3 Tricks to use against the Credit Reporting Bureaus when disputing negative items on your credit report

Patience: #1 thing needed for successful credit repair

The only difference between Yourself and Me or any other Credit Repair company is that I and hopefully they have sorted through the long and boring regulations and codes in the FTC: FDCPA, FCRA and a few other agencies that protect consumers. 

I do not have a magic wand or know a secret code that grants me the power to erase your negative credit items. I wish it was something that cool. Luckily for you it’s much more obtainable and practically anyone could do it. If they wanted to that is. Even luckier is the fact I’m going to share my knowledge with you, for free, right here in this blog. 

Let’s get right to it. 

1. Double Jeopardy: A collection account reporting twice by multiple collection agencies. If you don’t pay a collection account, it may wind up with a second — or third — collection agency, resulting in multiple negative items on your credit reports. Sometimes referred to as “double jeopardy,” two or three collection accounts for the same debt can affect your credit scores. What will change: When collection agencies sell, transfer or no longer manage accounts they must update or delete the account. The agreement requires the CRAs to update they're training materials for these companies that report, and make sure they know and follow this requirement. Collection agencies are already supposed to provide the name of the original creditor and a “classification code” that indicates the type of debt (for example, credit card or medical). Under the agreement, the CRAs must make this information mandatory and can reject accounts that don’t meet the standards. Note that you still won’t see the names of medical providers because doing so may compromise your right to medical privacy; for example, if your credit report showed the name of a substance abuse rehabilitation clinic or a cancer center. “Privacy is the issue here,” says Norm Magnuson vice president of public affairs for the Consumer Data Industry Association. “The collection account is codified so that others who receive the credit report can’t identify the medical facility. The consumer can get the medical facility’s name from the collection agency and/or the credit bureau if they want to validate the debt or don’t know for whom the collection agency is working the debt.”

2. Fighting E-Oscar: A bad ass collection letter designed to get the attention of the bureaus and beat E- Oscar. The e-Oscar method of investigating credit disputes may be the reason your credit dispute was verified as being accurate when you are positive a mistake has occurred. Credit reporting agencies (CRAs) have created an automated computerized system of dealing with consumer credit disputes. The e-OSCAR (the Online Solution for Complete and Accurate Reporting) began in 1993 and is owned by 4 companies – Equifax, Experian, Innovis, and TransUnion. The e-OSCAR system enables Experian, Transunion, Equifax, and other consumer reporting agencies to create and respond to consumer credit history disputes automatically, without conducting any real investigation. The e-Oscar method of investigation converts consumer disputes into a two or three digit code. It eliminates the consumer reporting agencies’ responsibility to conduct actual dispute investigations in compliance with the Fair Credit Reporting Act (FCRA).

3. Persistence and Patience : Credit Repair can take up to 6 months but give it 90 days to really begin to show improvement. Remember the rule of the 3’s. You will start by sending 3 waves of letters for 3 months to each bureau only disputing 3 items at a time. This letter is amazing for first contact with your creditors and the bureaus. It has it all. Statements that show you know your rights. Legal Jargon that urges the enemy to surrender and delete without a fight your bad items. A format that tricks E-Oscar and gets your letter into a human hand where your chances of deletion go up by 60%. 

Date

Your Name

Your Address

Name of creditor/collection agency

Address of creditor/collection agency

Re: Acct # 000-9990-7765

To Whom It May Concern:

This letter is regarding a negative inaccurate account or accounts, which you claim (insert a derogatory condition here, such as “I owe $200.00” or “My account was charged off $800.00”) This is a formal notice that your erroneous claim(s) is/are now disputed.

I am requesting validation, made pursuant to the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, along with the corresponding local state laws. Please note that I am requesting “validation” that is competentevidence bearing my signature, showing that I have (or ever had) some contractual obligation to pay you. Be advised that the method of validation is hereby requested along with the procedure used to determine the accuracy and completeness’s of the information is hereby requested. 

As per FTC opinion letter from Attorney General John F. LeFevre, you should be aware that a printout of a bill or itemized document does not constitute verification.

Additionally, please provide the names, addresses, and telephone numbers of each person who personally verified this alleged account, so that I can inquire about how they “verified” without providing any proof, bearing my signature? 

Please also be aware that any negative mark found on my credit reports including (Experian, Transunion, Equifax) from your company or any company that you represent, for a debt that I don’t owe, is a violation of the FCRA & FDCPA; therefore, if you cannot validate the debt, you must request that all credit reporting agencies delete the entry. 

Pending the outcome of my investigation of any evidence that you submit, you are instructed to take no action that could be detrimental to any of my credit reports.

Failure to respond within 30 days of receipt of this certified letter may result in small claims legal action against your company at my local venue. I would be seeking a minimum of $1,000.00 in damages per violation:

• Defamation 
• Negligent Enablement of Identity Fraud
• Violation of Fair Debt Collection Practices Act (including but not limiting to Section 807-8)
• Violation of the Fair Credit Reporting Act (including but not limited to Section 623-b)

Please Note: This notice is an attempt to correct your records, and any information received from you will be collected as evidence should any further action be necessary. This is a request for information only, and is not a statement, election, or waiver of status.

My Contact Info is as follows:

Your Name (printed never sign)

Your current address 

SSN

P.S. Please be aware that dependent upon your response, I may be detailing any potential issues with your company via an online public press release, including documentation of any potential small claims action. I am also including a copy of my complaint to the organizations below:

CC: Consumer Financial Bureau

CC: Attorney General’s Office

CC: Better Business Bureau 

Credit Pro Tip: The key to boosting your credit score is to have more available credit than credit you have used. For example, if you have $500 of total credit on your credit report and you are using $499 of that credit, your credit score will be terrible. If you add a tradeline (an account) with $5,000 worth of available credit your credit score will increase greatly because now you are only using $499 of the $5,500 total available credit.

To boost your personal credit score by 100 or more points, you can do it with the attached easy and fast primary tradelines list. I recommend getting the myjewelersclub tradeline first. They report to all three Credit Bureaus on the 1st of each month and that $5,000 primary tradelines alone usually causes a 50 to 75 point boost to your score.

You can also get an additional 30 to 60 point boost by adding a two year rental history to your credit report. I have included a link to a company that will add up to 2 years rental history to your credit report in just 2 weeks. They will also add multiple rental histories if you have lived in two or more locations. 

Good Luck 

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