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Subject: Moral Support for upside homeowners
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OBG IIUser is Offline

Posts:630


06/10/2008 8:38 AM Alert 
mmmmmm....would be very interesting to see how one contests a BK or a court ordered judgement.

Yep, LP is right...urban myths and a lot of smoke.

Carroll O Connor, aka Archie Bunker, a great American!
JAGUser is Offline

Posts:740


06/10/2008 11:57 AM Alert 
Posted By Cactus Rob on 06/09/2008 8:38 PM
Posted By JAG on 06/09/2008 12:20 PM

If you formerly contest any charges on your report, and they do not give response back to the agency within a certain amount of time it will be removed from your report. Its not that hard to get your score up 100+ points within a year or so.

Are you saying that if you contest a negative entry, even if accurate, enough times, you can get it removed?  And if that is what you are saying, wouldn't that just destroy the credibility of the entire report?   

Yes and no, there is a legit reasoning to why you can do that, I am a prime example as to why this is legit. We had a company put a $16k loan that was passed due for 180days on my report in Jan, basically the company bought out our leinholder for a van at the sametime that we paid off the van, but their system did not show we paid it off and auto-reported out of the blue. I contested it and they did not respond back to us in time, it was completly removed from my report.

There are also companies out there who delibertly put a $40-50 loan on your account and bank on that you will just pay it off.

JAGUser is Offline

Posts:740


06/10/2008 11:58 AM Alert 
Posted By OBG II on 06/10/2008 8:38 AM
mmmmmm....would be very interesting to see how one contests a BK or a court ordered judgement.

Yep, LP is right...urban myths and a lot of smoke.

With a good lawyer, anything is possible. Look at OJ.

thickUser is Offline

Posts:653

06/10/2008 12:32 PM Alert 
Posted By JAG on 06/10/2008 11:57 AM

Yes and no, there is a legit reasoning to why you can do that, I am a prime example as to why this is legit. We had a company put a $16k loan that was passed due for 180days on my report in Jan, basically the company bought out our leinholder for a van at the sametime that we paid off the van, but their system did not show we paid it off and auto-reported out of the blue. I contested it and they did not respond back to us in time, it was completly removed from my report.

There are also companies out there who delibertly put a $40-50 loan on your account and bank on that you will just pay it off.

But then that is a legitimate thing to contest as it was an error, yes?  To go through and contest legitimate dings in hopes of companies letting you slide would be dishonest.  Not that it wouldn't possibly work, but that would be too sleazy for my liking.

azcopaUser is Offline

Posts:103

06/10/2008 1:54 PM Alert 
Maybe lenders will have to go back to the old days by evaluating credit reports by actually reading the reports and requesting explaination of certain bumps in your history, instead of just relying on a number. Otherwise, with the way things are going there won't be anyone left with a good credit score and no one to lend any money too!
JAGUser is Offline

Posts:740


06/10/2008 6:34 PM Alert 
Posted By thick on 06/10/2008 12:32 PM

But then that is a legitimate thing to contest as it was an error, yes?  To go through and contest legitimate dings in hopes of companies letting you slide would be dishonest.  Not that it wouldn't possibly work, but that would be too sleazy for my liking.


I agree, just showing why such a thing is in place.
AzSandSlingerUser is Offline

Posts:772


06/11/2008 3:50 AM Alert 
Are you saying that if you contest a negative entry, even if accurate, enough times, you can get it removed? And if that is what you are saying, wouldn't that just destroy the credibility of the entire report?


A few years ago this was true.. and still is.. just less and less..

You dispute all the negatives on the report.. and the creditor has to prove the item is legit within a certain time.. if they fail, it gets removed..

A few years ago this was done via snail-mail.. nowadays, it's mostly done electronically.. so the chances of wiping out legit negatives are not so good..

-Shane

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JAGUser is Offline

Posts:740


06/11/2008 2:51 PM Alert 

I think with the current economy it may be easier with all the cut backs in the banking industry.

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