3 Common Errors On Credit Reports That Consumers Often Miss

 Many people attempt to repair their credit by mainly disputing negative information on their credit reports with the credit reporting agencies. I believe everyone that is trying to repair their credit needs to dispute with the credit bureaus/credit reporting agencies (CRA's). I also believe that disputes need to be sent directly to the furnishers of that negative information, that would be the alleged creditors and 3rd party collection agencies.  

Now when disputing with the CRA's, I hear and read that a lot of you are disputing "no contract" or something similar to that.  That is an honest, true, and factual claim or reason for the dispute but if you keep disputing like that, you're going to end up getting the dreaded "frivolous" letter. CRA's can send you that and tell you that they are no longer going to entertain any challenge from you on that disputed item. I believe they can ignore your dispute for the following 6 months. That will delay your progress if you get yourself into that situation.

What you need to do is to pick apart the information that is furnished and find every error you can because that is what you use to dispute and that's how you keep from getting the "frivolous" letter. You can dispute that you have no contract with the company but when they respond that it is verified, you shouldn't dispute the same thing again immediately afterwards.  To continue the dispute and keep fighting, you have to bring up another error you found on your credit report. 

Here are some things that maybe you forget to dispute or maybe didn't even realize you could dispute:  

*    Is there a notation on your report that you have disputed that information? Well, how long has that been on your credit report? It should only be on your report for up to 30 days because the courts have determined that 30 days is a reasonable amount of time to "verify" the accuracy and get back to you. So, if it says consumer disputes and then it says "consumer disagrees", well then contact them and say, if you provide the proof that it's been verified, send me the documentation. If it's proven that they are reporting accurately, then I'll agree.  I haven't received proof of diddly squat yet. You can't just say consumer disagrees and leave the "disputed" notation on my credit report, and you claim its "resolved" without sending me the proof.  Either you prove it or remove it! They can't say it meets FCRA guidelines either. The FCRA says they have to have it accurate, complete and verifiable or else it has to be removed. If it meets the requirements in the FCRA, then they should have sent you the proof, or corrected it, or sent you the sworn verification. Remind them of the definition of "Verification" from Black's Law Dictionary including the accompanying case law.

*    Do you have a charge off that shows a balance and also shows a past due amount? I have no doubt that there are multiple errors on this furnished information but the thing that stands out quite a bit to me is that on a charge off, there is not a "Past Due" amount, It's been charged off. It's no longer late. They can claim there's a balance but believe me, that is another error that they need to prove in order to force you to pay them. That's a topic for another time but for this post, don't forget to dispute this with the CRA's. This furnisher is claiming there is a past due amount on this alleged account but the law states that a charge off cannot have a past due amount. Correct or delete this immediately pursuant to the requirements in the FCRA.

*    This last one is a whammy that they all violate probably 95% or more of the time. The FCRA Requires that every alleged account that if furnished to a credit report also includes the DFD, or you can say the DLA. What do those acronyms stand for? Date of First Delinquency and Date of Last Activity. So, the DLA is the date you last made a payment on that account. The DFD is the first month that you missed a payment on the account prior to the account being charged off,  Why are these dates important? Because they are the key to knowing when the Statute of Limitations runs out for collecting and for reporting it on your credit reports. It should be no problem for an alleged original creditor to furnish accurate dates on your credit reports. You can look at your credit reports, all 3 bureaus side by side and you will see that each CRA report usually differs on each one.  I don't know that I've ever seen an accurate DLA or DFD on an alleged account furnished by a 3rd party collector. I will reiterate that this is a very important requirement stated right in the FCRA and also, there are FTC Staff opinion letters written about this common error and requirement.

Please take this information and apply it to your CRA disputes to hopefully start seeing some better results. It will protect you from getting slapped with a "Frivolous" violation and suspension of your ability to dispute, It will also help you find multiple errors to dispute and use against the furnishers and CRA's to make your credit reports pretty again,

If you've found this information useful, please consider donating through the "DONATE" button on the right hand side of this page. Also, please see the post I'm placing right below here. It has a link to GiveSendGo which is similar to GoFundMe but they don't steal people's money.  My family is going through a very rough time right now and we need all the help we can get. I really appreciate any help you can give whether it be financial, or sharing the link on your social media or your prayers. All of it is appreciated,

One more thing. I have been very busy the last couple of years, Busy with credit repair, busy with assisting clients with lawsuits, and health problems that landed me in the hospital for quite a while. After that, I decided that I would be scaling back my credit repair services and concentrate much more on teaching others how to fix their own credit and also training credit repair companies how to have more successes for their clients.

I have been working hard on this training and will be posting some more information about it soon. I'm almost ready to launch it so if you're interested in learning even more that what you can find here on my blog, come back often and when I announce it, you can sign up at that time. Thank you and best wishes on your credit repair success,

Here is the link to the information about my family's situation right now. 

https://givesendgo.com/lopezfamilyfunerals

Please help by donating and/or sharing. We have 4 funerals that we need to pay for before we can hold the services. Thank you so much for helping us. Here is the link to donate. https://givesendgo.com/lopezfamilyfunerals

Shannon Lopez

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As some of you may know, we recently lost 4 of my husband's family members. We are comforted knowing that they loved our Lord Jesus Christ and are no longer suffering with pain or struggling to breathe. They are in Heaven worshiping and praising God now.

However, now we need some assistance covering the costs of burying our loved ones. I am asking for help both financially and/or by sharing the link to GiveSendGo as we cannot hold our funeral and burial services for them without everything being fully paid.

I'm including the link below and really appreciate any help you can give. Thank you for your prayers and support.

https://givesendgo.com/lopezfamilyfunerals

How To Make Original Creditors Validate An Alleged Debt

Anyone who has studied the art of credit repair for any length of time knows that when you get attacked by a collection company, you fight back by hitting them with a demand for validation.  But that's for 3rd party collectors, not original creditors. In fact, if you send a letter to an original creditor demanding validation, sometimes you'll get a response from them proclaiming they don't have to validate but as a courtesy, they investigated and they are accurately furnishing information.  They do this to make you give up and go away.

However, there is a way to get them to "validate" without calling it validation and they are required to produce it for you.  Remember a while back, for those of you who have read through my blog posts at least a bit, I explained and defined validation and verification. Validation is the PROOF, the documentation that goes hand in hand with verification.  

So, to be able to have the right to demand the proof that they are accurately reporting, first you must dispute the alleged debt or the account with the credit reporting agencies (CRA's).  This is also compliant with FCRA section 623.  Once you have disputed with the CRA's, they have 30 days to investigate and send you the results of their investigation.  They will send you the results of their investigation and usually at least a partially updated credit report showing that the items disputed have been updated, remains, deleted or verified.

If the results are anything other than deleted, (including "updated" but the problem is still there) this is your open door to make them validate the alleged debt.  Now you can write a letter directly to the creditor saying something similar to the following:

Dear whoever,

I have some concerns about this account and the way you are furnishing the information to the credit bureaus. I don't think the information is accurate. (I'm going to give several different things here that might be an issue you'd bring up).  You say this is charged off but then you claim a balance is still owed to you when we both know that charging off an account puts a $0 balance in your books. The lates you are reporting are not correct.  The history you are reporting is so wack there's no way that it is accurate.  There are all sorts of blank fields on my credit report where you should have reported information. That means the information you have furnished is inaccurate and incomplete and the FCRA says you are required to correct the information or delete it.

When I saw how you were reporting information to the credit bureaus I disputed the accuracy.  Now I have the results of their investigation and it shows that you claim to have verified this account. Since you claim to have verified this account (or updated it for the mere act of putting an "in dispute" comment), I now have the right to have you prove you are furnishing accurate information to my credit reports.

Here is what I am now demanding from you:

Please provide copies of the actual documentation you used to "verify" this account with the credit bureaus.  Here is a list of items I need from you.

Then you start listing items like you would with validation demands from collectors except you don't need proof of assignment or bill of sale from the collection agency. Demand the usual stuff like a certified copy of the original contract, full accounting from origination to present, copies of cancelled checks proving late dates, etc.  Here's some fun stuff to ask them to send you: proof they lent you actual money and where did they get that money from since its against the law to lend money from their assets or their depositors' assets, and its definitely against the law to lend credit. 

Oh, oh, how about insurance?  Now you all know that investors always insure against loss of their assets. Creditors are really just investors.  They are allowed to file a claim against asset loss at 90 days of the customer defaulting on their alleged debt. Yes, that insurance claim results in them receiving a check to cover the balance of the alleged debt they claim is owed. That means that the debt has been paid in full. Let's not forget about tax credits, Oh yes, they file a "profit and loss" claim with the IRS because supposedly they lost money when you defaulted.

How convenient of them to quickly forget that they got paid by insurance on that alleged debt which they never really lent any money or credit for. You funded your own line of credit. I know its hard for a lot of people to comprehend AND accept this because its just not something that they ever teach you. Its something that they don't want you to know.  They don't want you to realize that they are the fraudsters that never lend anything, are never really creditors but merely servicers, insurance fraudsters, tax fraudsters, and lying thieves.

Enough of my ramblings about the enemy. The point is that you can demand that they prove you owe that charged off amount. You can demand that they are accurately reporting late payments and that the history showing on your credit reports is correct. You can demand that they delete the information from the credit reports should they not be able to send you the documentation.  If they don't, well they are violating the FCRA.

I wish I could tell you that you can enforce their compliance, but then I'd be a liar. You can try to enforce it, and you can rat them out to the CFPB and the FTC, and the BBB and your Attorney General, and even sue them. But it all comes down to whether they back down and obey the law or just continue being stubborn, arrogant, and outside of the law. I suggest never giving up. Keep going at them, wear them down, keep calling them out, and yes report them to all of the above agencies.  The squeaky wheel does get the grease and whoever gives up first, loses.  Don't give up! Hang in there and win! 

If you are tired and feeling like giving up or you have collections and charge offs on your credit report and would rather have some help instead of doing it yourself, I understand and would love to help you. Feel free to contact me at the email address listed above, just a little below my picture.

If you have found this blog helpful to you, please consider donating as a sign of your appreciation for information I have freely given to you.  The "Donate" button is on the right side bar.  Thank you for your generosity.

Debt Collectors ALWAYS Commit Fraud!

I constantly proclaim that you should never, ever pay a 3rd party debt collector.  I sure hope many of you listen to me.  It doesn't mean that they will just go away. Sometimes, yes they will.  But there are times when you will have to fight.  If you don't fight, if you don't demand validation, you are not going to win.  We need to stop being afraid of these thieves and fraudsters.  Demand they provide the proof that they have the right to collect. Demand that they prove you owe any money. Demand that they prove they have a valid contract with you.  THEY DON'T!! 

I don't go into extremes on this blog about my opinions on original creditors because plenty of people would think I'm nuts or have gone off the deep end.  Well, here's the the facts for me.  You don't help people with their credit repair and help improve their credit reports for over 2 decades and become extremely successful without researching and studying and digging into areas that the financial industry would rather you not find out about, without turning up proof after proof after proof that validates the facts of their outrageous, criminal behavior.  

I have done the research.  I still do the research. I love researching, and I apply what I learn. Guess what?  When I apply it to validation and dispute letters, when I apply it to my clients' case defenses when they get sued, these lying, thieving, law violating, tax cheating, insurance law breakers and fraudsters hit the road! They have to.  They don't want to be exposed for the thugs that they are. They are in violation of many federal laws. Harassment, extortion, RICO Act, mail fraud, bank fraud, FTC violations, FDCPA violations, FCRA violations...the list goes on and on.

I don't usually post videos, because I like to write and share information from my heart and soul with you.  I do have a passion for this.  But, today, this video falls right in line with my passion for justice, truth, and consumer advocacy.  I'm not a loon, and the gentleman on the video is not a loon.  This video shows how original creditors sell your alleged "debt" and how they and the 3rd parties make money whether or not you "pay off" the alleged debt.  You will hear from an actual bank employee who is in charge of selling these "bonds" (yes, they illegally convert to securities which create the "bonds"), and he admits, flat out acknowledges the fraud, without calling it fraud, of course! If you have about 20 minutes to visit here, please relax and watch the video.  It will be an eye opener for many of you.  

Please Enjoy!