Please Advice what to do?

[pakca]

Please Advice what to do?
I got this letter in the mail and I do not owe any thing to FORD MOTOR CREDIT COMPANY. I do NOT have an account with FORD MOTOR CREDIT COMPANY.

Re: FORD MOTOR CREDIT COMPANY v. MY NAME was here
Prince William General District Court, Prince William County Client Account No. XXXXXXXXXXXXXXXX9383
Our File No. 09-23300-0
Balance to Date: $10,285.29
Dear:
This office represents FORD MOTOR CREDIT COMPANY with respect to your above-referenced account. This letter is regarding the judgment that FORD MOTOR CREDIT COMPANY has against you in the State of Virginia. Our client has forwarded the above-entitled matter to this office with instructions that we take appropriate action to effect collection of the balance on the account.
Unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid. If you notify this office in writing within 30 days from receiving this notice, this office will obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. If you request from this office in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor.
Please be advised that the state Rosenthal Fair Debt Collection Practices Act and the federal Fair Debt Collection Practices Act require that, except under unusual circumstances, collectors may not contact you before 8:00 a.m. or after 9:00 p.m. They may not harass you by using threats of violence or arrest or by using obscene language. Collectors may not use false or misleading statements or call you at work if they know or have reason to know that you may not receive personal calls at work. For theumQst part, collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 1-877-FTC-HELP or wWIN.ftc.qov.
This firm is a debt collector attempting to collect a debt. Any information obtained will be used for that purpose. If you have any questions or wish to discuss this matter, please contact our office.

[faith]

Originally Posted by pakca

Please Advice what to do?

Originally Posted by pakca

I got this letter in the mail and I do not owe any thing to FORD MOTOR CREDIT COMPANY. I do NOT have an account with FORD MOTOR CREDIT COMPANY.

Re: FORD MOTOR CREDIT COMPANY v. MY NAME was here
Prince William General District Court, Prince William County Client Account No.

Balance to Date: $10,285.29
Dear:
This office represents FORD MOTOR CREDIT COMPANY with respect to your above-referenced account. This letter is regarding the judgment that FORD MOTOR CREDIT COMPANY has against you in the State of Virginia. Our client has forwarded the above-entitled matter to this office with instructions that we take appropriate action to effect collection of the balance on the account.
Unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid. If you notify this office in writing within 30 days from receiving this notice, this office will obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. If you request from this office in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor.
Please be advised that the state Rosenthal Fair Debt Collection Practices Act and the federal Fair Debt Collection Practices Act require that, except under unusual circumstances, collectors may not contact you before 8:00 a.m. or after 9:00 p.m. They may not harass you by using threats of violence or arrest or by using obscene language. Collectors may not use false or misleading statements or call you at work if they know or have reason to know that you may not receive personal calls at work. For theumQst part, collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 1-877-FTC-HELP or wWIN.ftc.qov.
This firm is a debt collector attempting to collect a debt. Any information obtained will be used for that purpose. If you have any questions or wish to discuss this matter, please contact our office.

Hello there,
I am sorry to hear of your situation. You need to contact the credit bureaus and ask for a copy of your credit report and dispute this debt. You need to put a free 90 day fraud protection to all credit bureaus and do it fast.


You need to respond to the letter that was sent to you but do not acknowledge this debt. Ask for a debt validation. Example letter below:

• Your Name
  Your Address

Collector's Name
Collector's Address
Dear {insert name of collector or company},
I am writing in response to your (letter or phone call) dated {insert date}, (copy enclosed) because I do not believe I owe what you say I owe.

This is the first I've heard from you, or any other company on this matter therefore, in accordance with the Fair Debt Collection Practices Act, Section 809(b): Validating Debts:
(b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.
I respectfully request that you provide me with the following information:
(1) the amount of the debt;
(2) the name of the creditor to whom the debt is owed;
(3) Provide a verification or copy of any judgment (if applicable);
(4) Proof that you are licensed to collect debts in (insert name of your state)

Be advised that I am fully aware of my rights under the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. For instance, I know that:
- because I have disputed this debt in writing within 30 days of receipt of your dunning notice, you must obtain verification of the debt or a copy of the judgment against me and mail these items to me at your expense;
- you cannot add interest or fees except those allowed by the original contract or state law.
- you do not have to respond to this dispute but if you do, any attempt to collect this debt without validating it, violates the FDCPA.

Also be advised that I am keeping very accurate records of all correspondence from you and your company including recording all phone calls and I will not hesitate to report violations of the law to my State Attorney General, the Federal Trade Commission and the Better Business Bureau.

I have disputed this debt; therefore, until validated you know your information concerning this debt is inaccurate. Thus, if you have already reported this debt to any credit-reporting agency (CRA) or Credit Bureau (CB) then, you must immediately inform them of my dispute with this debt. Reporting information that you know to be inaccurate or failing to report information correctly violates the Fair Credit Reporting Act 1681s-2. Should you pursue a judgment without validating this debt, I will inform the judge and request the case be dismissed based on your failure to comply with the FDCPA.

Finally, if you do not own this debt, I demand that you immediately send a copy of this dispute letter to the original creditor so they are also aware of my dispute with this debt.

Signature here
Your Printed Name
Hope this helps.

[davephx]

I have sent similar letter when credit cards are turned over to collection some even suggest they provide the original signed credit app. Mine are not in judgement but I think the same applies.

In one case they ignored my letter and in a 2nd case they just sent a copy of the latest statement. You (and I ) need to find a real attorney to see if it helps us or not when they do not comply.

These type of letters are all over the Internet from those that want to sell books and seem to have the magic way to avoid collections. We have to spend money for legal fees to find out if it helps us or not vs just the recommendations in books and on the Internet for these type of letters.

[faith]

Packa,
You need to dispute this debt with the collection agency and the credit bureaus. If you do not respond they will think that you are acknowledging this debt. You need to ask them to give you a debt validation including the original copies of the contract. There's nothing wrong in disputing this debt, if you don't owe the debt, you have to dispute it. When I checked my credit report I found out that my lender still reported that I owed money for my 2nd mortgage. So I have filed a dispute letter with Equifax, Experian and TransUnion. I also wrote letter to the lenders and all responded and the report was changed to zero balance and paid in less than full balance.


You may also seek a legal advice with expertise in credit report, debt law or maybe bankruptcy and pay for 1 or 2 hours of their time to see what steps you need to take. But be careful in hiring one, check the State BAR of CA to see if the lawyer you find is license to practice law.

There are Attorneys in this forum, Fransen and Paul, maybe you should give them a call or email them to see what you need to do.

My thoughts and prayers are with you always.

God bless you and take care.

[faith]

P.S.
Make sure that it is certified mail or registered mail when you send your dispute letter and keep a copy for yourself.





God be with you always.

[pakca]

Hi Faith and Davephx,
Thank you for your letter. I just copy it and make changes and I will mail and fax it today.
It is not on my credit report when I checked last time. Also, I put freeze on it last month. fficeffice" />>>
in the letter, he wrote my last name as my first and last name is my first name as well. Should I say thing about this in respond letter?>>
Thanks again.>>

[pakca]

Hi Faith and Davephx,
Thank you for your letter. I just copy it and make changes and I will mail and fax it today.
It is not on my credit report when I checked last time. Also, I put freeze on it last month.
in the letter, he wrote my last name as my first and last name is my first name as well. Should I say thing about this in respond letter?
Thanks again.

[faith]

Originally Posted by pakca

Hi Faith and Davephx,
Thank you for your letter. I just copy it and make changes and I will mail and fax it today.
It is not on my credit report when I checked last time. Also, I put freeze on it last month.
in the letter, he wrote my last name as my first and last name is my first name as well. Should I say thing about this in respond letter?
Thanks again.

Pakca,
You just put your first and last name and tell them that they have the wrong person.

I thought of your case all night,. If the Collection Agency is writing you a debt about Ford Motors, you need to refresh your memory. Did you co sign for a friend, an ex girlfriend or ex boyfriend, a love one, co worker maybe. Did you give your ssn to someone or a co worker or roommate, or a coach, teacher, minister, churchmate, schoolmate got hold of your ssn and confidential information. Did you apply for a credit on line, check your checking accounts online or your credit online and forgot to sign off. Did you purchase an American car or a car made by Ford Motors. If your answer to any is NO, then someone stole your identity and you need to file a report with the authorities, dispute it with three credit bureaus and send letter to the collection agency denying this debt and ask for a debt validation.

You also need to get a copy of your credit report to these three credit bureaus, Transunion, Experian, and Equifax, dispute them and and put a freeze on it and fraud alert which is free for 90 days. You need to get it from these three credit bureuas because sometimes, companies report it only to one but not all, that's probably why it's not showing on your recent inquiry. Make sure you keep a copy for yourself of any correspondence you're going to send the collection agency and the credit bureaus and have it done via certified or registered mail. Put all the copies and the receipt of your certified or registered mail in a folder and title it dispute folder so it is all together in one folder and easy for access.

I want to tell you that I pray for you that God will expose whoever did this to you and give you favor from the collection agency and the three credit bureaus. Do't worry, God is on your side, if God be with you, who can be against you.

God bless you always.

[otisanddinga]

Hi Faith and fellow San Diegan,

I am trying to get some info on rental income from investment properties can be used as income for qualifying for a modification?

My Scenario we have 4 rentals all of which we put large downs. I have upgraded all units and have great steady tenants. All properties have declined. We just need a lower interest rate and are willing to keep properties despite being underwater as we are in for the long haul.

I am in real estate and ironically waiting for Wa Mu to answer my client offer to purchase a short sale, we have been waiting 3 months....


Thanks, Faith....

[faith]

Originally Posted by otisanddinga

Hi Faith and fellow San Diegan,

I am trying to get some info on rental income from investment properties can be used as income for qualifying for a modification?

My Scenario we have 4 rentals all of which we put large downs. I have upgraded all units and have great steady tenants. All properties have declined. We just need a lower interest rate and are willing to keep properties despite being underwater as we are in for the long haul.

I am in real estate and ironically waiting for Wa Mu to answer my client offer to purchase a short sale, we have been waiting 3 months....


Thanks, Faith....

Hello and welcome to this forum
Unfortunately there are guidelines to be approved for Loan Modification. The Government is not going to bail you out from your rental investments. Loan Modifications were designed for homeowners who live in their homes as their primary residence. If your house isn’t listed on your tax returns as your primary residence, then your chances of getting loan modification are slim.


Here are guidelines to know if you qualify for Loan Modification.

• You are experiencing a financial hardship not because the home is underwater.

If your income has decreased or your expenses have increased, you may qualify for a loan modification under the government’s Making Homes Affordable (MHA) plan.

• You are still earning or receiving income. Your lender requires that you document your household income before they will approve your Loan Modification.

• You have a Negatively Amortizing Pay Option Arm Loan

• Your total Mortgage Payment is greater than 31% of your Gross Income.

• You could afford a lower monthly mortgage payment.

• You have little or no equity remaining in your home.

• You owe less than $729,750.

• You need a Modification on your Primary Residence only so rental investments do not qualify.

The Five questions that determine your eligibility are:

• Is your home your Primary Residence?
• Is the amount you owe on your home is less than $729,750?
• Are you having financial hardship and difficulty paying your mortgage?
• Did you get your mortgage before January 1, 2009?
• Does your mortgage payment which includes Principal, Interest, Taxes and Insurance cost more than 31% of your gross income?

Here's the link for Short Sale outposts, please click it, there's a lot information there that can help you.
Short Sale Outpost - Loan Modification Forum - LoanSafe.org

Here's the executive contact for WAMU:

Rosie Alvarez
rosalva.alvarez@wamu.net
Executive Response Team
Customer Relations Manager
WaMu, now backed by the strength of JP Morgan Chase
(800) 225-5497 Opt. 1 Ext. 467
Fax (206) 965-3082

Chase Loss Mitigation
1-877-838-1882 ext. 52195

For help with your Chase,
Wamu or EMC loan,
call 866-550-5705


You need to keep calling the Negotiator, the Executive team of WAMU or Chase, be firm, persistence and patient. Moe told us this, a squeaky wheel gets the grease.


Hope this helps.

God bless and take care.

[faith]

Originally Posted by otisanddinga

Hi Faith and fellow San Diegan,

I am trying to get some info on rental income from investment properties can be used as income for qualifying for a modification?

My Scenario we have 4 rentals all of which we put large downs. I have upgraded all units and have great steady tenants. All properties have declined. We just need a lower interest rate and are willing to keep properties despite being underwater as we are in for the long haul.

I am in real estate and ironically waiting for Wa Mu to answer my client offer to purchase a short sale, we have been waiting 3 months....


Thanks, Faith....

Otissandiego,
Please click the link that Moe just put together for Chase and other lenders:
Chase - Email campaign for Monday, who's in?


This is new info and it will help you with WAMU now Chase.

[faith]

Pafca.
This is additional information for you to know.
Under the law,the Fair Debt Collection Practices Act. It protects consumers from overly aggressive debt collectors. The problem is, most people don't know it exists. Collection agencies are not allowed to threaten to sue or tell a third party such as a relative or friend about your debt, call excessively or use obscene or abusive language.
.
If you feel you're being harassed by a collection agency, be sure to document the call. Write down the date, the time and exactly what was said. Plus, you don't have to talk to them, just hang up the phone. You might need to hire a
credit report lawyer that concentrates in consumer rights litigation. Just wait and see what this collection agency's response. Hopefully the dispute and debt validation letter you've sent them will stop them.

Take care my friend, God be with you always.

[otisanddinga]

hi faith,

Thanks for the reply. We don't expect the govt to bail us out of our rental properties, however, I expect them to work with us in adjusting the interest rate due to an extreme economic hardship which is documented, terrible 'pick a pay" adjustable loans and fraud in loan docs (TILA, RESPA). We put large downs on all and have put extensive money into remodeling. They are a little underwater but I'm in it for the long haul and will fight to keep. I have heard of investment properties getting modified on this forum.

The short sale gives all the discounts to the NEW buyer and thus dramatically lowering the adjacent properties value. Why not give the present owner a shot at keeping the property???

Thanks again for your advise...

[jakelabry]

Originally Posted by otisanddinga

hi faith,

Thanks for the reply. We don't expect the govt to bail us out of our rental properties, however, I expect them to work with us in adjusting the interest rate due to an extreme economic hardship which is documented, terrible 'pick a pay" adjustable loans and fraud in loan docs (TILA, RESPA). We put large downs on all and have put extensive money into remodeling. They are a little underwater but I'm in it for the long haul and will fight to keep. I have heard of investment properties getting modified on this forum.

The short sale gives all the discounts to the NEW buyer and thus dramatically lowering the adjacent properties value. Why not give the present owner a shot at keeping the property???

Thanks again for your advise...

Sorry, but the gov't program is ONLY for primary residences and that's the way it should be. However, that doesn't mean you can't approach the lender for an in-house mod for your rental properties. For your original questions about rental income used to qualify for a loan mod - YES, you may use 75% of income from rental properties to qualify with the gov't program for a loan mod on your PRIMARY residence. Is this what you were asking?

[faith]

Originally Posted by otisanddinga

hi faith,

Originally Posted by otisanddinga

Thanks for the reply. We don't expect the govt to bail us out of our rental properties, however, I expect them to work with us in adjusting the interest rate due to an extreme economic hardship which is documented, terrible 'pick a pay" adjustable loans and fraud in loan docs (TILA, RESPA). We put large downs on all and have put extensive money into remodeling. They are a little underwater but I'm in it for the long haul and will fight to keep. I have heard of investment properties getting modified on this forum.

The short sale gives all the discounts to the NEW buyer and thus dramatically lowering the adjacent properties value. Why not give the present owner a shot at keeping the property???

Thanks again for your advise...

Good morning OtisSanDiego,
How are you? Did you sleep good last night? I was up all night I don't know why!I apologize if I came too strong in my previous posts.

I think you should try your best and ask your lender if they will approve you for loan modification. You are right, if you are willing to keep the house and just need a break from high payment and interest, instead of them short selling the house or foreclose it, heaven forbids, then why not ask the banks for loan modification instead.

You will need to contact your lender to make sure you have every loan modification form they require of you to complete.

The most commonly required loan modification forms are as follows:
1. Borrower Statement - is an information sheet that includes your name, address, ssn , and job history and dependent information.

2. Financial Statements - is where you show the lender your current financial situation, including an itemization of your income and expenses. It is important to indicate the reason your current mortgage payment is not affordable and how a new modified (lower) payment would be affordable for you now.

3. Hardship Letter - is where you will write a letter explaining in detail your situation. You must tell the lender why you are currently or soon will be suffering a financial hardship. (Job loss, death in the family etc.) This is your chance to explain specifically why your current mortgage terms are out of your reach and how changing the terms or lowering the payment will be within your new budget. Take your time, stay on topic, this is very important.

4. Cover Letter - is a submission cover letter which should state the new terms or payment amount that you are requesting. It's important to determine what you can afford ahead of time; this shows the lender that you are serious and have done your homework, adjusted your budget and will be able to meet the new payment.

5. Rental Schedule -is the form you will use to indicate your monthly cash flow and whatever equity is involved in the rental properties. Make sure to find out what your lender requires as far as loan modification forms. Each lender will have unique requirements.

The key to being approved for a loan modification is in filling out the forms! You must point out why you are or will be suffering a financial hardship. You really need to do your homework before giving your lender any financial information regarding your current situation; once you turn in your documents you cannot make any changes! This is very important! Take the time to prepare your budget and to be able to show what monthly payment and terms you can afford! You must be able to indicate that your budget will allow for this new modified payment as well as leaving you some disposable income left over.

The decision to approve or deny your loan modification request truly is based upon how thorough and prepared your application forms are. Talk to your lender, find out what loan modification form they require and then take the time to fill them out completely and accurately! This is too crucial and worth saving your home! you must do your research!

Take care and God be with you always!

[otisanddinga]

hi,

thank you both for your replies. I will start the process and keep you informed.

[otisanddinga]

I thought the making home affordable refinance program not the making home affordable modification program was for non owner occupied properties up to 1-4 units, under $729k,hardship. Is this still be implemented. It was on the original site.haven't heard much about it lately. Thx

[faith]

Originally Posted by otisanddinga

I thought the making home affordable refinance program not the making home affordable modification program was for non owner occupied properties up to 1-4 units, under $729k,hardship. Is this still be implemented. It was on the original site.haven't heard much about it lately. Thx

OtisSanDiego,
The link below may help you answer your questions:

For HARP - Home Affordable Refiannce Program

Making Home Affordable Plan Expected to Help 4-5 Million Homeowners Refinance | Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News

For HAMP Home Affordable Modification Program
https://www.hmpadmin.com/portal/programs/hamp.html

https://www.hmpadmin.com/portal/prog..._borrower.html

Thanks and God bless.

[davephx]

Originally Posted by otisanddinga

I thought the making home affordable refinance program not the making home affordable modification program was for non owner occupied properties up to 1-4 units, under $729k,hardship. Is this still be implemented. It was on the original site.haven't heard much about it lately. Thx

You can live in one unit of up to a four-plex and qualify. But you have to LIVE in one of the units.

Program says, "mortgage on 1-to-4-unit OWNER OCCUPIED property"