DON'T BLINDLY ACCEPT A CREDITOR OR COLLECTOR'S CLAIM OF VERIFICATION
Repair Your Bad Credit With Future Fico
by Shannon Lopez
3w ago
 Have you been disputing with your creditors and collection agencies to correct their records and information they furnish to the credit reporting agencies only to receive a response that they have verified their records and the information will remain the same, with the bonus of a dispute comment being added? Did they validate or prove their claim? In order to do that, they need to send the documentation to substantiate the correctness of the information they hold on you. Did they send that? Probably not. The most you usually get will be several months, possibly years of billing statemen ..read more
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How To Know If A Debt Collector Has Sent You Validation
Repair Your Bad Credit With Future Fico
by Shannon Lopez
2y ago
 When a debt collection company sends you a letter telling you that you owe them for some alleged debt or you see a collection account on your credit reports, you should immediately fire off a letter to them exercising your right to dispute their claim and demand validation, What this means is you are telling them that they have to prove you owe them money and until they do, you have no obligation to pay them anything and until they validate (prove their claim), the law requires them to stop all collection activity. Collection activity means phone calls to you or people they may think kno ..read more
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3 Common Errors On Credit Reports That Consumers Often Miss
Repair Your Bad Credit With Future Fico
by Shannon Lopez
2y ago
 Many people attempt to repair their credit by mainly disputing negative information on their credit reports with the credit reporting agencies. I believe everyone that is trying to repair their credit needs to dispute with the credit bureaus/credit reporting agencies (CRA's). I also believe that disputes need to be sent directly to the furnishers of that negative information, that would be the alleged creditors and 3rd party collection agencies.   Now when disputing with the CRA's, I hear and read that a lot of you are disputing "no contract" or something similar to that.  ..read more
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Why Charge Offs Shouldn't Be Paid
Repair Your Bad Credit With Future Fico
by Shannon Lopez
4y ago
Many times when I review clients' credit reports I see paid charge offs.  My stomach gets a sick feeling every time. Paying off a charge off might help the score a bit because it changes the balance to zero, improves the debt ratio, and potential creditors like seeing that the alleged debt was paid, but it's still a derogatory account and will always be a derogatory account. The truth is, that creditor has already been paid for that charge off, even before it was charged off, but they never told you.  These creditors always fail to fully disclose every important aspect of credit accounts. Tha ..read more
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