Dixiedrifter
New Member
Posted from another thread:
So does anyone have any questions for me?
Jon said:
So does anyone have any questions for me?
-
Check out this this free event.
Credit repair... fact or fallacy?
- Thread starter Dixiedrifter
- Start date
O
OrangeCrest
Guest
Funny... I think this is the first time I heard a credit report person actually say something that I couldn't find any inconsistencies with, accept there is no notation how this was accomplished: paid creditor with the written aggreement that they would remove this if they recieved full payment?...
I would still beware of the many many scams out there regarding credit repair.
Anything that a credit repair service can do, you can do yourself.
Log onto http://www.ftc.gov and type in "credit repair" under the search and see everything that pops up.
8,027 results... http://search.ftc.gov/query.html?qt=credit+repair&col=hsr&col=news&col=full
Pulled from the FTC's site -- http://www.ftc.gov/opa/1997/04/croa2.htm
Any questions you may have can be answered by logging onto the FTC's site and seeing the laws on the books regarding credit and credit repair.
I would still beware of the many many scams out there regarding credit repair.
Anything that a credit repair service can do, you can do yourself.
Log onto http://www.ftc.gov and type in "credit repair" under the search and see everything that pops up.
8,027 results... http://search.ftc.gov/query.html?qt=credit+repair&col=hsr&col=news&col=full
Pulled from the FTC's site -- http://www.ftc.gov/opa/1997/04/croa2.htm
"Every year people fall prey to credit repair scams," said Jodie Bernstein, Director of the FTC’s Bureau of Consumer Protection. "The schemes often target consumers who are unemployed, divorced, or have medical bills -- people who are vulnerable and susceptible to scams. These con artists charge hundreds of dollars and claim they can ?fix’ credit reports so that accurate timely information about the consumer’s credit history will no longer appear. These claims are false.
Any questions you may have can be answered by logging onto the FTC's site and seeing the laws on the books regarding credit and credit repair.
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Dixiedrifter
New Member
There is absolutely no way anyone can guarantee anything when doing credit repair because there is no way that you, me or anyone else can predict when a company, a collection agency, or credit bureau will choose to follow the law.
Credit repair companies such as Lexington Law have made things much harder to dispute off reports. Lexington Law uses spam disputes with the credit bureaus to get deletions for its customers. Now then with over 100,000 disputes in a years time the credit bureaus have caught on and lots of folks doing legitamite disputes are getting hit with "your using a credit repair company" and only allowing one dispute per tradeline.
Now then coupled with the fact that most companies are using a universal computer reporting program called E-OSCAR to report to the three bureaus, when a consumer disputes something it goes to the data furnisher computer, which automatically compares the information and sends it back to the credit bureau.
The pitfall of this is that if something is wrong on the creditors computer, it gets verified with the credit bureau and nothing short of a lawsuit will get it off because there is no human intervention. The consumer is stonewalled at the credit bureau level because they cannot redispute, and noone from the creditor will listen. Its very very scary situation when false negative information such as identity thefts are inserted into a credit report and can be a serious pain in the arse to fix.
The FTC is partially right on the you can fix your own credit for free. But, having someone who knows the laws, what to say, and who to contact can greatly increase your success rate. It also helps that the person knows when to say things.
The primary goal when doing credit repair is to build a paper trail of credit reporting law violations to use in court against whoever you want off your reports. Many times if you have suit leverage and the associated potential for actual and statutory damages, you can simply negotiate for an early deletion in lieu of dragging them into court.
By hiring the right person to do your commuincating for you, if any item is failed to get removed, you have your stack of letters and other evidence ready and waiting to be handed over to an attorney to file suit.
Also doing credit repair can get you sued if you have outstanding debts because creditors frequently monitor activity on debtors reports. You need to know when your states statute of limitations has expired. For instance, on credit card debt in TN, they have 6 years from the time you defaulted on the account to file suit. After that time the suit is time barred and will get tossed out by the judge if properly defended.
Mississipi, North Carolina, and Alabama have shorter times to sue, which is 3 years respectively. North Carolina is a no wage garnishment state along with Florida (for the primary income provider of the household) and TX.
Credit repair companies such as Lexington Law have made things much harder to dispute off reports. Lexington Law uses spam disputes with the credit bureaus to get deletions for its customers. Now then with over 100,000 disputes in a years time the credit bureaus have caught on and lots of folks doing legitamite disputes are getting hit with "your using a credit repair company" and only allowing one dispute per tradeline.
Now then coupled with the fact that most companies are using a universal computer reporting program called E-OSCAR to report to the three bureaus, when a consumer disputes something it goes to the data furnisher computer, which automatically compares the information and sends it back to the credit bureau.
The pitfall of this is that if something is wrong on the creditors computer, it gets verified with the credit bureau and nothing short of a lawsuit will get it off because there is no human intervention. The consumer is stonewalled at the credit bureau level because they cannot redispute, and noone from the creditor will listen. Its very very scary situation when false negative information such as identity thefts are inserted into a credit report and can be a serious pain in the arse to fix.
The FTC is partially right on the you can fix your own credit for free. But, having someone who knows the laws, what to say, and who to contact can greatly increase your success rate. It also helps that the person knows when to say things.
The primary goal when doing credit repair is to build a paper trail of credit reporting law violations to use in court against whoever you want off your reports. Many times if you have suit leverage and the associated potential for actual and statutory damages, you can simply negotiate for an early deletion in lieu of dragging them into court.
By hiring the right person to do your commuincating for you, if any item is failed to get removed, you have your stack of letters and other evidence ready and waiting to be handed over to an attorney to file suit.
Also doing credit repair can get you sued if you have outstanding debts because creditors frequently monitor activity on debtors reports. You need to know when your states statute of limitations has expired. For instance, on credit card debt in TN, they have 6 years from the time you defaulted on the account to file suit. After that time the suit is time barred and will get tossed out by the judge if properly defended.
Mississipi, North Carolina, and Alabama have shorter times to sue, which is 3 years respectively. North Carolina is a no wage garnishment state along with Florida (for the primary income provider of the household) and TX.
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Jon
New Member
I'm aware of debit/credit as most here are, or I sure hope they are and this has been an interesting thread.
Let's take this in a slightly different direction, one that will affect each and everyone of us very soon.
Your bank, your checks and you.
How many of you pay for your checks? I would say most of us and once you pay for them then you own then, not the bank so we get them back with our statements each month, right?
Good, now how many of you are not getting them back but getting a photo copy instead? Ah a lot of you and I bet not one has bothered to contact your bank and tell them you do not want photo copies but you want your checks back.
I pay for them, I demand them back and get them, even if they charge me $2 for mailing. Now there is a new law that the banking industry wanted which they are useing 9-11 as a reason to not send your checks back to you anymore, they copy them, destory them and heaven forbid you ask for a copy they will charge you around $10 to $25 a copy.
They claim it will prevent fraud, terroism and a few other things.
Contact you reps and tell them you want that law rescinded.
Also that you do not want your bank and HMO and other insurance companies to be allowed to off shore to India with your confidential/personal information.
It is being done now, do you trust those in another country with that information? If not start writing letters and I mean lots of them.
Let's take this in a slightly different direction, one that will affect each and everyone of us very soon.
Your bank, your checks and you.
How many of you pay for your checks? I would say most of us and once you pay for them then you own then, not the bank so we get them back with our statements each month, right?
Good, now how many of you are not getting them back but getting a photo copy instead? Ah a lot of you and I bet not one has bothered to contact your bank and tell them you do not want photo copies but you want your checks back.
I pay for them, I demand them back and get them, even if they charge me $2 for mailing. Now there is a new law that the banking industry wanted which they are useing 9-11 as a reason to not send your checks back to you anymore, they copy them, destory them and heaven forbid you ask for a copy they will charge you around $10 to $25 a copy.
They claim it will prevent fraud, terroism and a few other things.
Contact you reps and tell them you want that law rescinded.
Also that you do not want your bank and HMO and other insurance companies to be allowed to off shore to India with your confidential/personal information.
It is being done now, do you trust those in another country with that information? If not start writing letters and I mean lots of them.
Dixie this is part of your post.
Also doing credit repair can get you sued if you have outstanding debts because creditors frequently monitor activity on debtors reports. You need to know when your states statute of limitations has expired. For instance, on credit card debt in TN, they have 6 years from the time you defaulted on the account to file suit. After that time the suit is time barred and will get tossed out by the judge if properly defended.
What if you just file bankruptcy. All judgments against you are dropped. Can they re-file a laws suit against you after that. ????
Also doing credit repair can get you sued if you have outstanding debts because creditors frequently monitor activity on debtors reports. You need to know when your states statute of limitations has expired. For instance, on credit card debt in TN, they have 6 years from the time you defaulted on the account to file suit. After that time the suit is time barred and will get tossed out by the judge if properly defended.
What if you just file bankruptcy. All judgments against you are dropped. Can they re-file a laws suit against you after that. ????
Dixiedrifter
New Member
Dan Flynn said:
Filing bankruptcy causes all collection activity to automatically be stayed by the courts. However, if you get hit with a judgment before your bankruptcy is discharged it will still remain with the courts, albeit unenforceable. You then have to go and file a motion to vacate the judgment based on it now being void by the bankruptcy discharge. Once you get the judgment vacated you then dispute it with the credit bureaus. Basically a vacated judgment is like it never happened at all.
And to answer your question about getting sued twice after bankruptcy, that is something the courts call res judicata which is latin for "this has already been decided" and a big time violation of the bankruptcy statutes. The courts seriously frown on such things and usually levy heavy sanctions against those that decide to double dip.
O
OrangeCrest
Guest
Hey Dan...
This is what happens to those who try to collect debts wrongly...
http://www.ftc.gov/os/caselist/0223222/040324cag0223222.pdf
It is about to get a lot worse for them because they continue to violate the laws regarding collections.
This company attempts to collect debts that are well past the statute of limitations (some 20-years plus, pass the original default date, which includes discharged debts by bankruptcies). They even, and others as well, will insert their name onto your credit report in the inquiry section where it will remain for two-years (giving the person you are appling for credit with an access point to past credit problems or errors and not have to tell you this was the reason for dening you credit). You can easily remove this yourself by letting the reporting agency know that they are linking out dated (disputed or not) debt.
You can also make a complaint to the FTC at http://www.ftc.gov , and tell them how you are being victimized.
I take full credit for the FTC swooping in on CAMCO, because I logged onto ripoffreport.com and hit that board everyday telling people who were being victimized to complain to the FTC. It worked, the FTC is after blood now and I have had news gencies also become very interested in it as well. Ha Ha!!
I should have been a corporate attorney because I love going for the throat and won't let go until they are lifeless... :burn:
Run a search on CAMCO or Capital Acquisitions and Management
This will teach you practically everything you need to know about what can and can not be done by law.
Another link would be to find out about companies that rip people off at:
http://www.ripoffreport.com
http://www.ripoffreport.com/results...chtype=0&submit2=Search!&q5=camco&daterange=6
This is what happens to those who try to collect debts wrongly...
http://www.ftc.gov/os/caselist/0223222/040324cag0223222.pdf
It is about to get a lot worse for them because they continue to violate the laws regarding collections.
This company attempts to collect debts that are well past the statute of limitations (some 20-years plus, pass the original default date, which includes discharged debts by bankruptcies). They even, and others as well, will insert their name onto your credit report in the inquiry section where it will remain for two-years (giving the person you are appling for credit with an access point to past credit problems or errors and not have to tell you this was the reason for dening you credit). You can easily remove this yourself by letting the reporting agency know that they are linking out dated (disputed or not) debt.
You can also make a complaint to the FTC at http://www.ftc.gov , and tell them how you are being victimized.
I take full credit for the FTC swooping in on CAMCO, because I logged onto ripoffreport.com and hit that board everyday telling people who were being victimized to complain to the FTC. It worked, the FTC is after blood now and I have had news gencies also become very interested in it as well. Ha Ha!!
I should have been a corporate attorney because I love going for the throat and won't let go until they are lifeless... :burn:
Run a search on CAMCO or Capital Acquisitions and Management
CAMCO
Capital Acquisitions and Management
This will teach you practically everything you need to know about what can and can not be done by law.
Another link would be to find out about companies that rip people off at:
http://www.ripoffreport.com
http://www.ripoffreport.com/results...chtype=0&submit2=Search!&q5=camco&daterange=6
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CaroliProWash
New Member
This is an excellent informative thread - I usually avoid the "not business related" type threads but I am certainly glad I took a look at this one. I even printed it out for easier reading. Kudos for those who have done the research and passed it on.
Thanks,
Celeste
Thanks,
Celeste