Credit Bureau Fails Again

5591072554_9d07a196c5Credit reporting agency sued by State

Mississippi has sued credit reporting giant Experian, alleging sweeping errors in the company’s data and routine violations of consumer protection laws. Mississippi’s action — and a previously unreported multi-state investigation of credit bureaus led by Ohio — represent a significant new legal challenge to the industry.

The lawsuit accuses Experian of knowingly including error-riddled data in the credit files of millions of Americans, jeopardizing their ability to obtain loans, employment-related background checks and sensitive government security clearances. Experian has even wrongly reported that consumers are on a federal terrorism watch list, the lawsuit said. [Read the full article]


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Experian wouldn’t fix bad credit, and loses huge!

Not fixing a bad credit report pays $18.6 million dollar jury award.

fix bad credit, ExperianThis is the recent case of Julie Miller whose credit file was merged and mixed with someone else with the same name.  After numerous attempts and lots of documentation provided showing Experians errors, they simply refused to correct the information causing her to be denied credit. Read about the full case

There have been recent law changes which further require credit bureaus to be damn careful and accurate about what they report.  This is one of the biggest reasons consumers sue the credit bureaus and it happens consistently.

If you have read this blog, you will see I am not a fan of the credit bureaus.  They have this “pompous, I don’t give a shit attitude” and are more then willing to throw millions into fighting lawsuits over their terrible mistakes which greatly impact consumers.  My warning: if you are disputing with credit bureaus and creditors, make sure you can fully document the errors and can prove damages.  You may have a fighting chance and sometimes, apparently, it’s worth it.

Mark Serebrin
Safe Haven Credit

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Top Credit Cards for People with Bad Credit (November 2014)

Top Credit Card Choices for Bad Credit 2014

top credit cards for bad credit

LINK: Top Credit Cards for Bad Credit. Here is the most recent search for the best credit cards if you have poor credit.

The credit card scene changes almost weekly, each competitor trying to outdo the other.  But for those with poor credit, the choices have to be different.  Most banks and credit unions will not give out credit cards to those with bad credit and often don’t even offer secured credit cards.  There is no profit in it.  However, it is crucial that those with bad credit go out and get a new credit card and use it every month!

And there is a whole industry of merchants and specialty banks that do offer credit cards to help consumers rebuild credit.


If you are looking to rebuild your credit quickly, a new credit card will go a long way.  But there are important issues to be aware of.  Credit cards designed for bad credit usually will not have any of the perks, like cash back.  They will also have lower limits, sometimes less than $500.  The interest rates will definitely be higher and they are likely to have a higher annual fee.  Not always, so do your homework.  And remember, your goal is to rebuild your credit and credit score.


Getting and using your new credit card can account for 50% of your credit score, which covers, getting new credit, paying your bill on time and adding new positive credit history each month. The key is that these banks report your history to the credit bureaus each month. And that is the reason to apply for one of these.


If you pay the balance off each month then the interest rate won’t matter, so look for cards with the lowest rate (combined with the lowest annual fee).  On the other hand, if you carry a balance, a lower interest rate is your top priority.

Always remember to keep your balance less than 33% of your available credit limit (this will give you the highest possible score) and to make your payments on time.


Here is a link to sites offering the top credit cards for bad credit.

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3 Things Not to do In Credit Repair

credit repair, fix bad credit, repair creditRepairing your credit works if you avoid these 3 things.

1. Time Warp – you can’t hurry Mother Nature and you won’t hurry the credit bureaus! The credit repair industry has done so much damage to itself by trying to out do the competitor, promising things that truly are just to good to be true.  “We can remove XYZ in 20 days!”  That kind of crap.  The Fair Credit Reporting Act is specific, a credit bureau has 30 to 45 days to investigate a dispute and they rarely if ever complete an investigation sooner.  So if you really want to squander your money that badly, I suggest you go to a casino, at least you will enjoy it for a few moments before it is gone.  Don’t get impatient!  The credit repair process takes time as set up under the law.  Unless you can change the law, credit repair happens in 30 to 45 day increments.

2. Don’t Dispute Online-  As explained by a consumer attorney, the credit bureaus very much want you to dispute online as this saves them money.  Who cares?  We are talking about your credit.  The online dispute process is very limited on your side, allowing for only a very small explanation and sometimes no backup documentation.  It was purposely designed that way.  It also leaves you no room for written proof that you took action, copies of letters, certified receipts, that kind of thing.  Also, when you receive notification of results (the bureaus never actually send you the results because that would leave a paper trail) you have to go online and login to your account to view the results.  If you miss this notification or do not save it, it will soon be deleted by the credit bureau, erasing all record of your actions.

An example of where this goes wrong for the consumer is when an item is actually corrected or deleted thru this process.  But then 30 days later it is re-inserted into your credit report and you have received no notification that this was done.  This is the number one reason to sue the credit bureaus and win every time!  By law you must be notified if an item is to be re-inserted within 3 days of the occurrence AND the original creditor must provide the credit bureau with certification that the reporting as accurate, in this case proof.  According to our attorney, it never happens.  So be sure that your disputes are in written letter form and keep good records.

3. Don’t Believe That Just Because It’s True, It Can’t Be Removed From A Credit Report-  It has always fascinated me that the Government allows the credit bureaus to report ANYTHING about a consumer without ever validating its accuracy. That’s right, everything on your credit report is collected and gathered information that is NEVER CHECKED until your request an investigation.  What this means to you, is that when you dispute an item with the credit bureaus the first time, that item is actually unverified with the original creditor.  And, as so often happens, the original creditor no longer reports that information to the credit bureau because they no longer have records.  BINGO!  Off drops that reporting.  Even if the information was accurate, it can no longer be proven!  You have the right to challenge EVERYTHING on your credit report as provided by law, whether it is accurate or not.  Do it!

This does not mean that just because you challenge it, that it will be removed.  If the original creditor does validate the information, it is going to stay on your credit report, PERIOD! It’s just part of the process.  Section 611 of the FCRA is the basis for repairing bad credit.  Start here and study hard.

Mark Serebrin

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How To Beat Credit Card Debt Collectors

You can beat credit card debt collectors if you know the rules

There are so many cases in point of debt collection company’s inability to prove that you owe them the debt. These alleged debts were sold to these companies who then pursue them as though they actually owned the debt. They don’t…at least not until you make a fatal mistake and give them the right. You see, when you signed the original agreement with your credit card company, you signed a contract with your original credit card company. This is where winning your battle begins. Yes, you signed an agreement with your credit card company, but you did not sign one with the companies that bought your debt from the credit card company. If they don’t have a right to your debt, then why are they coming after you? Because you don’t know your rights, they know this, and they collect billions of dollars every year at massive profits.

The profit in debt collectiohow to stop debt collectorsn is astronomical, which is why it is one of the most under handed, sleazy businesses in America.  And if I told you that these debt collection companies have no right to that debt, would that surprise you? They are trying to follow legal procedures to trap you into a debt you no longer owe! They do not have any right to that debt…that is, they have no right to that debt until you give them that right. And, yes, millions of Americans make serious mistakes every year and end up owing a debt all over again, a debt that was written off long ago.

The basis of nearly all court cases won against junk debt dealers is the lack of proof of ownership of the debt. Why do they own it? Did you sign an agreement with them? Are they a credit card company? The answer is, no. They are required, by law, to show why you owe them.

But don’t make the fatal mistake of making any arrangement to pay them. Crucial Point: do not make payments, or agreements to make payments, to any company that is calling about a debt that you owed someone else. Doing so creates a contract that may be binding.

As in most credit card cases (depending on your state), when a claim is “based upon a written agreement, the pleading shall state specifically if the agreement is oral or written.” If the credit card claim is based upon a writing, then the debt collection company must “attach a copy of the writing.” This means that, once again, the law requires that the plaintiff produce the original contract with the credit card company bearing your original signature. The original, and only the original, will do.

Also, in most states, if the lawyer filing the claim for the collection company knowingly files a suit without having that original contract in hand, he is in violation of the law. He has to either have that contract, or he has to have someone with him coming to court who has personal knowledge of that signed contract, and he has neither. When he signed the suit papers, he stated that he had these proofs by his signature. A lawyer filing such a claim should be prosecuted, he deserves to be sued, and you can do so if you have a lawyer representing you.


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Suing The Credit Bureaus? Have A Purpose

Be wise about suing the credit bureaus

Sue The Credit BureausI’ve had a second email this month about “suing the credit bureaus” because they don’t have proof of the negative credit that they are reporting. Now hold on before you get all worked up!

In the guts of the Fair Credit Reporting Act, there is absolutely no requirement that the credit bureaus have any proof of what they report about you. I find that fascinating. They are supposed to at least have quality control to assure the public they are reporting accurate information. Of course there are numerous studies showing that the majority of consumers have errors on their credit reports. Touché!

The second part about suing anyone (and I am not a lawyer so this is strictly my opinion from what I have studied) is that you have to be able to prove that you have been, in this case, monetarily damaged by the actions or inaction’s of the other party. Can you show this?

In most of the cases that I have worked with doing credit restoration, the information reported was for the most part accurate, a late payment, a charged off account, that type of thing. The failure by the credit bureaus is that they never investigate the accuracy of what they are reporting until the consumer requests this under the FCRA. When this happens, the credit bureaus are required by law to request validation from the credit furnisher. What happens next is why accurate, legitimate credit can fall off of your credit report.

Why Accurate Information Can Fall Off of Your Credit Report

If the credit furnisher is unable or unwilling to respond within the 30 day time period allotted by the FCRA, then the credit bureau is obligated to remove that item from the credit report, whether it is accurate or not. This can occur if the original creditor no longer has records about the account or they just do not respond in time.

On the other hand, if the credit furnisher validates the information as accurate, the credit bureau will respond to the consumer that the disputed information will remain unchanged and note on your report that you disagree with the information. This would be the proper procedure. The information has now been verified with the original creditor so what would you sue the credit bureaus for.

In trying to restore a consumers credit this is one of the tactics credit repair companies will deploy. It is worth the effort and often works. If it doesn’t work, it is not the end of the world because there are other options to restoring and rebuilding your credit.

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3 Powerful Tips To Remove Bad Credit

Removing Bad Credit Can Drastically Improve Your Credit Scores

Removing unverified bad credit from your credit report is relatively easy.  Along with correcting inaccurate or out-dated information.  Part of the process requires you to dispute or challenge the negative credit that is being reported about you.  Don’t worry if you know the information is actually accurate. The law gives you the right to investigate what is on your report to be sure that both the credit bureaus and the creditor are reporting properly within the law.

You may find that by challenging that bad credit, that the creditor is no longer reporting this information to the bureaus, or that they no longer have any information to validate it or that they simply don’t respond to the investigation.  This means that your bad credit falls off of your report.  It’s little things like this that can drastically and quickly increase your credit scores.

To get the Step by Step Guide on how to remove bad credit just click this link: FREE GUIDE

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