How I got a huge pile of old student loans off my Experian Report

Credit Repair
Copyright (c) 2018 by David L Nelson, All Rights Reserved. Has Your Institution of Higher Learning let You Down?

Want to repair your credit but keep hitting a brick wall?

Did you know that according to the Federal Fair Credit Reporting Act or FCRA,  15 U.S.C. § 1681, when you dispute something on your credit reports such as Experian, Equifax and Transunion, the Credit Reporting Agency you’ve written to must investigate your dispute. That makes sense and is perfectly easy to understand. No problem so far.

However, the code section actually requires that the credit reporting agency, (usually Experian, Equifax and Trans Union) “shall, free of charge, conduct a reasonable reinvestigation” which of course means that you’re in luck, which means that there is even less than no problem so far.

So what if you dispute something and the credit reporting agency investigates the information, and the party who furnished the information to Experian, Equifax or Trans Union reports back to the credit reporting agency that the information is correct? If you believe that it is not correct, then you may send in another dispute of the same information outlining why you believe it is incorrect, and the credit reporting agency must “reinvestigate.”

So, I was trying to buy a house, ages ago, but I had loads of student loans on my credit files listed, in some cases, as many months late because it was shortly after graduating and passing the bar and for a long time I didn’t yet have a job or career to speak of, and so I got into some financial trouble. We did eventually flip a couple of houses and pay off all of my student loans, so I wasn’t a complete loser, but my credit was still shot from it all. And this last house, I didn’t want to flip, I just wanted a good interest rate and couldn’t get it. In retrospect I should have taken the bad interest rate, closed quickly and flipped it anyway.

So, I checked my credit reports and realized that almost all of my old student loans had been listed inaccurately. They were listed as most of them over 120 days late. Hahaha! But I knew better, most of them were over 180 days late. So I sent in a dispute. And month after month, Sallie Mae kept reporting that they were right and I was wrong.

However, at long last, after about six (6) disputes and ten (10) months later, suddenly all of them disappeared all at once from my Experian credit file. I can only guess what happened, either they finally agreed with me, or maybe the person who worked for Sallie Mae verifying information for credit reporting agencies must have been on vacation or maternity leave or died or something.

Credit Repair works, and you don’t have to be an attorney nor hire one in order to get fantastic results! For the proper form of such dispute letters and so so much more, go to the Attorney’s Guide to Credit Repair for fast easy guaranteed results.

Want to Buy a House, But Ran Into A Wall

You Shall Not PassIs this the door to your mortgage broker’s office? Or does it feel like it is?

It looks like what a Hufflepuff might expect when trying to sneak into the Gryffindor wing of Hogwarts.

Obtaining a mortgage loan is a tough business, but so worth it, in most cases. When you own your home, yes, it is true that you have to fix the toilets, pay for new screens and fix the cabinet doors when your children use them to swing on. But you also cannot be evicted by a landlord who has decided to sell the property because he’s getting divorced or because his mother died and you’re really her tenant and he was just the property manager.

Of course you have to pay the mortgage or the bank will eventually ask you to leave, but how do you make sure that you have an affordable mortgage payment? One of the easiest things you can do, is to make sure that you have good credit.  Good credit, means low interest rates. Low interest rates mean low monthly mortgage payments. That low monthly house payment is what makes keeping your home possible. You don’t want to be house poor, which means you have a house payment so high that you cannot afford new clothes or car repairs.

Times have been tough, your income is finally what it must be to buy the home that you’ve promised yourself and your family. But times were tough and many of your debts went unpaid when you were out of work, or work was slow, or during the divorce or after the car accident. Whatever it was, while we all understand that times were tough, banks don’t. They never did. Yes, you want a home loan, but if your credit is bad, they have to charge you a high interest rate. The idea is to get their money out of you as fast as they can before you eventually default again.

Maybe it won’t happen, but if your credit score says you’re basically a viking and the raiding parties have been slow lately, then they have to base their interest rates on something. They can’t take your word for it, nor mine. The only objective method is to look at what all of your creditors have been saying about you. Sometimes creditors get the information wrong, sometimes it’s negligence, sometimes a sin of omission, sometimes they just don’t care and you’ve been slandered and libeled and your mortgage broker can’t do anything about it. What then?

Good credit isn’t magic, Harry Potter is going to wave his wand and yell, “Experian Patronis!” at your mortgage broker. You have to do something. You could spend a lot of money and hand it off to an attorney and hope that the wheels of justice grind faster for this attorney than they do for every other attorney in existence. Fat chance. And yes, that’s expensive. Or you can take the matter into your own capable hands and get started now.

If possible, rather than working on cleaning up your credit when you start looking for house, start right now. If you’ve already started looking for a house, just get started right now anyway. It just takes some effort on your part. But the effort is easy enough, affordable and best of all, guaranteed.

The Attorney’s Guide to Credit Repair is your guidebook, your road map and the leader in credit repair. The attorney who created it, Robert Shapiro, has been an absolute leader in credit repair law and practice for years. He has boiled his experience and know-how into this convenient guide. Do it now.

I Refuse To Pay And You Can’t Make Me

Credit Repair
Has the Gremlin in the Sky got you down?

Is your financial situation murky and cloudy?

You’re not entirely remedy-less. Under the Fair Debt Collections Practices Act or FDCPA, did you know that a refusal to pay carries the implicit instruction to consumer collection agents to cease and desist all contact with you by telephone? It does. It works the same as the cease and desist notice which is also part of that code.

But many creditors don’t realize that this is so. Rather than sending a cease and desist notice, why not send a refusal to pay? And if you send “I refuse to pay and you can’t make me,” as your refusal, the collectors will probably violate the cease and desist portion of that refusal to pay within only hours or days of receiving the refusal to pay and perhaps do it a couple or even several times.

Under the FDCPA if a creditor violates the cease and desist notice, they can be subject to owing to you, $1000 per violation. In a short time, they might owe you more than you owe them.

According to the code you do have to sue them to get them to pay you, but the least you have is leverage. The fact that they have violated the law can be used to settle out of court. Let’s call it even, more or less. Under the FDCPA you also have an attorney’s fees clause in the code, so that if your collectors won’t settle and you have to sue, then they have to pay your attorney to sue them. This is of course my favorite part of the code.

While you’re doing this, you should also be paying attention to your credit rating. Credit repair isn’t as complicated as many might say. It does take some effort on your part, but you can do it yourself, affordably and quickly. As you repair your credit, you will need a road map, or a guide. Doing it yourself is tricky if you truly try to do it with no help at all. I’ve read the code sections in the Fair Credit Reporting Act and they are on your side. They provide the framework for your successful repair of your credit. However, they don’t tell you how to write the letters or truly explain the content required to be successful.

I wish I could say that I had written the guide you need to use to repair your credit, but at least I can refer you right to it. The Attorney’s Guide to Credit Repair is exactly what you need to effectuate your credit repair. It’s easy, fast, affordable and it works, provided that you do the work.

I used to charge lots of good money for this kind of work before my bankruptcy practice got too busy. They are practically giving this information away.  And, the Attorney’s Guide to Credit Repair guarantees your fast, effective, credit repair success.

Most Debt Statutes of Limitations Are Four Years in California

Credit Repair is the Answer
Your Credit is About to Take Flight

Your good credit is about to take flight, and you don’t even know it yet. If some of your debts are particularly old, you’re in luck.

In California and in many states, (you can look them up) the statutes of limitation, or the amount of time allowed for another party to sue you, are sometimes shorter than you think.

For most debts in California, the statutes of limitation are only four (4) years from the breach of contract. You are in breach of contract from the first month you stop paying. Now, this is not exactly a great strategy for getting out of debt. If you’re planning to use this as a strategy to get out of debt then you’re probably in for a disappointment. A bankruptcy is a better choice if you have a significant amount of debt and if the debt is not very old yet.

Usually one or a couple of creditors will sue you and obtain a money judgment against you and once that happens, the creditors with judgments have now extended their statutes of limitations to up to twenty (20) years in California.

However, for those that didn’t sue you, or in rare cases, where no one has sued you, then you’re in luck. But as I said, it’s relatively rare that no one sues you at all, if you have had a significant number of credit cards and/or medical bills in the past.

It’s also tough to gauge if you haven’t been sued because you might think, well I’ve never received a summons and complaint before, also known as service of process, so, therefore, you think no one has sued you. Think again. Many times people have been sued and they didn’t even know it. If you were divorced and had to move, if you lost your job and couldn’t afford the mortgage or rent where you were living, if the job you found was required you to move to a different state, if you maybe had that happen more than once or twice, then the creditor didn’t know where to deliver the summons and complaint and probably served the new tenant at your old apartment or served the new owner at your former home. Sometimes even if you tell a creditor your new address, when they send it to their own attorneys, they somehow conveniently forget to tell their attorneys that you told the creditor your new address. At least, that’s what the attorneys will say and it’s probably true.

So you must do a check of the courts where you were used to live to make sure that you haven’t been sued. Most of the courts can be accessed online. Riverside, San Diego, Orange, LA and San Bernardino County courts are available online although some charge fees for name searches but usually it’s a small fee.

Just because a creditor hasn’t sued you and the statute of limitations has passed, does not mean that collection agencies will not blow up your phone and harass you all day begging or threatening you to pay the debts. However, if they have truly missed the statute of limitations, you can send them an appropriate letter and the matter is done.

You do have to be certain of when you quit paying though. If you’re wrong and they still have time left, they may at that point file the lawsuit. I remember one client who had a joint account with his wife, but they divorced, however, she kept paying the account for another six (6) before she quit, so the client had the date wrong by six (6) months. Also, and this is indeed rare, a creditor or collection agent might falsify records to show additional payments later in order to extend the statute of limitations. If you’ve moved a couple times then you might not be able to prove them wrong if you cannot locate your records. At that point a bankruptcy might be the best solution, call me if you need one, Call 951-200-3613 for a free bankruptcy consultation.

But if your creditors and collections truly missed the statutes of limitation then by writing to them and saying: “Hey, you missed the statute of limitations, and stop calling me.” Then they have to stop calling. And if you’re right about the correct amount of time having passed since you last made a payment, then they can’t sue you either.

But sometimes what they’ll do is to sell the account to a different collection agency and you will hear from them in a month or two later instead. Send them the same kind of letter.

For more information I would like to refer you to the best guide on how to write letters like this and no doubt you’ll probably need other letters that you can write and this guide tells you exactly how. I wish I could say that I wrote it, but the information is fantastic, clear, easy to use and affordable. For the Attorney’s Guide to Credit Repair, Click Here.

Credit Repair Takes Effort

Credit Repair

No one is going to fix or repair your credit for you, not without some significant money exchanging hands first. But you can fix your own credit. You can repair your credit with the appropriate guidance from someone who knows what they’re doing.

Unfortunately with my busy law practice I don’t have that kind of time to help you with you efforts to rehabilitate your credit. I can steer your in the right direction though. With the Attorney’s Guide to Credit Repair, you will know the next step to take.

It’s fast, affordable, and real. Credit Repair you can afford because you are making the effort yourself. The step by step guide will bring you confidence in the market place and can give you the credit scores you need to buy a home, a car with a low interest rate, or perhaps open a business loan, provided however only if you make the efforts.

Credit repair to most people is a mystery. Why is the sky blue? I don’t know, because it is. Why is my credit score below 600? Usually you have some ideas if that’s the case. However, when you ask but how do I bring it up to 700 or more? Lots of people will tell you that they’ll do it for you for only, a lot more money than you have in the bank. Many will tell you that you just have to write the appropriate letters to get credit reporting agencies such as Experian, Trans Union and Equifax to correct the information in your credit files. But how do you do that?

I’ve reviewed the Fair Credit Reporting Act’s code sections and the laws regarding Fair Credit Reporting are on your side. In my bankruptcy law practice I would charge quite a lot of money just for a consultation on the subject, but when I found the Attorney’s Guide to Credit Repair, I was floored. They’re practically giving you all of our secrets for pennies on the dollar.

At that point, I couldn’t see why I wouldn’t just refer you to Click Here!

You’ve Gone Through Bankruptcy

What Now?

First, take a breath, for a little while, have a cup of cocoa and relax.

Credit Repair
Relax, Have a Cocoa

Afterwards, there’s plenty to do.

Bankruptcy is to credit repair as spiders are to a good nights’ sleep. Bankruptcy is the Credit Reaper. Nevertheless, sometimes bankruptcy is all you can do. You have to be able to pay for rent or mortgage, feed the family put tires on the car and gas in the tank. How can you do that if your wages are being garnished or you find your bank account empty one Saturday morning when you know your check was deposited yesterday?

If you need a bankruptcy, call I can help. Call 9512003613.

On the other hand, two of the easiest things to do to repair your credit or rehabilitate your credit, is to open a secured credit card and/or buy a car.

Don’t buy the car unless you absolutely must and there is no reasonable alternative. If you have to buy a car, the interest rate will be ridiculous. So, if you have the ability to borrow from a relative, or if you have been able to save  since your bankruptcy, or if you can take a small 401k loan to buy a reasonable car, go ahead. Make it reasonable, you don’t need a lot of options, so skip the bells and whistles. Get an AM/FM radio and air conditioning that both work. Stop there because the lower your car payment, the better your credit will be. If you want to buy a house down the road, avoid buying the car on credit if you can.

The next thing that is easy to do, in general, is to get a secured credit card. You go to your bank or a bank and bring in say $500 cash and ask for one. Usually if you’re paying the amount of the credit line you want down, they’ll do a credit-check light, or in other words they might not even do one. At my bank, because I was already banking there, they only checked their own records. I gave them $1000 in cash, and they gave me a card with a $1000 credit line with very few questions. The interest rate will be horrible but keep reading and you’ll see that it doesn’t much matter if you do as outlined below.

So do you buy something and pay it off? No. You can of course and that will help, but is actually not the best strategy when trying to improve your overall credit health. So you now have a credit card with a $500 credit line, what do you do? Save up another $500 first. Then find something you need to buy for $500, such as a new computer or a TV or something. Then don’t pay it all off at once. You’ve got the money saved, so you pay it off 1/3rd at a time.

By doing it 1/3rd at a time, the credit card company will like you. You’ve paid it off quickly so you’re a good risk. But you also had to pay some interest, and that makes you a great risk. Pay it off too fast, means no profit for the credit card company. Pay it off too slow and that means high profits for the credit card company but also high risk and that is not so good for them. They want want profit and high performing contracts in their portfolio because that has a positive impact on the stock price.

In a year, not only will you get your deposit back but they’ll double your credit line or more. And that increase in credit-line is the most important thing that happens to your credit rating. It can’t happen unless your payments are in good standing, so yes those are important too. But you need both to have good credit, exceptional credit means you have good standing in your payment histories, but also high credit lines and low balances.

Note that I said histories. So you want more than one account open and in good standing for at least twelve (12) months after your bankruptcy is over, or in a chapter 13, twelve months after your confirmation of your chapter 13 payment plan. After the Great Recession, many couples each got a secured card and then put each other on each other’s cards. Then each had two (2) cards.