In today’s article we are going to show you how you can get paid for credit reporting errors. If you are looking for credit repair, or to fix errors on your credit report. In our experience, an accurate credit report does not exist. Allow us to show you how we can repair your credit, and potentially get you compensation for their errors and lack of properly investigating disputes.
How We Get Leverage By Finding & Disputing Credit Reporting Errors
If you have charge-offs reporting on your credit report, we can dispute and challenge those items with the big 3 credit bureaus. We audit each item carefully and identify every error, omission, and inconsistency between the bureaus. The Fair Credit Reporting Act (FCRA) requires the big 3 credit bureaus and those reporting to the credit bureaus to report all information with “maximum
possible accuracy”. Metro2 is the system designed by the credit reporting industry (CDIA) to meet or even exceed the FCRA’s requirement of “maximum possible accuracy”. We use Metro2 in our dispute process. By identifying and disputing those credit reporting errors we can show an item is not being reported to “maximum possible accuracy”. Additionally, the FCRA mandates the credit bureaus and data furnishers to have “reasonable procedures” to conduct a “reasonable reinvestigation” of the items in dispute. So if those credit reporting errors remain after disputing, we can show that “reasonable procedures” were not followed, or no “reasonable reinvestigation” was done.
How We Can Turn Credit Reporting Errors Into $$$ For You
According to the FCRA, information on a credit report also has to be “Accurate” and “Verifiable” or be removed. By factually disputing legitimate credit reporting errors, you are like a teacher giving the student all the answers to the test. If the account was not corrected to “maximum possible accuracy” or deleted from your credit report, we give them 1 more opportunity by disputing the remaining errors. Disputing a second time builds your case to show you gave the credit bureaus and data furnishers multiple opportunities to correct or delete the account. If then the account is still error laden or not deleted, we can then file for arbitration. In cases where major damages were incurred, such as denial for a mortgage, we can send you to our network of consumer attorneys to sue the credit bureaus and data furnishers. Arbitration or suing can lead to some pretty nice settlement offers outside of arbitration or court, or you could be awarded damages by the arbiter and judge and get those negative items removed from your credit report.
Why Your Case Would Be Strong
- You will show the arbiter or judge that you disputed factual credit reporting errors, and give them multiple opportunities to make it right.
- You will show the arbiter or judge that the account is in violation of the FCRA by not being reported to “maximum possible accuracy”.
- You will show the arbiter or judge that “reasonable procedures” were not followed or failed when investigating your dispute.
- You will show the arbiter or judge that a “reasonable reinvestigation” was not conducted, or at the very least botched.
- You will show the arbiter or judge that this process cost you a lot of emotional distress and fees to hire professional help.
How Much Are Credit Reporting Errors Worth?
According to the FCRA, each violation is worth $100-$1,000 each. Plus the defendants are responsible for emotional distress, and attorney fees. In large cases where there are big damages, they are also liable for what their mistakes cost you, such as mortgage denial or paying higher interest rates.
What About Debt Collectors And Debt Buyers?
Debt Collectors and Debt Buyers are also liable for reporting accurate and verifiable information and all of the above applies to them. In addition, they are also bound by the Fair Debt Collection Practices Act (FDCPA) where you can be awarded up to $1,000 per violation. They also have many other areas of
compliance that if violated, will net you up to $1,000 per violation. At Credit Wellness Solutions, we offer a Debt Collection Audit Service where we audit debt collectors and debt buyers for violations of the FDCPA. If we find violations we forward you case to an experienced consumer attorney from our vast network where they will sue the debt collector. Debt collectors and debt buyers are also responsible for attorney fees, so you literally do not have to pay the attorney! Our debt collection audit service is included in all of our credit repair plans if elected, or as a stand alone service.
How To Get Started, And Get Paid To Fix Your Credit
- Order Your Credit Reports – These can be ordered for only $1 for a 7-day trial by clicking here.
- Fill Out Our Service Application – This is so we can get a better idea of your situation and your goals. Click here to fill out the application.
- Schedule Your Free Consultation Appointment – Our Consultations are ALWAYS FREE! Even if you decide not to start services, you will leave with pointers to improve your credit. Click here to schedule your appointment.
Disclaimers
- Credit Wellness Solutions are not attorneys, and anything posted is for informational purposes only. If you hire us, any advice is for informational purposes only. You should always consult with your attorney.
- Specific Results are never guaranteed, a lot of this rests upon opinions of the arbiter, judge, or jury.
- Disputing credit reporting errors, or credit repair does not eliminate debt. If you legitimately owe the debt, any settlement or awarded damages could be applied against the debt you owe.
