All Forum Posts by: Steven Miata

Kathy, as I mentioned, Chase reported to all 3 bureaus as Legally Paid in Full for less than full balance. Zero Balance. No Chargeoff. Never Late. Dispute resolved as per grantor.
This was, as you said, a WAMU takeover. Im even paying a note to the PMI company. Something stinks here. I sent Chase a qualified written request and should be hearing from them shortly because whenever I call, it goes over to recovery and they are the stupidist people Ive ever spoken with. they just refer me to the CA. First Oxford, sent them a DA letter, never responded and I guess they sent it back to Chase. Now PRS has it, my lawyer sent them a DV letter as well but he wants to go to court and it will cost me about $10,000. Has to be another way to find out who screwed up here and where my 1099C is?

Also, chase has not reported this short sale as a charge off to any of the 3 burueas. The loan shows closed with a zero balance.

So how do you use a credit report to fight a collection agency if this is the case?

Problem is that they never issued 1099C. The approval letter, although not specifically stating there was a deficiency, only stated that it "May" constitute a forgiveness of debt.

They reported to all 3 companies in the manner I stated earlier and when I questioned the verbiage, they also reported "dispute resolved by grantor".

This would mean to me that they reviewed the report of Legally Paid in full and stuck with it even at a later date.

Chase refuses to talk to me telling me that I must contact CA. Originally assigned to Oxford but seems they folded after 6 months and could not validate debt. I believe it was sent back to Chase and now with PRS.

The approval letter never mentioned word deficiency. Stated that "terms of this agreement may constitute a forgiveness of debt. Chase will report any forgiveness of debt in accordance with IRS requirements".

Also, all 3 bureaus have reports of Paid as agreed, pays as agreed or legall paid in full for less than full balance.

According to an attorney, he tells me that Legally paid in full means exactly that. That the creditor has accepted less to settle the account.

Also, I signed PMI note to get deal closed yet one year later, a PMI claim has not even been submitted. Seems like something is fishy here.

I pulled this statement off of this forum: "Also, a little known fact, is the lender could actually report to the credit bureau's as the loan being paid for less or settled for less. If a lender reports the loan on your credit bureau as settled or satisfied, they will have a hardtime going after you for the deficiency. It is always a good idea to pull your credit report a month or two after you close".

My lender reported short sale as " Legally paid in full for less than full balance". Zero Balance.

Now they seek deficiency through collection agency. First collection agency folded, sent it to another, now we are demanding they validate debt. I dont believe Chase has the original promissory note from WAMU to enforce the deficiency. I sent bank a QWR to explain their actions.

Any help or comment?...Thanks.