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2008 - Wine Types

Another Great Wine Types Article

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 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 Types 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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Featured Wine Types Items

The FTD Bleeding Heart Spray - Standard

This heart shaped arrangement expresses their grief over a loss. Red roses and white carnations are arranged and placed on an easel for display in a funeral home or service. S9-3580S

Price: 179.99 USD

Current Wine Types News

Rosemount City Council Encourages ID Theft

Tue, 25 Nov 2008 17:02:55 -0800
According to this article over at Thisweek, Rosemount Liquor and Wine Cellar has been handed a six day suspension of its liquor license for its third underage sale in the last three years. Even though the lawyer for the corporation that owns the business complains that the license suspension duration is too harsh, he’s complaining about the wrong issue entirely. First off, the liquor license suspension, for six days, is a slap on the wrist. I just can’t understand the problem the business is h

Working on a Sunday sucks

Tue, 25 Nov 2008 16:38:54 -0800
Due to Kentucky state law, we can't open the liquor store until 1pm on Sunday afternoon. This displeases the hopeless alcoholics and serial shoppers. They WAIT OUTSIDE THE DOOR until we open. God, I hate the people who get out of their cars and stand in front of the door. They're never cool people, ever. Decent people are at home nursing hangovers or at bars watching football. Only assholes stand in line to be the first wave in to shuffle aimlessly through the aisles of a liquor store. And sinc

Five charged in Greenburgh booze sting (The Journal News)

Tue, 25 Nov 2008 16:12:07 -0800
GREENBURGH - Workers at four convenience stores and a wine shop were arrested after selling alcohol to a 19-year-old woman during an undercover sting, police said.

The Black Friday Survival Guide, Phase II: Preparing for Black Friday

Tue, 25 Nov 2008 15:14:23 -0800
Congratulations soldier, you’ve got your Plan from Phase I and now you’re ready to enter Phase II - Preparation. Unlike Phase I, which consisted mainly of strategy, Phase II is more concerned with your figuring out your tactics on the ground. With the proper preparation, your survival is almost guaranteed. Phase II - Preparation Learn how to prepare after the jump. A. Nutrition The most difficult part about Black Friday is that it’s mere hours after the most scrumptious, lavish, and fat

Beer and wine labels should carry 'calorie content' warning to deter binge drinkers, say experts (Daily Mail)

Tue, 25 Nov 2008 13:57:06 -0800
Bottles of wine and beer could be forced to carry labels warning of their calorie content. Experts believe it could have a huge impact on binge drinkers who are not deterred by current warnings.

10 Essentials for Thanksgiving (San Francisco Chronicle)

Tue, 25 Nov 2008 13:09:20 -0800
Every year in the months leading up to Thanksgiving, the Food and Wine staff brainstorms new ways to cover the holiday. In the past, we've explored Asian-style banquets, turkey dinners for novices, a competition between expert reader-cooks and, just last...

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