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)
Form and Substance of Dispute Letter For Credit Report Errors
You have pulled your credit reports and realize you have credit report errors and you know you must dispute the error with the credit reporting agencies.
Also, you know you must dispute it in writing by certified mail, return receipt requested (no online disputes — that is a trap set by the reporting agencies — don’t fall for it — send your disputes by mail).
You must do this in… (Read more)
Fixing Credit Report Errors: Who Do You Send A Dispute Letter To?
You have an error on your credit report.
You need it fixed.
Who do you send your dispute letter to in order to repair your credit report errors?
It makes sense to dispute directly with the company providing the false information to the credit reporting agencies, right?
It does but this will get you no-where. Legally the furnisher of the information (unless a debt collector) has no obligation… (Read more)
Turn The Collection Lawsuit Into A Suit Against The Debt Collector.
You’ve been sued by a debt collector (debt buyer) like Asset Acceptance, LVNV, Midland or Portfolio Recovery.
You know that you don’t owe any money to the debt buyer and you know the debt buyer normally either can’t or won’t prove it owns the debt.
Do you just have to accept that you have sued by some bogus debt collector?
Or is there anything that you can do about… (Read more)
Why Collectors Hate To Mark Your Account As “Disputed” On Credit Reports
We previously wrote about how collectors must mark your account as “disputed” on your credit reports when you dispute it. But why don’t the debt collectors want to do this?
There Is Only One Reason Debt Collectors Credit Report.
Collectors will act pious and say they owe some obligation to creditors around the world to report you as being in collection. That’s complete garbage.
The only reason collectors… (Read more)
If You Dispute A Debt, The Collector Must Mark It As “Disputed” On Your Credit Report.
Disputing A Collection Debt Can Help Your Credit Report
If you dispute a debt to a debt collector, this can be beneficial in several ways.
First, it lets the collector know that you are not agreeing to the debt.
Note: not disputing does not mean you agree to the debt but sometimes collectors who don’t understand the law think this…
Second, if the debt… (Read more)