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Monday, March 30, 2015
Sunday, March 29, 2015
Saturday, March 28, 2015
Friday, March 27, 2015
Credit Repair Dispute Letter
Here is a sample credit dispute letter. Please, remember to use COPIES not originals and get your FREE credit report from Credit Karma make a copy to send with all your documentation. Send it certified mail return receipt requested. Also, keep a copy of your letter for your records. Be looking out for a video this week coming up on proper documentation and how to keep files of all disputes and actions taken.
[Your Name]
[Your Address]
[Your City, State, Zip Code]
[Date]
Complaint Department
[Company Name]
[Street Address]
[City, State, Zip Code]
Dear Sir or Madam:
I am writing to dispute the following information in my
file. I have circled the items I dispute on the attached copy of the report I
received.
This item [identify item(s) disputed
by name of source, such as creditors or tax court, and identify type of item,
such as credit account, judgment, etc.] is [inaccurate
or incomplete] because [describe what is
inaccurate or incomplete and why]. I am requesting that the item be
removed [or request another specific change] to
correct the information.
Enclosed are copies of [use this
sentence if applicable and describe any enclosed documentation, such as payment
records and court documents] supporting my position. Please
reinvestigate this [these] matter[s] and [delete or correct]
the disputed item[s] as soon as possible.
Sincerely,
Your name
Enclosures: [List what you are
enclosing.]
Thursday, March 26, 2015
Consumer Finance:
According to the FTC
Millions of Americans have been struggling with their finances as a result of tough economic times in recent years, and stopping scammers from stealing consumers’ last dollars is an ongoing priority for the Federal Trade Commission. The FTC has a range of tools to do this, including the FTC Act, which prohibits unfair or deceptive business practices. The agency also takes action by issuing regulations to protect consumers, including rules covering mortgage foreclosure assistance services, credit reports, mortgage advertising, debt relief services sold by telemarketers and other financial products and services. The FTC’s authority covers for-profit entities such as mortgage companies, mortgage brokers, creditors, and debt collectors – but not banks, savings and loan institutions, and federal credit unions. The agency also has law enforcement and, in some cases, regulatory powers under the Truth in Lending Act, the Home Ownership and Equity Protection Act, the Consumer Leasing Act, the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Credit Repair Organizations Act, the Electronic Funds Transfer Act, and the privacy provisions of the Gramm-Leach-Bliley Act. The FTC’s extensive consumer education efforts help consumers manage their financial resources, avoid fraud and deception, and learn about emerging scams.
.
In 2010, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among other things, Dodd-Frank establishes a new Consumer Financial Protection Bureau with the authority to supervise and regulate entities that offer or provide consumer financial products or services. The CFPB will enforce over a dozen consumer financial protection laws, including the Fair Credit Reporting , Fair Debt Collection Practices Act, and Truth-in-Lending Act. In addition, the CFPB will have the power to stop practices that are “unfair, deceptive, or abusive.” The FTC shares authority with the CFPB to enforce the consumer protection laws with respect to non-bank financial institutions.
Source of this entire article the sole property of the FTC and this links directly to FTC page.
Wednesday, March 25, 2015
Credit Dispute Letters
The Fair Credit Reporting Act or FCRA of 1970 has recently been strengthened in order to allow anyone to dispute negative items on their credit report. This must be done with a letter of dispute then the credit bureaus must either delete the listing within 30 days or verify it with the company who reported the listing. The key to repairing bad credit is to write a properly formatted letter of dispute to one (if it’s only listed with one bureau) or all 3 credit bureaus and send them out via registered mail (return receipt requested) for your records. Always include copies of your credit in the letter or letters, not originals (because you will NOT get your originals back). Below is a step-by-step guide to writing a letter of dispute. Also, this week on my blog, Facebook, and website
Get Your Credit Report
Once you have received your credit report and noticed that there is an error, outdated listing or a bad listing that does not have anything to do with you, or has been reported incorrectly, it is important to look over the details and dispute these mistakes first. Make sure that for each listing on your credit report, you check the personal identification information. Like your name (correct spelling) address or addresses you have lived. Often, a listing that is not yours can end up on your report because it seems to match up with your details. If you dispute these types of errors first, other mistakes on your credit report will be corrected only if it’s really not yours.
Make a List of Items to Dispute
Once you have made sure that each of the incorrect personal detail listings are accounted for now look at all of the other derogatory marks on your credit report. List these from most damaging (will be doing a video later this week on how to start) right down to neutral. For instance, a bankruptcy, repossession, short sale (I will go over short sales in a later post) far more harmful than a late payment or credit rejection.
Once you have all of the necessary disputable listings set out in front of you, begin writing your first letter of dispute (will be doing a video later this week on how to start). Each of the three credit reporting agencies should be addressed, even if these derogatory listings only appear in one or two of the reports. If the three reporting agencies are addressed with a letter of dispute for each questionable listing, it will lower the possibility that, later on, these items do not appear on your other credit reports.
Send Each Dispute Separately
All listings, apart from incorrect personal data disputes, must be written out and sent separately (take the time do it right). If you try to dispute several items at once not only it is likely but almost guaranteed that the bureau will reject your claim on the grounds of it being irrelevant. Credit reporting agencies are required by law to investigate and accept that all disputes are legitimate unless they have evidence to prove otherwise. So don't give up.
Personalize Your Letters
When writing the letters of dispute, some suggest handwriting them rather than typing them out. I disagree because I’ve seen some pretty bad handwriting (my dad and well me) so if you have bad hand writing don’t be upset just type it out. Make sure you use strong words that will make it clear to the TransUnion, Equifax, and Experian that the mentioned listing is being disputed. Examples of these words are erroneous, outdated, misleading or unverifiable. Do not spend time explaining things in your letter of dispute, explanations are not considered useful. When the reporting agency receives your letter, they are then required to investigate the listing you have disputed.
If you are unsure of the format of dispute letters, I will post samples after this post (stay tuned). These samples give you a good idea on how a dispute letter should be formatted and what details should be completed to get the maximum effect.
It will take between 2 weeks to a month to receive a reply from TransUnion, Equifax, and Experian letting you know that your letter has been received (you should already know it’s been received because you sent it certified/return receipt requested) and your dispute is being investigated. After a further 2-4 weeks, a new credit report should be received from the reporting agency to confirm that the item has been removed from you report or other actions taken.
Once the updated credit report has been received, you can then address the next dispute that you have until you have had all of the disputed.
•Sometimes, credit reporting agencies are slow to respond or choose not to respond at all. If this is the case, you will need to send another letter to them to remind them that they are obliged by law to address your dispute. If this becomes a problem I have sample letters written by attorneys that cover the laws.
• Disputing items on your credit report is no easy task, you will need a great deal of patience and persistent and DO NOT give up. Remember that the credit reporting agencies are required by law to investigate your disputes, so don't let them bully you into thinking that it is not possible to have things removed from your credit report.
• For those who don't have the time or are having difficulties with the credit reporting agencies, there are legal services available that will dispute the items for you at a small fee. (see add below)
www.creditrepairman21.com
www.handbags4you.com
Get Your Credit Report
Once you have received your credit report and noticed that there is an error, outdated listing or a bad listing that does not have anything to do with you, or has been reported incorrectly, it is important to look over the details and dispute these mistakes first. Make sure that for each listing on your credit report, you check the personal identification information. Like your name (correct spelling) address or addresses you have lived. Often, a listing that is not yours can end up on your report because it seems to match up with your details. If you dispute these types of errors first, other mistakes on your credit report will be corrected only if it’s really not yours.
Make a List of Items to Dispute
Once you have made sure that each of the incorrect personal detail listings are accounted for now look at all of the other derogatory marks on your credit report. List these from most damaging (will be doing a video later this week on how to start) right down to neutral. For instance, a bankruptcy, repossession, short sale (I will go over short sales in a later post) far more harmful than a late payment or credit rejection.
Once you have all of the necessary disputable listings set out in front of you, begin writing your first letter of dispute (will be doing a video later this week on how to start). Each of the three credit reporting agencies should be addressed, even if these derogatory listings only appear in one or two of the reports. If the three reporting agencies are addressed with a letter of dispute for each questionable listing, it will lower the possibility that, later on, these items do not appear on your other credit reports.
Send Each Dispute Separately
All listings, apart from incorrect personal data disputes, must be written out and sent separately (take the time do it right). If you try to dispute several items at once not only it is likely but almost guaranteed that the bureau will reject your claim on the grounds of it being irrelevant. Credit reporting agencies are required by law to investigate and accept that all disputes are legitimate unless they have evidence to prove otherwise. So don't give up.
Personalize Your Letters
When writing the letters of dispute, some suggest handwriting them rather than typing them out. I disagree because I’ve seen some pretty bad handwriting (my dad and well me) so if you have bad hand writing don’t be upset just type it out. Make sure you use strong words that will make it clear to the TransUnion, Equifax, and Experian that the mentioned listing is being disputed. Examples of these words are erroneous, outdated, misleading or unverifiable. Do not spend time explaining things in your letter of dispute, explanations are not considered useful. When the reporting agency receives your letter, they are then required to investigate the listing you have disputed.
If you are unsure of the format of dispute letters, I will post samples after this post (stay tuned). These samples give you a good idea on how a dispute letter should be formatted and what details should be completed to get the maximum effect.
It will take between 2 weeks to a month to receive a reply from TransUnion, Equifax, and Experian letting you know that your letter has been received (you should already know it’s been received because you sent it certified/return receipt requested) and your dispute is being investigated. After a further 2-4 weeks, a new credit report should be received from the reporting agency to confirm that the item has been removed from you report or other actions taken.
Once the updated credit report has been received, you can then address the next dispute that you have until you have had all of the disputed.
•Sometimes, credit reporting agencies are slow to respond or choose not to respond at all. If this is the case, you will need to send another letter to them to remind them that they are obliged by law to address your dispute. If this becomes a problem I have sample letters written by attorneys that cover the laws.
• Disputing items on your credit report is no easy task, you will need a great deal of patience and persistent and DO NOT give up. Remember that the credit reporting agencies are required by law to investigate your disputes, so don't let them bully you into thinking that it is not possible to have things removed from your credit report.
• For those who don't have the time or are having difficulties with the credit reporting agencies, there are legal services available that will dispute the items for you at a small fee. (see add below)
www.creditrepairman21.com
www.handbags4you.com
Wednesday, March 18, 2015
Understanding Your Credit Report
A credit report is a record of the borrower's financial
record from various sources, including banks, credit organizations, gathering
offices, and the government. In the United States, such reports are kept up by
the three national credit reporting departments Equifax, Experian, and
TransUnion. A borrower's FICO assessment is the result of a mathematical calculation
connected to a credit report and different sources of data to anticipate future
credit ratings and activity.
In numerous nations, when a client fills out an application
for credit from a bank, store or credit
organization, their data is sent to a credit authority. The credit
department coordinates the name, location and other recognizing data on the applicant
for data held by the agency in its documents. That is the reason it is vital
for banks,
moneylenders and others to give exact information to credit authorities.
This data is utilized by loan specialists, for example, Visa/MasterCard to focus a person’s credit value; that is, deciding a person’s capacity and reputation of reimbursing an obligation. The ability to
reimburse an obligation is demonstrated by how borrowers past installments have been made to different banks and other creditors. Moneylenders like to see purchaser’s obligation and commitments paid consistently and on time.
There has been much talk over the precision of the
information in credit reports. By and large, industry creditors the information
in credit reports accurate as possible. The credit authorities point to their
own investigation of 52 million credit reports to highlight that the information
in reports is extremely accurate. The Consumer Data Industry Association
affirmed before the United States Congress that under 2% (or just over
1,000,000) of those credit reports that had questions had information erased because
of an error. Nonetheless, there is far reaching worry that data in credit reports
contain errors. So Congress has authorized laws to determine both the mistakes
and the perceptions of mistakes.
In the event that consumer questions data in a creditreport, the credit agency has 30 days to confirm the information. More than 70
percent of these consumer questions are determined inside 14 days and after
that the buyer is told of the resolution. The Federal Trade Commission
expresses that one huge credit agency noticed 95 percent of the individuals who
file a grievance are satisfied by the result.
The other factor is whether a loan specialist will give a
buyer credit or an advance is based on income. The higher the salary, all
different things being equal, the more credit the buyer will most likely obtain.
In any case, loan specialists take into account both capacity to reimburse an
obligation (pay) and willingness (the credit report report) as demonstrated by
a past filled with normal, unmissed installments or payments.
These components help loan specialists figure out how much
credit maybe extended, and on what terms. With the risk-based pricing more prevalent
in all most all lending and money related industries, this report has gotten to
be significantly more essential since it is normally the sole component used to
pick the yearly rate (APR), grace period and other contractual commitments of
the Visa/MasterCard or other type loans.
The Fair Credit Reporting Act promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies (CRAs). To ensure compliance, the agency pursues an aggressive enforcement program aimed at the main players in the credit reporting system – CRAs, those who send them information, and consumer report users. In recent years, the FTC has sued the three nationwide CRAs – Equifax, Experian, and TransUnion – obtaining nearly $3 million in civil penalties. The FTC also sued a major consumer data broker, ChoicePoint, Inc., and made them pay $15 million in penalties and consumer refunds for not screening prospective subscribers before selling them sensitive consumer information. The FTC also charged companies with furnishing inaccurate information to CRAs.
www.creditrepairman21.com www.handbags4you.com
Monday, March 16, 2015
CREDIT CASH & SEX!
So.....Now do I have your attention?
Here is a quick history lesson sex in advertising or sex
sells, is the use of sex appeal in advertising to
help sell a particular product or service. Sexually appealing
imagery may or may not pertain to the product or service in question. Examples
of sexually appealing imagery include nudity, pin-up
girls, and muscular men.
The use of sex in advertising can be highly overt or
extremely subtle. It ranges from relatively explicit displays of sexual acts,
to the use of basic cosmetics to enhance attractive features.
Sex has been utilized in advertising since its beginning.
The earliest forms are wood carvings and illustrations of attractive women
(often unclothed from the waist up) adorned posters, signs, and ads for
saloons, tonics, and tobacco. In several notable cases, sex in advertising has
been claimed as the reason for increased consumer interest and sales. The
earliest known use of sex in advertising is by the Pearl Tobacco brand in 1871,
which featured a naked maiden on the package cover. In 1885, W. Duke & Sons
inserted trading cards into cigarette packs that featured sexually provocative
starlets. Duke grew to become the leading cigarette brand by 1890 (Porter,
1971). (From Wikipedia, the free encyclopedia)
So are you still confused about this topic and why I'm writing
about it? You shouldn’t be actually you should be a little upset right now.
Your cash is being pulled away because of some half naked woman or man saying
you need that product. Guess what you don't, if you're reading this today or
have read in the past see ASSUME
RESPONSIBILITY OF YOUR FINANCES 2015 which I go over making a financial list.
You want to keep
your cash and even more your credit in good standing, don't fall for all the hype
and sex in advertising. You spending outside your financial list on impulse
buys will not give you six pack abs, no wrinkles, drop weight or whatever you
think it will do for you. Impulse spending is dangerous for your financial and credit future. I promise you it may make you feel good now but when the credit
card bill arrives not so much.
Bottom line is making
your financial list and STICKING with it, you want a new outfit, tie, or car. That’s
awesome get it, but only when you have accounted for it in your list. I’m
giving you a little tough love but you’re taking steps to learn how to correct,
repair, or maintain current credit status. One last thing from this point
forward when you see these sexy advertisements
LOL because you know your cash and credit cards are staying in your
wallet.
www.creditrepairman21.com
www.handbags4you.com
Sunday, March 15, 2015
Credit Cash and Sex!
Visit http://www.creditrepairman21.com
for you very own “DIY” Do It Yourself Credit Repair Kit.www.creditrepairman21.com www.handbags4you.com
Thursday, March 12, 2015
ASSUME RESPONSIBILITY
OF YOUR
FINANCES 2015
TIPS ON BUDGETING:
With costs of products expanding everyday it is important to make your own financial arrangement on boosting your money related assets and verifying that each penny earned is well spent.
Arranging your accounts and list of expenditures that may impacted the way you utilize your income/assets to not only strengthen but stabilize your economic future.
Your income, way of life, ways of managing money, present place of employment and house location, typical cost for basic items, payables and loans decides your level of planning needs. Beginning to assume responsibility of your financial status is one certain method for becoming effective in personal fulfillment and achievement.
The accompanying tips and suggestions will give you points of interest on how you can help yourself deal with your income/assets and see another viewpoint assuming responsibility for your finances.
Regard Math As Your Lifetime Partner – Do some basic math in your purchasing needs. Attempt to analyze costs over your current area for the cost of basic needs for you and your family. Is it better to purchase some things in bulk once a month (toilet paper, paper towels, ect,) versus weekly in small amounts.
Try and save as much as you can (use coupons, in store rebates, buy one get one free) when making purchases. The wealthiest around the world got this way by exercise successful purchasing strategies. They save as much as they can and typically buy in mass to expand their income revenue on the thing they anticipate offering to us (does the name Sam Walton ring a bell).
Betting – Gambling tops the list of making bad financial choices for your life and financial statization. Betting strips you of your assets and causes undo worry and stress, not to mention in some cases your future and current financial.
Know Your Wants VS. Needs – Limit your spending on your needs like housing, food, clothes, transportation (no need trying to keep up with the jones) remember you want a long and successful financial future that is stable . As indicated by several studies, extravagant unneeded purchases are second to betting as far as the level of cash/asset stripping ability.
"Spending More Than you Earn" – Rags-To-Riches more like Riches-To- Rags thats exactly where your finances will be in a very short period of time. It doesnt matter if you make $10,000 a year $250,000 a year, spending more than you make means you will never I mean NEVER be financially stable.
Keeping A Financial List – Take the time to sit down and make a budget ( if you're not sure where to begin let me know I'll point you in the right direction) it is essential to your prosperity. A savvy purchaser needs to consider the cost not only now but in the future and how a certain item will affect his financial future.
A very wealthy buyer would not think about what is being acquired the as long as he or she has cash to purchase them. Unless you are somebody who has a lot of wealth and assets, you should not be careless, put the charge card down! If its not in your budget you DON'T need it so don't charge it.
Visit http://www.creditrepairman21.com
for you very own “DIY” Do It Yourself Credit Repair Kit.
www.creditrepairman21.com
www.handbags4you.com
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