Archive for May, 2010

Has anyone else had this experience with Wells Fargo?

May 25th, 2010

I have a car loan with WF and owe 3063 and some change. When I got the loan I was making double what I do now and making my payments were easy. Over the last two years, I fell on hard times (haven’t we all) and called the company to ask for help and to see what my options are/were. I was told I could put in an offer to settle below what I owed if I could prove I wasn’t making what I was when I originally purchased the car. I gave them an offer and they accepted. I was told that I would have the paperwork faxed to me and that I was the proud owner of my car!!!

The next day (original call was a Tuesday), I got a call from a different person saying I still owed 900 bucks and that my car was in repo. When I told them I had spoken with (Moron’s Name witheld) *** and that we were settling the account, I was sent to a manager and told that Moron, didn’t have that authority and that basically for 2 days I was lied to. When I lost my cool and reiterated my entire 2 day ordeal, I was told in no certain terms too bad, so sad. Has anyone else had horrible experiences with this company? I cannot imagine that I am the only one that has had problems. For two weeks they called me 12-15 times a day, and actually called my job and demanded that I speak with them, because I had stopped answering my home phone. When I told them I could get fired for getting personal calls they told me “well, we’d stop bugging you if you would pay us.” I understand they are in business to make money but to be degraded and belittled is very upsetting and to be sent to repo for no good reason, seems a bit extreme.
I was screening them, I have 10 different numbers saved in my phonebook for them. Because I didn’t pick up my phone anymore, they called my work, they are crazy.

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Will my credit scores allow me to get a mortgage at a goord rate?

May 25th, 2010

My question is will I be able to get a mortgage with good rates with the scores I have now?

I am 23 and my credit scores are: 582 Trans Union, 552 Experian, and 545 Equifax.

I have a number of medical bills that went to collection while I was in colllege. I have been paying those medical bills back a little at a time (I have a payment plan with the collection agency). And have two 30 days late (almost a year ago) on my car loan, and a 60 days late on a student loan.
I recently applied for a new secured credit card (which I hope to receive any day) and have been listed as an authorized user on my cousin’s credit card. My cousin has had her credit card for 2 yeas and has never been late.

I am currently working with a law firm that has actually gotten 6 items deleted from the three reports. So, my scores are a little better than they were.

I just feel that it is not right to be punished for getting sick (I had cancer) and not having insurance.
My current scores are 559 TransUnion, 618 Experian, and 557 Equifax.

The reason the Experian score is so much higher is that a new revolving account (my cousin’s credit card) has reflected on that report. I am expecting the credit card to reflect on the other reports soon.

If the other scores jump anything like the Experian score, I expect the others to be around 610.

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Option 1 – Merchant Cash Advance

May 25th, 2010


www.option1now.com Option 1 provides working capital to business owners by purchasing future credit card sales. This is not a loan product, you pay us back a small percentage of your daily credit card sales until the balance is paid. We get paid when you get paid and there are no fixed time periods for repayment.

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I was 11 days late with my car payment they sent one of there representatives to my house is that legal?

May 24th, 2010

My car payment was due on the 14th it’s was money gram on the 25th on the 29th they sent one of there collection people to my house. Saying I owe interest on my law which I refuse to pay. When I’m one day late this finance company calls my house, my job my family even when I tell them my payment is gonna be late they still harass me until the payment is made, and this time they sent someone to my house to collect a payment that was already paid. My account was transfered to one of there other offices and I’ve never paid any interest payment up front on my loan. I told them to stomp call my job and my family members, my job has even told them to stop calling my place of work and they continue to call. I know to stop the calls is to pay my payment on time, but things happen as everyone knows. Do you know what she told me. Get someone to pay the loan off and they will stop harassing me. Can they do this legally by sending someone to my house like that. It’s not in my contract and I told them to send me a copy showing me they can do this. I’m in New Jersey.,

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BOA. Major problems loan modification! Has this happened to anyone else?

May 23rd, 2010

Bank of America (BOA) is telling us one thing and doing another. It is driving me NUTS. Please read the following few sentences:

“Except in . . . GA, HI, MO, and VA (I live in FL) . . .the Servicer (or BOA) will suspend any scheduled foreclosure sale, provided I continue to meet the obligations under this plan, but any pending foreclosure action will not be dismissed and may be immediately resumed from the point at which it was suspended if this plan terminates, and no new notice of default . . . will be necessary to continue the foreclosure action . . . ”

We are currently in the foreclosure process. BOA offered a loan modification trial period. The above paragraph is from the loan modification document. We had to return requested documents by a certain date. Done. We have to make 3 payments on time. They rec’d the payment before the paperwork. First payment done.

A week after paying/signing, I start getting additional copies of court filings from the legal group representing BOA. One is asking for summary judgment. I call the group and explain the papers that were signed and ask them to call BOA. I call BOA the same day and tell them that the foreclosure hasn’t been suspended. They said they would call the law group. Four days later I receive another legal filing. I call BOA again. They said they didn’t know why the foreclosure was still going on because they had told the law group 25 days before, to suspend the proceeding because of the modification. I call the law group again. They said that the agreement that was signed between my husband, I and BOA would not stop the foreclosure proceedings. They said BOA (who is the loan servicer) had no authority to suspend foreclosure. Only Freddie Mac did. So I called Freddie Mac. They say they have no problems proceeding with the foreclosure, as long as the house wasn’t sold.

I have a major problem with this. First of all the Freddie Mac insignia is on the contract. If Freddie Mac’s copyrighted picture is being used without their permission then BOA needs to be sued for copyright infringement.

The above paragraph says that if I don’t fulfill the contract the foreclosure would be “resumed”. I don’t know what dictionary Freddie Mac/the law group is using, but how can something be “resumed” if it was never stopped int the first place??? The paragraph doesn’t say that the proceeding would continue up to the sale of the house. It didn’t specify that the scheduling of the foreclosure sale was the point that the foreclosure would be paused or resumed from. It was ambiguous on where the point is, leaving me to believe that since it isn’t specified, it should be suspended now. It does say that the foreclosure wouldn’t be dismissed. I do understand the difference between a dismissal and a suspension.

At the beginning of the first paragraph it also states that the authority to suspend the foreclosure rests with the “Servicer.” It didn’t say Freddie Mac.

What is the truth?? Is this fraud???

This is a replay of what happened before. I was told that I had a forbearance. I rec’d an acceleration of the note DURING the forbearance. BOA said that during the forbearance they wouldn’t pursue any collection action. They told me it was just a formality. Well if an acceleration of the note isn’t part of the collection process, then I don’t know what is.

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