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)
How Do I Pull My Credit Reports For Free in Alabama? You know you should pull your credit reports — it is critical to find out if there are errors, if there are errors then dispute them, so that you can have an accurate credit report. But how do you pull your reports for free? Avoid the scams and the traps set by the credit reporting agencies. Instead, you can pull your real official reports once every 12 months by… (Read more)
If One Collector Sells A Debt To Another, Will It Stay On My Credit Report Longer? Time period to stay on your report is 7 years from default regardless of who owns the debt. No. The time period for an account to stay on your credit report is 7 years after you default. This is dictated by the FCRA (Fair Credit Reporting Act). Selling the debt does nothing to change this law. Sometimes debt collectors (debt buyers) will claim to… (Read more)
5 Dirty Tricks Alabama Debt Collectors Use On Your Credit Reports. Debt collectors love to mis-use the incredible power of credit reporting in order to force you to pay them and the abusive ones don’t mind breaking the law to do so. There are five common dirty tricks related to credit reports that collectors enjoy using. We’ll list these out and then in separate articles we will take them one at a time. Re-aging the debt; Sue you and lose… (Read more)
Debt Collection — Who Has To Prove Whether You Owe The Debt? It depends on where you are at in the collection process. As a general rule the debt collector, who has contacted you claiming you owe the debt, must prove that you owe the debt. Let’s look at it this way. If a debt collector sues you, it absolutely has the obligation to prove, in court, that you owe the debt. You can read more about debt collector (debt… (Read more)
Why Do Consumer Protection Statutes Have “Fee Shifting” To Help Consumers under the FDCPA? The short answer is that it allows you, as a consumer, to hire a competent lawyer even if you can’t afford to spend $10,000 or $100,000 on a skilled lawyer. The additional reason is that it is a wonderful motivator for abusive debt collectors (Fair Debt Collection Practices Act)n and credit reporting agencies (Fair Credit Reporting Act) and the companies that furnish false credit reporting information… (Read more)