Saturday September 06, 2008 - Wine Warehouse
Aging an Account - Unlike Wine it Only Gets Worse?
The term aging an an account can be understood by remembering this: Your credit history can be reported for seven (7) years from the first time you missed a payment and never got caught up. In a previous article, we touched on the term "initial delinquency". Both go hand in hand when we discuss the term "AGING AN ACCOUNT".
Remember, the Federal Law is emphatic. Someone can report a delinquent account for seven years from the intial delinquency. Many times, an original creditior will turn over or assign an account to a third party collection agency. Because the collection agency received the account much later then when it was first opened, they will very often report a new date of opening. In this manner, they think that they can report the information for seven years from the date of which the account was first placed for collection. This is very confusing for the average person and has caused many unsuspecting consumers to fail when qualifying for a mortgage.
It gets really confusing when the average consumer notices three or four different collection companies with different account numbers, different opening dates and no one reporting the intial delinquency date. Remember, the delinquency date of the original account. No one can change that date. Later on we'll discuss the "Statute of Limitations" and how it pertains to consumer debt.
Remember, when a creditor "charges off" an account he is merely writing it off for tax purposes. THIS DOES NOT MEAN YOU DO NOT OWE THE DEBT. You still owe on this bill. Keep that in mind. How often have we heard the statement "write it off for taxes"? What this means is that the IRS allows a company to recover a portion of bad debt by lowering the tax liability on corporate profit.
Occasionally, a credit report will show a charge off and still report the account as having a past due balance on the date the report was generated. This has been construed as "deceptive collection activity". The rationale from the debtor (you) is "how can I be past due on a charged off account"? Quite often, a violation of Section 623(a)(5) of FCRA occurs when the original creditor fails to report the intial date of delinquency.
Next article we'll discuss just how to negotiate debts.
Chuck Lunsford is the owner and developer of EasyFLoridaHomeLoans.com. He offers advice on how to get your credit in order and working for you. Visit his website and learn more about how to obtain bad credit loan mortgage |
Another short Wine Warehouse review
Aging an Account - Unlike Wine it Only Gets Worse?
The term aging an an account can be understood by remembering this: Your credit history can be reported for seven (7) years from the first time you mi...
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Wine Warehouse Items For Viewing
Riedel Vinum Champagne (Set of 2)
Riedel Vinum Wine Glasses make every drop of wine taste its best. Riedel revolutionized glassware by customizing the shape of wine glasses to a particular type of wine. Each wine glass is fine-tuned to direct the flow of the wine onto parts of the palate that will best express the flavors and aromas of a specific wine varietal. The fine crystal offers superb clarity so you can experience the wine's color and texture. Riedel Vinum offers a comprehensive selection of varietal-specific glassware that's affordable functional and dishwasher safe. Highlighting the full spectrum of aromas and flavors offered by fine Champagne and sparkling wine the Riedel Vinum Champagne glass also preserves their elegant effervescence. The fluted bowl provides ample breathing space which concentrates the yeasty bouquet and brings out the full range of aromas. The narrow rim directs the flow of liquid to areas of the palate that recognize the creamy texture. 8 5/8'H 8 1/8 oz.
Price: 64.95 USD
Wine Warehouse in the news
Château Giscours and Eugénie, the Last Empress of the French
Fri, 29 Aug 2008 03:24:00 PDT
Château Giscours can be dated to 1330 as a deed from that time refers to it with a fortified keep. Records of Château Giscours' vineyards go back to 1552 and Louis XIV was said to have enjoyed its wines. The Château is located in the commune of Labarde and is one of the largest Margaux properties. The Château that we see today was built by the Count de Pescatore, a great Parisian banker, in 1847 in order to receive the Empress Eugénie – the last Empress of the French and wife of Napoleon III.Eug
A to Z Wineworks Night & Day Oregon Red 2005
Fri, 29 Aug 2008 00:12:58 PDT
There is a Samuel Johnson quote on the back label that states, "The fact of twilight does not mean you cannot tell day from night." The choice of this obscure yet provocative and timely bite of wisdom from 300+ years ago would have to make you curious about what's in the bottle. It's a fair sight better than the reading on the back label of most bottles, or anything I could write. As they said in the 70's, "heavy, man". One would have to expect a deep wine experience to justify that line. You
kthread cooks: avocado salad
Thu, 28 Aug 2008 05:44:22 PDT
kthread cooks: avocado salad Were I to be scrupulously honest, I suppose I might admit this is less a salad and more a deconstructed guacamole. But as I’m not so inclined, this recipe is a light dressing, a sharp uppermost layer for soft, green flesh encrusted with red salt that sparkles like garnets on top of the fruit Jenne and I found at Bee Heaven Farm this weekend. Suitable for a quiet dinner for one in Paris, London, Miami: Recipe: Very thinly slice one medium-sized shallot ~1.5
Another Australia vs. America Cab Smackdown
Wed, 27 Aug 2008 19:33:08 PDT
My bro-in-law picked up a bottle of D'Arenberg's Galvo Garage, a wine I had been meaning to try for some time, so I decided a little blinded mano-a-mano with a Californian cab was in order (after all, he brought just one bottle...). I am a big fan of d'Arenberg's wines, so it was no surprise that the 2004 d'Arenberg "The Galvo Garage" (Cabernet/Merlot/Petit Verdot/Cab Franc from McLaren Vale) went over so well - bright cherry fruit, subtle floral and spicy notes on the nose, a velvety texture w
Six, yes SIX wines from Virginia - Episode #528
Wed, 27 Aug 2008 13:34:58 PDT
Gary Vaynerchuk tastes 6 Virginia wines along with a crowd at the Winery at La Grange in Haymarket, VA. Having trouble viewing this video? Try the Quicktime version. Comments on this episode(136) Leave a comment › “QOTD: I remember when I used to live in DC taking trains to Virginia a…” by J Crazy “QOTD: Driven through on the way to Florida. My favorite part was that…” by Matt W View all 136 › Wines tasted in this episode: 2007 La Grange Pinot Grigio 2007 Pearmund Viognier
Wine Selection
Dutty Wine
Wine Appraisal
Labels: Winery
