List/Grid Tag Archives: debt validation

Should You Dispute Bad Credit?

As young adults, we are taught many things. But one lesson most of us are not taught is something that will ultimately affect our entire lives. Unless we learn the importance of earning and maintaining a good credit score, life can end up really hard. Not all bad credit marks are necessarily your fault though. There can often be errors in reporting leaving bad marks against your credit. It is essential to know what your credit report looks like before you apply for a credit card or any loans. If there is an error, you can dispute bad credit marks ...
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Fighting The Debt Collectors

If debt collectors are harassing you, you need to realize that there are laws to protect you from unscrupulous practices. The Fair Debt Collection Practices Act prohibits many of the most egregious infractions. Right now there are more and more people taking advantage of this law and actually suing and winning over debt collectors, especially the third-party collectors. Most of the time, a creditor will try to collect a debt for a while, but most often they will actually write off the debt and sell it to a third-party collector who then tries to ...
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Improve And Repair Bad Credit

For most people in life the major financial purchases like buying a house or a car require credit. Of course, in order to be approved for credit you must have a good credit score. Life and finances both tend to be less expensive and much easier when you have a good credit score. But what can you do if your credit score is already shot? There are some steps that you can take to improve and repair your credit. The first thing that you need to do is to get your free credit report from all of the big three credit bureaus, which are TransUnion, Equifax ...
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Credit Repair Programs For Impaired Credit

If you are interested in improving or rebuilding your financial reputation with creditors you may want to look into a credit repair program. These programs help debtors repair their credit and also teach them how to change bad spending or payment habits in order to prevent future difficulties. There are credit repair programs that allow the debtor to work out a solution with their creditors by making arrangements to pay off their existing debt by lowering the balance due, lowering the interest rate or even eliminating interest payments. An ...
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Make The Collection Company Validate The Debt

A collection agency is a second party (rather than the original creditor) who has been authorized by the original creditor to try to collect the debt. There are various ways a collection agency may get the debt, however that goes off on a different tangent and should be in a different post. But think about this…… If you owed Sam money and someone named George tried to collect the money, would you just automatically give George the money or would you make sure that he was authorized by Sam to collect? Would you make sure that you actually ...
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Questionable Debts And Debt Validation Letters

If a debt collector is hounding you about a questionable debt, under the Fair Debt Collection Practices Act, you can request the debt collector to send proof of the debt. This process is referred to as debt validation. See the sample debt validation letter at 724credit.
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Inaccuracies On Credit Reports

It is estimated that as high as 75% of all credit reports contain errors, mistakes and inaccuracies.  The FCRA is the Fair Credit Reporting Act and it was enacted back in 1979 to allow consumers the opportunity to dispute problems on their credit report and to promote the fairness, accuracy and privacy of personal information on credit reports.  With so many potential errors on credit reports it is likely that at some point you may need to consider credit repair as an option to eliminate the inaccurate listings on your report. The FCRA gave ...
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Three Crucial Laws To Be Aware Of When Doing Credit Repair

The basis of most credit repair is the Fair Credit Reporting Act or the FCRA.  This law was enacted back in 1970 to protect consumers from inaccuracies and inconsistencies on credit reports.  This law enables consumers to dispute untruthful or inaccurate listings on their credit report.  It also permits a consumer to receive one free credit report each year from each of the three main credit bureaus. Most people who know about credit and credit practices and repair are familiar with this law.  However, there are two additional laws that affect ...
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