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blugu64 posted:Any reason to get a police report for identity theft? Might have been Wells Fargo, might have been someone else who opened up those accounts. It was probably WF but sure, go to identitytheft.gov and start the paperwork.
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Oct 4, 2016 19:11
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Were the accounts ever used? I doubt it, if you haven't noticed until now. I would just cancel and forget about it.
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Oct 4, 2016 19:14
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Solice Kirsk posted:And then he can use that $28 windfall to invest in vintage phone receivers! My SA reg costs project returns of 180%? I should share my investment strategy on personalfinance. Accounts are closed. No fees or any activity. Unless i start seeing class action commercials everywhere, i dont think i am going to put in any effort.
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Oct 4, 2016 20:35
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JohnGalt posted:My SA reg costs project returns of 180%? I should share my investment strategy on personalfinance. I would think that the blood's in the water at this point, especially given how egregious the wrongdoing is.
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Oct 4, 2016 20:50
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The question is whether Wells Fargo is properly tagging users who were defrauded. If one metric says 2 million and another says 4 million, they're going to use the lesser number and hope no one notices. That's why I was wondering if he discovered it on his own or if Wells Fargo contacted him. It sounds like they counted the checking account, but conveniently didn't notice two unused credit cards. So he's only one fraudulent account instead of 3.
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Oct 4, 2016 20:59
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Two million, four million, hey, what's the difference?
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Oct 4, 2016 21:16
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Krispy Kareem posted:The question is whether Wells Fargo is properly tagging users who were defrauded. If one metric says 2 million and another says 4 million, they're going to use the lesser number and hope no one notices. Yeah, i had to push to find out about the credit cards. Im betting that its not an aberration to have multiple fake accounts per person (also note that my oldest mortgage is less than 2 years old).
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Oct 5, 2016 02:30
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This makes me so mad, and I really, really want to cancel off all of our Wells Fargo products except that they hold my only two credit cards, which is going to sink my goddamn credit for age if I did that. They're already pretty young cards, given that I used to just cancel cards I had paid off and was scared of creating debt with. I wish there was some recourse. I've already moved most of our banking to the local credit union, but I would like to sever completely.
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Oct 5, 2016 15:49
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EAT FASTER!!!!!! posted:This makes me so mad, and I really, really want to cancel off all of our Wells Fargo products except that they hold my only two credit cards, which is going to sink my goddamn credit for age if I did that. They're already pretty young cards, given that I used to just cancel cards I had paid off and was scared of creating debt with. I wish there was some recourse. I've already moved most of our banking to the local credit union, but I would like to sever completely.
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Oct 5, 2016 15:51
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EAT FASTER!!!!!! posted:This makes me so mad, and I really, really want to cancel off all of our Wells Fargo products except that they hold my only two credit cards, which is going to sink my goddamn credit for age if I did that. They're already pretty young cards, given that I used to just cancel cards I had paid off and was scared of creating debt with. I wish there was some recourse. I've already moved most of our banking to the local credit union, but I would like to sever completely. gently caress em, get a Citi Doublecash card instead.
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Oct 5, 2016 16:08
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Bhodi posted:Are you planning on buying a house in the next few years? If not, your credit score for new versus old credit cards should not be as much of an issue as you seem to think it is. I'm planning on refinancing our mortgage versus buying a house in 4.5 years exactly. Will it impact me then?
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Oct 5, 2016 16:18
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EAT FASTER!!!!!! posted:I'm planning on refinancing our mortgage versus buying a house in 4.5 years exactly. Will it impact me then? No. Close your accounts that you aren't using. I posted something about this previously, but I closed my oldest account and still had a near 800 credit score when buying my house. Get your debts under control and pay your bills on time. That's by far the most important thing.
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Oct 5, 2016 16:42
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I agree, I closed my oldest cards because I wasn't happy with the service. It lowered by credit immediately, but only by a small margin and it rebounded quickly. If all the rest of your credit is in order, the age on your credit cards isn't going to sink you. Seeing as you actually have a mortgage, I would guess that keeping that in good standing would be a much bigger influence, for example.
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Oct 5, 2016 16:50
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The Wells Fargo cards will stay on your report for 10 years if closed. If your credit card score decreases, it will be a function of your utilization of available credit, not the account age directly (at lest until the cards fall off in ten years)
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Oct 5, 2016 17:50
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Fascinating, thanks for the insight guys.
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Oct 5, 2016 18:09
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EAT FASTER!!!!!! posted:This makes me so mad, and I really, really want to cancel off all of our Wells Fargo products except that they hold my only two credit cards, which is going to sink my goddamn credit for age if I did that. They're already pretty young cards, given that I used to just cancel cards I had paid off and was scared of creating debt with. I wish there was some recourse. I've already moved most of our banking to the local credit union, but I would like to sever completely. Closing an account doesn't make it not count for credit age, it remains on your credit score and still counts as an "oldest account" for credit age calculations. What it does do is cut your available credit, but that has no history so as long as you get more credit later (another CC from a less lovely company) your credit score will instantly bounce back. e: beaten, oh well
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Oct 5, 2016 18:17
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An account that was opened fraudulently has no business being on your credit report. Anyone affected by the Wells Fargo scams can write a letter to the major credit reporting agencies, explain the situation, and ask for those entries to be removed. This issue is well-publicized so that should help your case.
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Oct 5, 2016 18:56
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Personal BWM story: My hippie aunt just lost her battle with her insurance company to get them to reimburse her for her ~$900 a month naturopath payments and just paid a lawyer $200 dollars to talk to him about it. He said he'll do as much work as she wants and I'm pretty sure he knows that there is no case there, but just wants to bill her. My aunt is now hitting up people for lawyer fees and still going to the naturopath. She just spent about $450 on some kind of crystal geode that her naturopath doctor recommended to help reduce pain while she sleeps. Reddit BWM Stories: https://www.reddit.com/r/personalfinance/comments/560jla/crippling_student_debt_helpoptions/ "How can I service over $230k of debt on a 25k a year salary? A few notes: - My school no longer exists - We got scared and filed chapter 13 because someone said they might sue us for 10k. - Turns out we don't know what chapter 13 bankruptcy means. - We got a shady business loan from a friend and made it legal. We paid this loan back in cash and never kept any record of payments. We then pissed off the guy we borrowed money from and he went to court and said we never paid. - I decided this would be the best time to knock my wife up. - I consider myself a smart man. Thanks in advance" quote:Crippling Student Debt help/options? https://www.reddit.com/r/personalfinance/comments/55yw08/150k_in_student_loans_400k_mortgage_and_no/ "Hi, I have roughly $700,000 in interest-bearing debt. But if I only pay the minimums, I still have disposable income. That means I'm doing a good job, right? Also, whoops! I planned on my loans being forgiven in 10 years, but it turns out it's 25! Also, double whoops! As an American citizen I still have to pay taxes even if I'm not living in the U.S. this year? Also, triple whoops! I have to pay taxes on the amount of loans forgiven on IBR? Also, quadruple whoops! No money down on a condo means it's basically free, right? Since I'll be getting all my money back when I sell it instead of throwing it away on rent. No? Well, I'm going to assume my original beliefs that the loans will go away in 10 years and I don't have to pay taxes are correct. How do I save for retirement?" quote:$150k in student loans, €400k mortgage, and no retirement. Need a plan. (US/NL) Leon Trotsky 2012 fucked around with this message at 20:17 on Oct 5, 2016 |
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Oct 5, 2016 19:36
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I didnt even think about it, but I my second mortgage is much more recent and potentially after the two credit cards were opened. If i am being charged a higher interest rate because of this, they potentially are profiting of their own gently caress up. I might get $35 out of this.
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Oct 5, 2016 19:40
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Leon Trotsky 2012 posted:Reddit BWM Stories:
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Oct 5, 2016 20:13
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Eldred posted:Could you post the links for these? I wanna see them bicker in the comments about how it isn't really so bad, you guys. Edited them into the OP.
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Oct 5, 2016 20:16
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I always liked the term "naturopath" because it sounds like a chronic pain or disease caused by nature.
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Oct 5, 2016 20:16
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I just want to thank you guys trawling thru the depth of Reddit to find these gems. They just give me such a nice tingling sensation.
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Oct 5, 2016 20:22
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ate all the Oreos posted:I always liked the term "naturopath" because it sounds like a chronic pain or disease caused by nature. Naturalpathy.
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Oct 5, 2016 20:23
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JohnGalt posted:I didnt even think about it, but I my second mortgage is much more recent and potentially after the two credit cards were opened. If i am being charged a higher interest rate because of this, they potentially are profiting of their own gently caress up. On the other hand if they had a big credit limit they might have upped your available credit and saved you money!
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Oct 5, 2016 20:25
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Leon Trotsky 2012 posted:Edited them into the OP. Thanks, homie.
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Oct 5, 2016 20:30
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Eldred posted:Thanks, homie. No probs. I wish the OP was belligerent in the comments, but he seems just really really stupid and naively optimistic. His solution is just: "Well, I thought it was all free money that goes away in 10 years and everything would be fine. Also, I owe taxes in the US, but the IRS hasn't come after me yet, so it's probably fine. 25 years is a long time, lots of stuff can happen in between, it will all work out. I'll just start saving for retirement after the loans are done (when I'm in my mid 50's) and it won't be a big deal."
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Oct 5, 2016 20:40
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ate all the Oreos posted:Closing an account doesn't make it not count for credit age, it remains on your credit score and still counts as an "oldest account" for credit age calculations. What it does do is cut your available credit, but that has no history so as long as you get more credit later (another CC from a less lovely company) your credit score will instantly bounce back. This must only be the case for credit cards because when I paid off my student loans and the accounts were closed, my average account age was cut in half and it has had a minor effect on my score.
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Oct 6, 2016 00:31
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I will never understand why people with 100k+ in federal student loans are not working for the government. Assuming public service loan forgiveness doesn't go away (gently caress please no) that's a ten year income based repayment, which results in sweet sweet tax free forgiveness.
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Oct 6, 2016 11:31
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Hot Dog Day #91 posted:I will never understand why people with 100k+ in federal student loans are not working for the government. Assuming public service loan forgiveness doesn't go away (gently caress please no) that's a ten year income based repayment, which results in sweet sweet tax free forgiveness. Government jobs are even harder to get than private sector jobs, and they're constantly at the mercy of our slash happy Congress.
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Oct 6, 2016 12:24
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State, city, and County government qualifies, as do most non profit organizations.
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Oct 6, 2016 12:27
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In medicine at least, those jobs pay like rear end.
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Oct 6, 2016 18:55
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I wonder how the IRS will feel about him using his 401k after not paying his taxes.
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Oct 6, 2016 19:14
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Hot Dog Day #91 posted:I will never understand why people with 100k+ in federal student loans are not working for the government. Assuming public service loan forgiveness doesn't go away (gently caress please no) that's a ten year income based repayment, which results in sweet sweet tax free forgiveness. Yeah, the places it makes the most sense are the longest slogs through training (my wife had 6, I only had 4) and the difference ends up being you paying 4 or 6 years of payments on the 10 year payment plan (a sizeable number of high payments) then they forgive the rest. Pretty much the way to make it work is to stay poor for 8 years of training, make IBR payments the whole time and then take an academic job for two years while you get 80% of your loans forgiven. Money is bad in academic medicine, but if you're in a lucrative specialty it's not super bad.
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Oct 6, 2016 21:14
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EAT FASTER!!!!!! posted:Yeah, the places it makes the most sense are the longest slogs through training (my wife had 6, I only had 4) and the difference ends up being you paying 4 or 6 years of payments on the 10 year payment plan (a sizeable number of high payments) then they forgive the rest. Pretty much the way to make it work is to stay poor for 8 years of training, make IBR payments the whole time and then take an academic job for two years while you get 80% of your loans forgiven. It totally depends upon what you do, where you do it, and who you are, and the typical pay difference between academic medicine, health system employment, and private practice is one of several variables to keep in mind when looking for a job in medicine. Most people aren't money making robots and the accompanying differences in lifestyle and workplace setting have a lot of value as well. A lot of doctors are going to wipe out six figures or more in loans starting in 2017 and that's probably going to get PSLF changed in big ways.
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Oct 6, 2016 21:50
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BEHOLD: MY CAPE posted:It totally depends upon what you do, where you do it, and who you are, and the typical pay difference between academic medicine, health system employment, and private practice is one of several variables to keep in mind when looking for a job in medicine. Most people aren't money making robots and the accompanying differences in lifestyle and workplace setting have a lot of value as well. A lot of doctors are going to wipe out six figures or more in loans starting in 2017 and that's probably going to get PSLF changed in big ways. Hopefully not retroactively, as that specific "gently caress you" would be a bitter pill to taste.
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Oct 6, 2016 21:51
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EAT FASTER!!!!!! posted:Hopefully not retroactively, as that specific "gently caress you" would be a bitter pill to taste. The prevailing opinion is that it's part of the current master promissory note and can't be retroactively altered, only for new borrowers. Especially if major career decisions have been influenced you're right that would be a major gently caress you
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Oct 6, 2016 22:26
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BWM resulting in bitterness forever: started my government job in public service with 9 years and 11 months worth of payments left on my student loans.
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Oct 6, 2016 22:48
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My public government social work job is the best paying one in my field and qualified me for PSLF, but is also soul crushingly depressing and I may be a husk of a human 7 years from now.
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Oct 6, 2016 23:01
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Mocking Bird posted:My public government social work job is the best paying one in my field and qualified me for PSLF, but is also soul crushingly depressing and I may be a husk of a human 7 years from now. That sucks. I actually love mine, but it's working with a helicopter air ambulance unit, and about as far from a traditional government job as you can get. In fact, we are one of the only publicly owned units in the country. Plus, yay helicopters!
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Oct 6, 2016 23:25
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