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

ttiFebr4uary S24 una1oi2ti 211a:53 frelPMd  · 

Shared with Public

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

Raise It or You Waive It

Whether you are disputing information regarding a derogatory account from a creditor or an alleged account with a 3rd party collector, you need to be specific about what is wrong with how they are reporting that item on your credit report.  You need to raise the issues in your dispute letters and hold them accountable to prove it.

With an original creditor, you will most likely be disputing the amount of the balance they claim is owed after they charge it off.  Here are some thing you should be disputing:

• There is no balance because they claim to have charged off the account and it is a FACT that there is insurance on each account to protect the creditor  against asset loss.  Did they receive monies from an insurance claim that paid off the alleged account balance?
• Did they even fund the account or did you?  
• Did they take tax credits?
• Are they the creditor or really just the servicer?
• Did they disclose that they were charging you for the insurance premium to protect against asset loss?
• Did they get your approval in writing agreeing to the amount of the premium as require by law?
• Did they get the insurance payoff prior to charging off the account?
• Is the contract creating the account even valid since they lacked full disclosure and equal risk?
• Do they even have a certified copy of the original contract bearing both your signature and their authorized representative's signature?
• Can they provide a full accounting showing every charge, every payment, every fee, every interest charge, every credit -including the insurance claim monies received, and any other amount along with the date each event occurred? *This does not mean they get to send you monthly billing statements. They need a full history document).

All of these questions are threatening to an "original creditor" because if they are truthful, they will have to admit that the contract was not valid, they lent you nothing, you covered the premium for the insurance for their benefit, the insurance paid off the account prior to charging off the account, and YOU funded the account, not them.  They need to respond point by point on each issue raised and provide documentation for everything they claim. Plus, verification requires a sworn affidavit, so that's how you need to tell them to respond.

With a 3rd party collector you should be raising some of these issues if not all of them:

• Were you named on the original contract with the original creditor?
• If not, do you have a contract between your company and me, signed by both parties?
• If not, produce the document authorizing the release of my information from the original creditor to you (Power of Attorney), signed by me. It is against the law for a creditor to share your information to any party other than the account holder without their authorization. Giving your information to a 3rd party without your knowledge or consent is perpetrating identity theft,
• Do you have first hand knowledge about everything that has transpired with the alleged account, including when the account allegedly belonged to the original creditor and any other parties prior to your acquisition?
• Do you have written consent to collect information about me and to share information about me with the credit reporting agencies - in writing, signed by me? 

When you receive a response back and it doesn't respond to each issue raised and doesn't include certified documentation backing up each response, you must call them out on their failure to validate.  Again, verification is the sworn testimony so they also should be responding to you in that format. Validation is the documentation backing up their testimony. One without the other is hearsay and inadmissible.

You always need to respond to their response and raise the point that they did NOT provide the answers and documentation you requested. You need to raise the point that they did not respond with a sworn affidavit of verification. They failed to validate. They failed to prove their claim. They are in default in their response/lack of response to the dispute and issues raised.  If you do not respond and call them out, you waive your right to claim they did not prove you owe them or that there is a valid contract.

I ALWAYS include the Maxim of Law - Silence Equates to Acquiescence (Agreement) in each of my letters.  This tells them that if they don't address even one item as requested, they agree that your statement of fact is true.  It is part of your full disclosure to them that you require a response and lack of receiving what is requested or demanded from them proves you owe them nothing.

So raise your disputes. Don't remain silent. Always be the last to respond until they respond that they are removing the item from your credit report and closing the alleged account.

If you need assistance with credit repair and want an expert on your side, contact me for an audit of your reports and consultation to go over what needs to be done for your credit and pricing plans that can get you up and running quickly.  Just a reminder that Future Fico is a non-profit so your service costs are donations that are tax deductible for you!

Contact me today!