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)
“What Is The Time Limit For Collectors To Credit Report In Alabama?”
Debt collectors love to threaten to (and actually do) credit report collection accounts on your credit reports.
This has a terrible negative impact on your credit reports.
So, how long can a collection account be reported on your credit reports?
We have previously discussed the general time limits for collecting. And how long a debt collector (debt buyer) has to sue you in Alabama.
But today we will… (Read more)
Three Time Periods For Collectors To Collect Debts.
Alabama consumers often ask “How long can the collection agency collect against me and what is the Statute of Limitations on credit reporting and suing?”
This question actually touches on three separate time limits.
First, a collector generally has three to six years to sue you. This is the statute of limitations.
Also, to be precise, a collection agency must actually own the debt to sue you.
Second, a collector can report… (Read more)
“I’m Nervous About Giving A Deposition — Is This Normal?”
Yes, it is normal to be concerned when your deposition has been scheduled.
Let’s first talk about what a deposition is and then we’ll talk about what to do in one.
If you are even thinking about one, it means you are in a lawsuit. Or you are about to be in a lawsuit.
What is a deposition?
A deposition is when you will be questioned by the lawyers on… (Read more)
Sample Credit Report Dispute Letter On Settled Debt Reporting Falsely.
When you have an account on your credit report that is showing a balance, but you have previously settled it, then this is normally false credit reporting that needs to be disputed by certified mail to the credit reporting agencies and copied (also by certified mail) to the furnisher of the information.
Here is a sample for you to consider…. Couple of things to keep in mind.
First, since this… (Read more)
Sample Credit Report Dispute Letter on Account That Is Not Yours.
We have already discussed that you have a right to accurate credit reports.
When there is false information it needs to be disputed to the credit reporting agencies (and often the furnisher), it needs to be sent by certified mail.
Remember to keep a signed copy of your letter and all attachments.
Here is an example of what to say in a letter on an account that is not… (Read more)