I have a Chpt 13 (opened in 1996 and discharged from 2000 to 2000) on my credit report. Looking through my credit report I've found that has lasted for a finance company debt under the chpt 13th Re covered wrote it as a new debt (there was a new account number) and had it put on my credit report as an active account. When I contacted them I advised them this was not a valid account number and must be off my credit report pulled. I was informed that they do not remove, because I still owed them the money. They advised me the credit Berau, and they have dispute. I did this and it did than on an active account on an inactive account charging moves. I always have copies of everything I sent and to whom I spoke with the dates. Is there a way I can get this from my credit report?
Best Answer: I don't know what's happening in Australia, but in America, many banks gave out loans for houses, they wrote the loans like traps, where the loans are affordable for a couple years, but then spike in costs to pay back. They couldn't pay the loans, so they got kicked out of the houses with nothing but debt to show for it. In the meantime, because the lenders had given out so many tricky loans, the houses that came on the market weren't being bought up fast enough, and the value of houses crashed (huge supply, small demand) so all the money the lenders gave out wasn't coming back, and even if they could sell a house, they'd sell it at a loss. Meanwhile lots of average people trying to sell houses lost big because of this collapse.
The lenders who initially screwed people over are going bankrupt. The people who lost their houses are in the hole. The people who sold their homes are in the hole. The real estate agents who can't sell any homes are losing their jobs.
All that money is disappearing in those houses that nobody will buy, or will buy at very reduced prices.
Most people really didn't care much about any of this until the lenders went completely bankrupt, then people panicked and the stock market crashed. The stock market is basically gambling, and people gamble based on emotions. If people feel good, stocks go up, if they feel bad, stocks go down. Other factors come into play in the long run, for example lots of people are trying to buy up the stocks cheap, because they think the stocks will rise again. Their buying raises the stocks temporarily, but bad news is coming almost everyday and stocks go down again. Currently though, this isn't a solid economic crisis, but it has the potential for being really bad. It depends on how the government and how businesses react.
America's money, businesses, and trading is global, so there is bound to be global effects to any positive or negative economic issues.
Reply:Sorry to reply so late, the servers were really slow last night and I didn't wait for the pages to load.
At any rate, it appears that your e-mail isn't enabled either, so I will have to post a link. This board gets alot more traffic than Free Advice Forum, and I would also suggest perusing the message boards. I'm giving you a link to the sample letter I think you should use. [url]http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=85495#post85495[/url]
Reply:Thanks for the inf. I do need a copy of that letter but it appears that your e-mail is disabbled at this time. Can you send me a copy or tell me where to go on line to download one?
Reply:Send the new finance company a validation letter. This should take care of it. I would normally tell you to use a very simple letter, but in this case, they are breaking the law. I think my email is enabled, so if you want a sample of what I'm talking about, e-mail me and I'll send it to you.
Good Luck!
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