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Author: astrozomby Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308691  
Subject: Situation/Questions :-) :-( Date: 6/6/2001 8:17 PM
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Thought I would throw this on the board as I have been lurking about for a few days now reading and reading.

Statements:

1. I made the stupid mistake so many college students do, used those damn cards. Then got into a slump of unemployment after a misleading job offer left me moved into a different state and out of work. Here's my finger up to KMIR Palm Desert for that one.

2: Happy Dance One - Paid off one of those accounts a month or so ago. :-)

3: Gearing up for Dance number two. Will be paying off another one next month, possible this month. Leaving two to go, which should be done by the end of the year.

4: I used one of the Credit Counseling Services to get 3 of these guys paid down. DCA.org which became myvesta. They were helpful in the beginning when collections morons were calling and harrassing me when they were not supposed to be.

Questions:

A - what is up with these stupid 35% interest CC offers? Like I want a higher interest rate (by 2 or 3 times) what I already have. Is this even legal?

B - one of the creditors (the one about to be paid off) appears to be issuing statements to Experian that they are not receiving payments when I have not missed a payment in well over a year. What is the fastest way to get this corrected as I don't feel it is right for them to file claims that they have recieved no payment recently.

C - I'm looking to kill one other rape and pillage CC by either a balance transfer or trying to get some type of personal loan to pay it off. I don't personally need to keep the acct open, and the bank hasn't exactly been nice about anything, so I'd rather not let them get the interest, I'd rather have the balance as non-revolving.

D - Also regarding the credit report, they seem to have about 15 versions of each address I have lived at. Can I ask for these to actually be removed?
Example: They have one address 3 different ways (literally) it has me at the street address, at the street address - building number, and at the street address - building number - apt number.

I guess that about covers it.
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Author: ScrapinBy Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75049 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 11:47 AM
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AstroZomby,

Welcome to the board.

A - These cards are for suckers and desperate people. I think anything over 20% should be illegal, but evidently it's not. That's why people on this board feel some CC companies are predatory in nature.

B - I would write directy to Experian and dispute this. They will write to your creditor and ask for verification. I believe you can also do this on Experian's website.

C - I also wanted to close my paid off Capital One card, because they weren't consumer friendly. I decided to keep it open for a while to show available credit that I wasn't using. I will probably do the same with my FUSA when I get it paid off. I'm still dying to close them, but at least they won't be getting any more of my money.

D - You may also be able to clear this up on Experian's website.

Bret



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Author: astrozomby Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75053 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 11:54 AM
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Thus far, experian seems to be internet UN-friendly.
From what I have seen, portions of the site are horribly done (from a coding standpoint) to the point where a floating window was blocking essential function buttons. But that is technical issues.

I have written to one contact email which the reply was simply basically, call the number on your CR and never write this address again.

I haven't been able to find any online forms at experian, so I guess they are still pretty much stuck in the snail mail days in terms of actually dealing with consumers.

Anyone know where one might be able to "correct" information on experian's website?

Thanks for the replies!

-AZ-

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Author: conick Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75078 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 1:41 PM
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I could be wrong here but...
Isn't the credit card companies (CC) responsible for reporting change of address (and other info) to the credit reporting agencies (CRA)? I would think if ALL your open credit lines with a CC have the right address, the CRA's would also.

Like I said... I could be wrong.

Good Luck

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Author: SpaceEngineer Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75083 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 2:04 PM
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Anyone know where one might be able to "correct" information on experian's website?

Experian works through local agencies. Your reports come from them and corrections go to them. I have a week-old experian report in my hand, and the place to contact is listed in the upper right-hand corner of the first page. For example, in my case, it is Credit Data Services, Inc, of Orlando. I wrote CDS with corrections on 15 May and received an updated reported on 29 May. (I am still waiting to receive the first copy from Equifax from a letter I mailed 8 May - this is all due to fradulent accounts opened in my name.).

The three CRA's have varying levels of Internet and phone services. On one hand, I appreciate the ease in being able to call or fill out a form and them saying, "We'll drop it in the mail." On the other hand, I like that they are making it hard for more fraud by requiring written documentation with proof such as a copy of a driver's license or a current phone bill.

They should correct incorrect addresses. I've had it done. It hurts the CRA to have incorrect information on their records. They don't want to sell inaccurate address lists, do they? ;)


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Author: aja91 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75092 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 2:26 PM
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A - These cards are for suckers and desperate people. I think anything over 20% should be illegal, but evidently it's not. That's why people on this board feel some CC companies are predatory in nature.

Some states do have usury laws which limit the interest rate which can be charged on different types of loans (including credit cards). Check with your state attorney general's office to see if this applies for you.

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Author: astrozomby Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75117 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 3:36 PM
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Sometimes, California really sucks.
Thanks for the idea on where to look aja91.

-az-

http://caag.state.ca.us/piu/usury.htm

Time payment contracts (for example: retail installment contracts and revolving accounts) are not generally regarded as loans. The usury laws normally do not apply to them. There are no limits on finance charges for the purchase of personal, family and household goods or services at this time. Banks take the position that the charge for third party credit cards (Visa, MasterCard, American Express, etc.) are not subject to these limitations.


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Author: FixitWoman Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 75144 of 308691
Subject: Re: Situation/Questions :-) :-( Date: 6/7/2001 5:18 PM
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I could be wrong here but...
Isn't the credit card companies (CC) responsible for reporting change of address (and other info) to the credit reporting agencies (CRA)? I would think if ALL your open credit lines with a CC have the right address, the CRA's would also.

Like I said... I could be wrong.


You'd think so, wouldn't you? I got married last year in September. As of May 25, Experian still shows my maiden name even though I've changed it with both credit cards and my car loan. (And purchased a house in March!)

Kim

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