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$1000 Credit Report Error | Notorious FCRA & FDCPA Violation - YouTube
Channel: Ask Kristin
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If the Bureau's don't add a
simple sentence to your credit
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report, they have to delete the
disputed account. And today, I'm
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going to show you what that
sentence is, why it works and
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how to use it with your own
accounts. I'm also going to show
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you an easy trick for collection
accounts to increase the chance
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of a violation, you're also
going to get four different
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methods to use. So stay to the
end of the video to see how to
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get the maximum results from
this tactic, and a breakdown of
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each of them. What's going on,
my name is Kristen, and welcome
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to another video. If this is
your first time here and want to
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learn more about fixing your
credit, increasing your scores
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and getting results with a
credit sweep, start now by
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subscribing and hitting the bell
so you don't miss anything. Now,
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the first thing we're doing is
checking out these two laws
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buried in hundreds of pages of
mumbo jumbo that make this whole
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tactic work. We're using FCRA,
section 623, a three, an FDCPA,
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section 8078. And both of them
see the same thing. If a
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consumer disputes an account
that needs to be marked as
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disputed on the credit report,
otherwise, it's a violation. So
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the sentence that needs to be
added to a credit report says
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disputed by consumer or
something similar, you're
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actually gonna see this in the
comment section of an account.
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Now, let's be honest about this.
Just because the laws say they
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need to put this notice on my
account, the truth is 90% of the
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time, a collector is not going
to add the sentence and the
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majority of the time, the credit
bureaus won't either. If they
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do, it's not going to be within
30 days, right. So you're likely
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to see added on like round two
or 60 days, but it doesn't
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matter. Their timeline was by
the 30th day after they received
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your first dispute, we're going
to prove they didn't do it by
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sending certified letters and
give them the choice of either
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liability to you for damages up
to $1,000 per occurrence or
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deletion of that account. The
key here is chain of custody,
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the more people are involved,
the more likely they'll be a
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mistake, because there's so many
people in the mix, right? Here's
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what do you mean, you contact
the collector, and they have to
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contact the Bureau's and the
Bureau's have to act in time.
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you contact the collector and
they have to contact the
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Bureau's and it's the same
thing. So here's a simple
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explanation of why this works.
And then I'm going to give you
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two example letters and four
methods. So at the beginning of
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the video, I said that just
because there's a lot, it
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doesn't mean they'll comply,
right? This goes for any FCRA or
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FDCPA. Law and violated all the
time. Because this isn't
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criminal law, it means we need
to do something about the
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violation to get what we want,
in this situation right are
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going to give them the option of
paying you or easily getting rid
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of you by deleting that account.
Hit the Like if you've ever
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heard someone use that sales
gimmick to sign you up for
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credit repair services, because
now you know the truth they want
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to pay you remember, their job
is to get you get rid of you as
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fast as possible and as cheaply
as possible, which is why they
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verify without an investigation
and ignore so many millions of
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consumers every single day. They
don't want a press release that
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lets millions of other consumers
know how easily you did this.
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All they have to do is get an
employee to remove this from the
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database and you go away. The
way this works is to use the
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validation of debt letters for
collections and to send them
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certified. So you can see a copy
of letter one on your screen
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right now. 30 days after the
receipt of this, they need to
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mark the account as disputed or
it's a violation, your letter to
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the credit bureaus will be a
factual dispute. And again, they
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have to mark the account as
disputed within 30 days. In the
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event that you file a small
claims you win because you're
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not there to argue whether
account is valid belongs to you
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has a credit balance or anything
else. It's only to prove that
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they're required notice the
dispute was not earned within 30
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days of the date they received
your first dispute in your
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certified mail receipt. First
and Second credit reports prove
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this End of story. Now here are
four methods. So method one is
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to dispute with the collectors
first, they're significantly
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less likely to enter the notice.
So if they count is still there,
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you can continue with the
validation of that method or
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file against them for failure to
notify. Right. So method number
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two is if you have collections,
you can first dispute with the
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collectors and then on room to
dispute with the Bureau's in
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addition to the collectors, and
you can either catch both of
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them for violations and file
against them or move on to
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factual disputes. Method three
is to do bureau only disputes.
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So you're either going to file
against them for failure to
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notify after round one or two or
keep the violation in your back
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pocket to take them to court if
the factual disputes do not
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work. And lastly, Do nothing for
the squeaky wheel. This is where
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you're doing collector and
bureau disputes, beginning
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around one validation of debt
and factual disputes. Notice
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intent to sue plus CFPB BBB ag
complaints and lastly file
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against both. So to recap, when
you send a dispute that account
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needs to be marked as disputed
within 30 days, and you can
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easily remove an account in
violation using the methods we
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just went over. If you'd like to
learn more about using these
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four methods, or on how to do
factual disputes, check out the
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links in the description. You'll
also find a link to schedule a
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call with me if you'd like to
see if I can do your credit
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sweep for you. That's all for
today. So click on the next
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video and I will see you there
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