60 Minutes Report Reveals The Broken Credit Report System In America
60 Minutes had an excellent expose of the credit reporting industry and how Equifax, Experian, and TransUnion are not concerned with fixing credit report errors.
The journalist on the story was Steve Kroft who really captured the frustration felt by so many consumers who cannot get the attention of the credit bureaus to fix a credit report with errors.
40 million Americans have errors — there are about 200… (Read more)
Alabama foreclosure: What you should look for in your credit reports to help stop the foreclosure
You’re facing a foreclosure in Alabama.
What should you look for in your credit reports to help you stop the foreclosure?
These suggestions are specific to Alabama.
Your state may be similar, but you will want to check on your state’s laws.
Does your credit report show that you are in foreclosure?
This is very common on credit reports.
As you approach a foreclosure… (Read more)
What happens with credit reporting after you win your collection trial?
When you are in court and you win, what happens with your credit reporting after the trial?
You want the debt removed from your report, but how does this happen?
Do you ask the judge?
Does this happen automatically?
In this post, we’ll discuss how to wrap things up after you win.
You go to court and you win your case. What happens now?
The judge does not control your… (Read more)
Why do credit bureaus believe furnishers over consumers?
Today, I wanted to talk with you about why do credit bureaus believe the creditor, or the debt collector, or a “furnisher” over you when you do a dispute?
You believe there’s something wrong with your credit report.
So, you reach out to the credit bureaus (TransUnion, Equifax, Experian) and tell them there is a problem with your Capital One account, your Portfolio Recovery account, or other debt collection account.
You tell… (Read more)
Example: Suing a debt collector for updating balance after pay for delete
Today, I wanted to share with you an example of a case we filed in the context of a pay for delete.
This is just one of the many cases we file against debt collectors for violating the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).
What is a pay for delete?
A pay for delete is when you call up a debt… (Read more)
The critical difference between deleting a debt from your credit report and killing a debt
Deleting a debt from your credit report is good, but the debt still lives. You can still be sued and the debt can be sold.
Think of it as a table with an object resting on top.
The debt is the table and the credit report is on top of the table.
If we can get rid of the credit reporting, excellent.
But the table,… (Read more)