fruit stand] [good answer]

admin — Sun, 16 Oct 2011 22:06:00 +0000

Can someone give me a good answer to this?
If I have a fruit stand and I buy apples from a farmer for 0.10 / apple and I have set up a 50% mark so that the apple does 0.15 cents.
Do I add the control to the 10 or 15 cents ?
So with control and marking of the apple is 0.1605 cents
all separate his .007 (not even a penny) by a tax on an apple plus the 5 cents.

Best Answer: When you dispute it with the Credit Reporting Agency they request validation from the Company in question. If they do not respond in the time(30 days) they automatically remove it. Now, if at a later time the company does finally respond it can be put back on there.

In order to get it removed permanently you need to dispute it with the Collection Agency directly requesting debt validation. They have 30 days to respond to you, and after that 30 days you can then write the CRA and have it removed. In this case they can not place it back on your report until they have validated the debt with you. The link below talks about debt validation, the only thing to be sure of is that you send your dispute by certified mail with a return receipt to be sure they got it.

Now if they do validate the debt with you, you will have to work out getting that taken care of with the collection agency.

Reply: Like Centex said, you really need to know the local laws on this. In some states the labor part of a contractor's job is taxable and in others it is not. The materials furnished by a contractor would usually be subject to sales tax based on the retail price charged by the contractor to the customer.
LABOR IS NOT A PART (something you can touch with your fingers)…how could you charge tax???

I think in my state, labor is taxable on businesses but not on persons… or what I mean is a co having work done (like having a maid clean there office) will be taxed on labor but a individual who has labor done (like having there house cleaned by a maid) will not pay tax on the labor.
YES…THE PROFIT FROM THE LABOR FOR A BUSINESS IS TAXABLE
I thought you trying to say that the customer had to pay sales tax on the LABOR
Hmmm, in my state we pay sales tax on labor so YMMV.
As the the original question, cost + profit are added together and that is your sales price. Sales tax is charged on the sales price.
GREEDY STATE
Ahhh, yes. One of the greediest.

Reply:Like Centex said, you really need to know the local laws on this. In some states the labor part of a contractor's job is taxable and in others it is not. The materials furnished by a contractor would usually be subject to sales tax based on the retail price charged by the contractor to the customer.

Reply:Centex
I think your hitting the nail now.
I just used food for an example the goods are instead a service with contract materials for the job.
Sorry to confuse anyone. Thank you for your input.

Reply: Can anyone give me a good answer on this one?
If i have a fruit stand and I am buying apples from a farmer for .10/ apple and I have a 50% mark up so that makes the apple .15 cents.
Do i add the tax to the 10 or to the 15 cents?
So with tax and mark up the apple is .1605 cents
all separate its .007 ( not even a penny ) of taxes on one apple plus the 5 cents.
Some states like CA don't have sales tax on food (unless they have changed that recently)
But CO does
SALES TAX is on the final sales price of the item
Sales tax can be rounded up (following standard basic math rules)
$0.007 = $0.01

Reply:Sales tax on eligble items will be calculated in a manner proscribed by the law in that particular jurisdiction. It is GENERALLY based upon the selling price of the item.
Tax on profits is separate from the sales tax remitted to the taxing entity…

Reply:Hegemony
Therefore its added to the price and profit of the item in the store.

Reply:I always calculate sales tax on the total amount of the sale. if I buy $10 in taxable items, I pay my tax on top of that.
For food, I think I pay no tax on apples and milk as some items, at least where I live, are tax exempt like milk and bread.

Reply:isn't sales tax on the sales price?