Quote:
Originally posted by notcasesensitive
So, I know you are all dying to help me out more with my Credit-Impaired Ex-Husband and resulting credit woes, so here it is:
Bank is saying that they made some efforts to contact me (calls to some number they had on file 6 years ago or whatever) and that the only way this comes off my credit is if I pay off entire amount. I may have a couple of months to do so, we haven't really gone into specifics because I did not agree on the phone that I would do so.
I'm 99% sure that they did not follow the letter of the state fair credit reporting law, which requires the mailing of notice w/i 30 days of putting something on my account. I need t owait to see the letter that they claim they mailed in July that I never received to confirm.
I could also settle the debt with them for less, I'm sure, but a write-off/settled claim will be on my credit for the next 7 years or whatever (I know I can send in a comment, but the effect on my overall score is what matters to this needs-to-rent-an-apartment-soon chick).
I can go after ex and get a judgment, and maybe even garnishment of wages at his new job that is supposed to solve all his credit woes. I'd guess, given the way he spends money as compared to the way he earns money, he'll be able to pay me like $100 per month for the rest of his life. Factor in that he is a smoker, a drinker and has only one kidney (christ).
What do I do? Should I really settle for less and put up with crappy credit that is not my fault? That so goes against my instincts because I hate the idea of being punished for his crappy lifestyle.
Finally, is the break the kneecaps offer still good?
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Before deciding on anything, as I mentioned before, you should dispute EVERYTHING the bank says in writing. Even though you signed on as a guarantor, you have some basis to complain about the bank's method of seeking to recover the debt from you. You don't know that a very assertively worded letter citing the crap out of state and federal fair credit reporting requirements won't cause them to step back. If you can cite a technical violation, you are on pretty good ground to get some concessions.
There is nothing to stop you from demanding that they remove the negative report from your credit report by sending corrections to the credit bureaus, and if that works (it very well may), THEN you can try to negotiate a settlement for x cents on the dollar. They can't do you any more harm with respect to credit reporting than they already have, so an assertive but not abusive letter may do you more good than you anticipate.
Only pay it off to avoid the negative credit report after you're certain you can't get it removed, even if only temporarily. That will buy you time to get into your apartment -- although it seems unlikely this could hurt your chances. The landlord should be more interested in your debt-to-income than in one aberrant negative report relating to a deadbeat ex.
And remember: calling will not preserve your rights.
