Crazytree said:codename47 said:CN, I would have expected no negatives on your credit. I'm not trying to be insulting but how is your score this low? Are you able to get credit or do AORs?
I've done AOR's, but I decided to quit playing the credit game, and I decided to do the nuclear option and quit paying.Not to harass you... but tell them why you "decided to do the nuclear option".

Is there a thread about this somewhere? I seem to have missed the topic about pressing the big red button.

I didn't follow everything here, but I found the parts I read to be very pleasant and informative

now I will be waiting for OP's update

jidteach said:Fbone said:codename47 said: What the collector reported was not accurate,

Which at this point is unproven.You sound like the collector.

If we can agree that interest - which was not provided for in the agreement with the original creditor but added to the account by a collection agency - is not allowed under CA law, and agree that the collection agency reported that unlawful amount to the CRAs - you will have to trust me on this part, but they did - then the report is not accurate under the law.

I found this statute regarding added interest from the California Dept of Consumer Affairs website:

Prejudgment interest. Prejudgment interest is an element of damages that is subject to and
limited by legal rules. For instance, if the prejudgment interest rate is not specified by contract, a
debt arising from a loan of money bears interest at the rate of 10 percent per year after breach,(*71)
and no more.
*71. Civil Code § 329(b). The rules on pre-judgment and post-judgment interest are summarized at 1 Consumer Law
Sourcebook (Department of Consumer Affair s, 1996), § 13.2 1. Non-credit sales agreements often call for 1.5% per month for
delayed payment. 1 Consumer Law Sourcebook (Department of Consumer Affairs, 1996), §§ 13.27-13.32. A demand for even
a small amount in excess of a statutory ceiling constitutes a violation. See Duffy v. Landberg, 215 F.3d 871 (8th cir. 2000).

So, interest up to 10% can be lawfully added. Regarding reporting disputed debt, the DCA also says that the debt collection agency can report disputed debt to credit reporting agencies provided they notify them the debt (or portion thereof) is in dispute. Alternatively, you can also notify the credit reporting agencies that a debt is in dispute.

arch8ngel said:Crazytree said:codename47 said:CN, I would have expected no negatives on your credit. I'm not trying to be insulting but how is your score this low? Are you able to get credit or do AORs?
I've done AOR's, but I decided to quit playing the credit game, and I decided to do the nuclear option and quit paying.Not to harass you... but tell them why you "decided to do the nuclear option".

Is there a thread about this somewhere? I seem to have missed the topic about pressing the big red button.He was advising people here to invest all their AOR money in Countrywide stock.

SUCKISSTAPLES said:Crazytree said:arch8ngel said:Crazytree said:Not to harass you... but tell them why you "decided to do the nuclear option".

Is there a thread about this somewhere? I seem to have missed the topic about pressing the big red button.He was advising people here to invest all their AOR money in Countrywide stock.
Actually I believe it was NovastarIt's possible... the one I remember was Countywide a few days before Countrywide "went nuclear".