19 March 2009
After being out to sea on a ship for 3 round trips to China I am on vacation for 35 days and this is the most important post to my blog that I could ever make considering our economical, times. Where do I begin?
Let's start with the Headlines in USA Today dated; Fri/Sat/Sun, March 6-8, 2009 . What caught my eye on the front page was this report {Consumers hit by sliding credit scores). This article basically says that nationwide people are losing their hard earned credit as banks and other financial institutions' are looking at our credit lines and in the case of one woman who at the age of 61 had a credit line of $47,000.oo closed by account inactivity meaning that as she was not using the cards. Perhaps saving then for a rainy day as we all should; not using them to purchase a candy bar just to keep the cards active say twice a year. It is advised that we do so same thing happened to a friend of mine when we were talking about what is happening to us the citizen's and residents of our country The United States of America. As a result of the financial institutions closing these 2 credit cards her credit score dropped according to the article from 757 to 726 the credit reporting companies claim that score of 740+ is EXCELLENT! Now what is her credit score726, now only good to above average? Did she do anything wrong? No not at all. She worked hard to get a line of credit that high and if we follow the guide lines established over the last 20 years by making our credit card payments; the banks will either automatically give us an increase averaging $500.oo every 6 months! IF not we can contact them and ask for an increase. Not anymore; the times are a changing for the worst. Making it that much harder to maintain our credit ratings, ( It is only when we speak out in a common voice that the financial institutions will hear us and I speak not only for myself but for all the people of the world. For what effects those of us in America it effects the credit of both people and business in every country of the world. Why did the Central Bank of Iceland Fail? We need to stand up and be counted not lie down in the dirt to be kicked like a mongrel dog.)
This is as I understand things is the primary means in which we are able to increase our credit score. In truth after separating from one job and starting a new career with maxed out credit line of $40,000.oo between 5 credit cards and 3 personal loans. When I first started shipping 10 years ago my wife decide to become confused and not pay any of the credit cards; except the one that she also uses even today. Not having an income; I had when I received the cards, I was unable to make payments on them and 2 banks wrote off a total of $12,000.oo as noncollectable. Today these charge offs do not appear on my credit reports as I just checked this week using my free Government Credit Report. (Does not show the FICO Score only positive and negative events in your credit history going back many years in the case of the good and only 7 years for the negative reports). My FICO score (which by the way; is the only one we are interested in, not the other ones that the Credit Reporting Companies have created to elude us that they are better, to charge us more money) Had increased from a high 500 to just under 740; Eight years later by maintaining a single card that has a limit of $3,500.oo, when I bought my house: Proof that the system works. A good credit score and a good income; through my Union as a United States Merchant Sailor I have an average monthly income of $5,500.oo providing I work all available overtime. My home is financed by a sole subsidiary of a subsidiary of GMAC; a division of THE GENERAL MOTORS CORPORATION which we the people of the UNITED STATES just bailed out with BILLION'S of DOLLARS the same with GMAC and all subsidiary's of said corporation Our Federal Government allowed GMAC to become a Investment Bank as part of the Bail out.
Here is where I and the rest of us who have our homes ; our Casa's This GMAC subsidiary HomecomingsFinancial posted my first mortgage payment to my second mortgage and made the smaller second mortgage payment as a partial payment of my first mortgage. Via their automated (untouched by human hands system that has this strange ability to take your coupons / checks and somehow convert your check to a electronically cashed check and then somehow destroys this legal document so they have no record as to what they did with your payment) in Phoenix Arizona, where you mail checks to a United States Post Office Box of course Homecomings Financial is a Post Office Box in Indiana or is it a Post Office in Dallas Texas. But their Customer Lack of Care is in Iowa or should I say the Philippines; the girls in the call center are all Filipina; I have only spoken to one person who was not and that was the then actual for real Customer Service Manager and she actually got things corrected when I had my first problem with them, (If you are still with GMAC/ Homecoming Financial ,I thank you again) According to persons in Customer Lack of Care and in the Collections Department, these people have only first names and none of the people in the Collections Department know who is Ruth is who is the Loan Councilor that called me on my cell phone to tell me that they did not receive the payment that their automated system receive and cashed electronically according to my bank statement, showed timely cashing of the checks before the past due date for the most part. After 45 minutes on the cell phone Ruth; no last name says that she will make notes on the computer and that everything would be corrected. Nor do the people in the Collections Department give a damn that you spoke to Ruth the loan councilor or to Jane in Iowa Philippines, Customer Services. Who also said that everything would be taken care of and nearly 2 years later in spite of my letters (copies included in this report and letters from them admitting their error) and 40-60 hours on the cell phone.
[10 hours of which took place while I am on a ship Propositioned at anchor off the Island of Saipan for nearly 2 months during which Sprint charge me $1,900.oo + largely for international roaming within the North American Calling Plan when I arrived on Saipan I called their customer care number that was given to me via tex message when I turned the phone on and was assured that there would be no roaming charges as Saipan part of the Northern Marianas Islands has a Country code of 1(United states) area code 670 a United States Area Code With a Zip Code of 96950 US Postal Service . Insult to injury yes?
With me saying yes you did receive the payment for this month my Bank statement proves it go find out what you did with my Money after you cashed the check electronically. Finally I said, sue me take me to court, I will answered to a judge. But not to Homecomings Financial!
In my last few letter to Homecomings Financial GMAC; I asked why if they had found the problem and corrected it then why is it that I was still getting the nasty letters (copies included) from collections and why were they still disrupting my credit rating as they were instructed by myself to instruct the Credit Reporting Companies to make reversals of the negative reporting of credit. This has never been done!!!
I even wrote the big three Credit Companies provided a copy of the first letter I wrote in November 2008 to Homecomings Financial/GMAC and said that they were to stop reporting the false information on my credit (copy of TransUnion report showing continued reporting of missed payment for 18 months from Homecomings financial) . I said that I would sue them and Homecomings Financial GMAC, If the error was not corrected. I asked in my last letters to Homecomings Financial if they could afford a Class Action Suit in Federal Court as I am sure that there are a large number of people out in the world who can document being treated unfairly by GMAC, and Subsidiaries . That I would be very happy to post this letter to my website in search of them that all that they have been doing is providing me with more evidence against them. Throughout all, my checks have been for a larger amount than the minimum for 2 years, and Homecomings Financial has breached their contract with me.
Thus this publishing on my blog is an open letter of appeal to anyone who feel that they have a documented claim against Homecomings Financial GMAC and can document their claim in written form as in the example that I have provide in the below attachments, Please email me at my new email address that I set up just today for the purpose of gather people together to file a Class Action Suit Against GMAC /Homecomings.
email address: kermitgmachomecome@gmail.com, subject: Class Action Suit.
We need to work together to prevent this kind of thing from happening to you, your brother even our family in other parts of the world. Our credit is the most important thing we have other than our lives; our love ones. For those who have lost their jobs our credit; is being check by potential employers, land lords, government agencies; that provide assistance in some states. We need knowledge; to combat debt collectors; most persons who fall behind, don't know their rights under federal and state laws protecting us, from being harassed by debt collectors. The damage to our credit ratings, my education in this matter has been fairly complete. Without the knowledge that I gained from an eBook on credit, that I read, I would not have had the power to stand up to a major corporation that controls the roof over my head. The most well written eBook that I have read on the subject of establishing and maintaining credit.You will learn,that there maybe a statute of limitations in your state in which you live in that debt collectors can take you to court! Yes most states have laws to this effect. Please if you will go to this web site and get your copy; the information is valid even in these changing times. When our credit lines are being cut by banks, as I indicated in the opening paragraphs of this blog,we need to protect ourselves. Get your copy of Credit Secrets Reveled by right clicking on the title and open in a new window. (Haven't figured out how to make these links things work yet.)
This has happened to me and I know that GMAC/Home comings Financial all subsidiaries' has done the same to others.
Again JOIN me if you can document that they have done you wrong; send me that email and don't let them try to roll over on you! File a complaint with the Federal Trade Commission.
Currently there are one maybe two separate Class action Suits pending against Homecomings Financial and if you do a search of homecomingsfinancial.com there several pages of information that is well worth reading. Stand up for yourselves and be counted.
Thank you.
Kermit Q. Bengtson
Email: kermitgmachomecome@gmail.com
my blogs web address http://orangepickelsonlinemony.blogspot.com
____________________________________________________________________________________________________________________________________
Please view these attachments;
18 March 2009
To: Manager
Customer Lack of Care
Homecomings Financial
P.O.Box 205 Waterloo, Ia. 50704-0205
From Kermit Quentin Bengtson
El Paso, Texas 79924
Reference Accounts: 747227xxxxxx 747230xxxxx
sir:
I am at my house after a 4 month absence; reviewing all my mail. I have received a letter ( copy enclosed UNSIGNED) from your office. Your reply is totality unacceptable I made proper payments to your company and your company is going to give me full credit for both accounts. The excuse that your company cannot reverse the payments and that am going to have to kiss your corporate butts and pay additional late fees is the stupidest thing I have ever heard. Remember that you tied up 40 plus hours of my time and cost me nearly $2,000.oo in intentional roaming charges on my cell phone trying to correct this error on your part. Hours of irritation and still doing so.
Your corporation is going to make good on applying all payments received to each of the proper accounts per my earlier written instructions( copy enclose) and your collections department is going to stop sending me letters like the ones that are also enclosed and correct my credit report ( copies of several reports to credit companies that I am still late in my payments. Yes I can prove everything I am saying, copies enclosed.)
The property has been homesteaded as of yesterday by fax with copy mailed to the Tax Accesses Office for El Paso County.
Your Corporation has had sense August of 2007 to correct this matter and you failed to do so; I have no more patience with Homecomings Financial; GMAC. I just got off the phone with Maya employee number 8978970 who said that you are just now preparing the work order on these accounts. This is something that I was given verbal assurances in August of 2007 that would be corrected by your Customer lack of Care.
In my last 2 letters I asked if Home coming Financial could afford a Class Action Law suite; no reply
from your Corporation. So I am serving you notice that as of today I am posting all correspondence to and from Homecomings Financial to my web site and it will go out to over 100,000 electronic news agencies and I will find I am sure the 7 people that I need to start that Law Suite. Copy of that posting is also include with this letter.
Kermit Quentin Bengtson
_____________________________________________________________________________________________________________________________________
7 November 2008
This is an open letter to the following credit reporting companies:
Equifax Information SVC Center
P.O. Box 740123
Atlanta,Georga 30374-0123
Experian Target Marketing
P.O. Box 919
Allen, Texas 75013
Trans Union Name Removal
P.O.Box 505
Woodlyn, PA 19094
Sense August of 2007 Homecomings Financial has been reporting to your respective credit rating firms that I missed a payment the truth is I did not miss my August 2007 payment and that they cashed the check electronically
on the 6th day of August 2007 using their electronic check cashing automated unhanded by human hands system.
(Their words not mine according to Joey employee # 83108 who is a supervisor at their customer service call center that is in Iowa.)Their automated system shreds all checks and the coupons that are sent in with the checks after electronically cashing them again according to this Joey (no last name) at the end of a telephone line. Of course these are legal documents and are
not to be destroyed until verification has been completed.
You know that under Federal Law (a very old one) if we write Payment in Full No Other Money Due on a check and the party to who the check is written to cashes the check regardless of their believing that there is additional money due. That by doing so they have entered into agreement stating that they have agreed. The cashed check becomes a binding contract.....One does not need to be an Barrister to know that, as in my high school years it was taught in Basic Accounting 101..Bank Statements are also court accepted documents and I have enclosed with this letter to each of you credit reporting firms copy of the August 2007 statement that Homecoming Financial DID indeed cash my Check 1016 for $1,150.00 on August 6, 2007.
This will stand up in any court in the land as proof of payment and if the three credit firms keep reporting that I am late in, my payment as I have provided Homecomings Financial a copy of this same Bank Statement. Your firms will find your corporate butts in a civil court defending your actions.
This reporting is in error and I will not stand for the disruption of my credit rating due to it. Is that clear? You now have a copy of the letter that I have written to Homecoming Financial concerning this matter. Thank you.
Kermit Quentin Bengtson
Drive El Paso, Texas
___________________________________________________________________________________________________________________________________________________________
Homecomings Financial
AGMACCompany PO Box 205
Waterloo, IA 50704-0205
____ . RE.:~. _A~CQ1Jnt NUJllber__ __747227~ . '-_._~.--" -
Property Address .,j1 •. iIii"._J lIfI~.
EL PASO TX 79924
In response to your inquiry, this letter will confirm we have made corrections to the following credit repositories for September 2007 through October 2008, to show paid on time.
You may use this letter for verification, should you need to provide a potential credit grantor with proof that this correction is in process. Please allow 45 days for the corrections to appear on your fIle. If corrections still have not been made, you will need to file a dispute with the bureaus. After that time, you may wish to confirm the corrections have been made by directly contacting the bureaus as follows:Equifax 1-800-685-1111 PO Box 105873Atlanta GA 30348
Experian (TRW) 1-888-397-3742 PO Box 2002Allen TX 75013
Trans Union 1-800-916-8800 PO Box 2000 ··----~--CIieSfer PA190n----- - .--.
Innovis 1-800-540-2505 POBox 1534 -C-olfuiibusUR 43215':'1534---
We apologize for any inconvenience this may have caused you. If you have any questions, please contact Customer Care at 800-206-2901.
WAS NOT ABLE TO PUT ALL INFORMATION IN POST BUT THEY STILL HAVE NOT CORRECTED THE ERRORS CLAIMING THAT THEY COULD ONLY GO BACK 1 YEAR TO MAKE ADJUSTMENTS AND THEY WANT ME TO MAKE UP THE DIFFERENCE.
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