Home Loan Focus

Archive for January, 2009

After years of milking the Credit Card Bubble for all it was worth, American Express reported a 72% reduction in profits this quarter while simultaneously announcing 7,000 layoffs of its own employees.  That happened on a day some are calling Black Monday, when over 50,000 other layoffs were announced by other employers from Caterpillar, Sprint, Chrysler and more.

Now, the writing on the wall for credit card defaults has been glowing in neon for months now.  This was not something that American Express was surprised about.  We talked about American Express just last month when they offered up a change in their policy that might even allow them to take money out of an account holder’s bank savings or checking account without any notice or challenge.

Now the depression hasn’t yet set in because all credit cards have not yet been cancelled, but credit card companies that have merged to the point of over exposure might have to make that choice soon if they see repeated quarters of profit reductions or even losses.  So with that said, make sure you are protecting yourself and your credit because the ride has just begun.

Last month I purchased a new phone number from Skype.  Its an actual phone number, that brings calls directly to my Skype account (as opposed to just my user name). 

The number is recycled which is not that unusual in this age where everyone has a ridiculous number of phone numbers (home, office, mobile, Skype etc.)

Last week I started receiving automated collection calls from a company that has a notorious reputation for making debt calls on junk debt that is over 10 years old (see Google search).  One of the companies names and the one used on the automated call is JC Christensen & Associates, but these days they have a parent name on their website of Array Services Group.

They keep calling and leaving an automated phone message asking me to call them.  Now, this new phone number for Skype has not been given out to anyone and definitely not been used on credit related documents for myself or for my business.

I found one forum where a member was complaining about out dated collection calls for this company and even offered up a form to complete and send to them  to end the frivolous calls.

**MY NAME**
**MY ADDRESS**
J. C. Christensen and Associates
215 N Benton Dr
Sauk Rapids, MN, 56379-1530
10/13/06
To Whom It May Concern:
This letter is being sent to you in response to your recent phone calls to my home.
This is not a refusal to pay, but a notice that your claim is disputed.
Under the Fair Debt Collections Practices Act (FDCPA), I have the right to request validation of the debt you say I owe you. I am requesting proof that I am indeed the party you are asking to pay this debt, and there is some contractual obligation which is binding on me to pay this debt.
Your legal staff will agree that compliance with this request is required under the laws of the state of Virginia and Federal Statutes.
In addition to the questionnaire below, please attach copies of:
• Agreement with your client that grants you the authority to collect on this alleged debt, or proof of acquisition by purchase or assignment.
• Agreement that bears the signature of the alleged debtor wherein he or she agreed to pay the creditor.
Please also be advised that this letter is not only a formal dispute, but a request that you cease and desist any and all collection activities.
I require compliance with the terms and conditions of this letter within 30 days, or a complete withdrawal, in writing, of any claim.
In the event of noncompliance, I reserve the right to file charges and/or complaints with appropriate County, State & Federal authorities, the Better Business Bureau and State Bar associations for violations of the FDCPA, FCRA, and Federal and State statutes on fraudulent extortion.
I also hereby reserve my right to take private civil action against you to recover damages.
Sincerely,
**MY NAME**
Debt Validation Form
Questionnaire to be returned:
Account #: ____________________
Original Creditor’s Name: _________________________________
Name of Debtor: ______________________________________
Address of Debtor: ___________________________________
Balance of Account: __________________________________
Date you acquired this debt: _________________________
This Debt was: assigned ___purchased___
Please indicate any credit bureaus to which you have reported on this account:
Experian ______
Equifax ______
TransUnion _____

Techie Skype Wish list

My thing is that Skype is a VOIP service.  Its essentially an internet communication platform.  I can block spammers with spam tools in my email and even on my websites and blogs.  I should be able to block spammers with Skype by both IP or by calling phone number or user id.

Now this is a number coming from outside of Skype and there is no caller ID on it, but there still should be a way to trace it back to the source.  With that ability it should be able to block such a number or even dump them into an opt in request process whereby the caller has to prove that they are not an automated robot, state their business and why they should receive access to me, and then I should have the ability to let them through to call me, or later shut them off if they abuse the privilege.

I’ve been meaning to share a quick tip for people trying to sell their homes without a realtor.  Its simply this, a number of signs sold by various stores like Lowes and Home Depot have a little sticker on it that enables you to list your home for free online on their website.

DO THIS!

Every place you get your home listed (even if you list with a realtor) can only serve to help you.  We still have very high levels of homes on the market to be sold, and you need to insure that you are getting your message out in as many places as possible.  In this case, Owners.com provides a free listing on their site when you buy some signs.  Its a good deal and from an internet marketing perspective, it could be worth more than the sign itself!