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My 1st question is: What card is more widely accepted? VISA or Discover Card? Many thanks for any answer. My other question... Hello I posted something in the bk forum because we were thinking about filing but we have decided to just try and get these things off our self. Ok I read and reread the newbie section and I think I have an idea of what to do just want to make sure I'm right before I try.. |
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That's a good question. I'm not sure what is the right answer to your question. I'll do some research in Google and get back to you if I bump into an answer. You should email the people at Discover Card as they probably could give you an answer..
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My advice.
SLOW DOWN.. I know this is hard, and with the dream of buying a house dangling in front of you it makes it harder to slow down. BUT YOU MUST. You don't want to make mistakes now that will turn your home into a burden, rather than a blessing.. Big problem here. Get him OFF those cards. They are KILLING your utilization, which in turn is killing your score.. Read this: http://www.myfico.co...nYourScore.aspx. Was nothing deleted on your last round of disputes? Or are they still out?. Did you dispute old addresses prior to disputing?. Do NOT send a PFD before understanding what is going on here, especially on debts that are probably beyond the legal SOL for your state and almost past the reporting SOL.. Prepaid cards will not help you. Secured cards will. How much can you put towards a secured card today? DO IT. I recommend USBank, but each person's circumstances are different. There is a huge secured card thread around here that will give you ideas. CJ does not report any longer and is ripe for fraud. As jtoast asked, we will need to know your state to help you with SOLs.. Have you triaged your report via PsychDoc's method? If not, use your most recent PAPER copies of your reports to do so. ASAP.. IMO, you have 3 big issues:. 1. Utilization. 2. Charge-offs/bad debt. 3. Lack of positive, open accounts. As for your collections, NCA and Portfolio are usually easily taken care of with a couple well-worded letters. This post has been edited by Jen23514: 27 January 2010 - 11:27 AM.. |
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Yea I meant to say secured not prepaid lol just getting a little excited..
I am in NC I'm not sure the legal sol or for the reporting sol?. I can put any amount on a secured card Ive read on here a $1000 should be good or even $500?. What letters do I write to NCA AND PORTFOLIO?.. |
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It will do NO good to post CA letters here when you don't know the "why" behind the letters...
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I know what the letters are, Im going to write a DV letter to them but on my report it only shows some of the account number so when I write that letter do I write whats showing? Hes way past the 30 day mark actually some of them haven't even sent him a letter and it's been about 3 years for the credit cards and prosper..
Like I said before he is an authorized user on 3 of them so he isent responsible for the debt right? so they should remove him right away?.. |
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If you have a paper report, it should show the full account numer..
Just because he's past the 30 day mark, he doesn't loose his right to dispute the debt.. Find out which debts are beyond SOL and which ones are still within SOL for NC.. As for the cards he is an AU on..... it is a matter of utilization. NEVER UNDERESTIMATE THE POWER OF UTILIZATION ON YOUR SCORES.. If the cards are maxed..... they are doing him NO good and hurting him quite a bit... |
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I'll get slammed for this, I'm sure, but wth. You should pay prosper. This isn't some big bailed-out bank you forked over there, it's just a slew of regular middle-class people.
If you can do a PFD, more power to ya. But asking regular joes for some help in exchange for a very competitive interest rate and then defaulting is..... yeah. You're not alone, Prosper had a rash of defaults, that's why Lending Club is eating their lunch now... |
